Financial Aid 101: How do I apply?
Federal and State Financial Aid
ICW Scholarships
Average Financial Aid Package
Useful Links

Types of Aid Available:

Scholarships and Grants consist of institutional, state, federal or outside sources of funding that do not need to be repaid.

Work Study programs let you earn money and gain work experience while you are in college. These are generally for part-time employment, allowing time to attend classes and to study. Some programs offer the added advantage of employment related to your field of study or career interests.

Loans must be paid back in full, with interest. The terms of repayment vary. Generally, repayment does not begin until after you leave school. Some loan programs do not require that you have financial need in order to qualify. Student loans based on financial need carry interest rates that are lower than most other kinds of loans, because the government helps pay the interest.

Applying for Financial Aid:

You need to submit the FAFSA (Free Application for Federal Student Aid) to the federal student aid programs processor. The FAFSA, available on-line in December, is the national standardized form used by colleges and universities across the country to award aid. You should submit your application regardless of whether you think you will qualify for any federal financial aid, since most colleges and universities require the FAFSA to determine what else you might qualify for in terms of institutional and/or state assistance. The FAFSA is available at high schools, community colleges and on the web (www.fafsa.ed.gov).

An analysis of your FAFSA determines how much you and your family can afford to contribute to your education. A variety of factors are taken into account: family income, total savings, family size, parents' ages (and their need to save for retirement) and the number of family members in college at the same time.

There is no simple formula to determine if you will be eligible for financial aid. If you have concerns about college costs, and you are a United States citizen or permanent resident, you should apply.

The federal student aid programs processor will review your FAFSA and determine how much money you and your family can reasonably contribute toward your college education. If the amount you can pay falls short of the cost of attending the institution of your choice, you may cover the rest of your expenses with financial assistance.

For optimal aid consideration, you are strongly encouraged to submit your FAFSA between January 1 and January 31.