Financial Aid

Paying for College

Understand your financial aid options, navigate the FAFSA, and find scholarships

Types of Financial Aid

Federal Grants

Free money from the government based on financial need

  • Pell Grant: Up to $7,395/year (2024-25)
  • FSEOG: Up to $4,000/year for exceptional need
  • TEACH Grant: Up to $4,000/year for future teachers
  • Iraq & Afghanistan Service Grant: For eligible dependents
Federal Loans

Borrowed money that must be repaid with interest

  • Direct Subsidized: Need-based, no interest while in school
  • Direct Unsubsidized: Not need-based, interest accrues
  • Parent PLUS: Parents can borrow up to cost of attendance
  • Freshman limit: $5,500/year ($3,500 subsidized max)
Work-Study

Part-time jobs for students with financial need

  • Earn money while gaining work experience
  • Jobs are often on campus and flexible with class schedules
  • Typical earnings: $2,000-$3,000 per year
  • Does not reduce your financial aid eligibility
Scholarships

Free money based on merit, talent, or other criteria

  • Merit-based: Academic achievement, test scores
  • Need-based: Family financial circumstances
  • Athletic: For student athletes (NCAA, NAIA)
  • Specialized: Heritage, field of study, community service

FAFSA Step-by-Step

The Free Application for Federal Student Aid is your gateway to financial aid

1

Create an FSA ID

Both student and one parent need an FSA ID at studentaid.gov. This serves as your electronic signature.

2

Gather Documents

You'll need Social Security numbers, tax returns (or W-2s), bank statements, and investment records.

3

Complete the FAFSA

Opens October 1 each year. Use the IRS Data Retrieval Tool to automatically import tax information.

4

Review Your SAR

The Student Aid Report shows your Expected Family Contribution (EFC). Review it for accuracy.

5

Compare Award Letters

Each school sends a financial aid award letter. Compare the net cost (total cost minus aid) across schools.

6

Accept Your Aid

Accept grants and scholarships first, then work-study, then subsidized loans. Borrow only what you need.

Important Deadlines

October 1FAFSA opens for the following academic year
November 1-15Early Decision/Early Action financial aid deadlines
February 1CSS Profile deadline for many private universities
March 1Many state financial aid deadlines
April 1Financial aid award letters arrive from most schools
May 1National Decision Day — commit to a school and accept aid
June 30Final FAFSA deadline for the current academic year
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