Financial Aid Checklist
| First
Thing, Make Sure You Complete Your Off-to-College Tasks
If you are going to college, make sure you complete and submit the required documents.
Deadlines include essay and application submissions, college visits,
housing selection, and gathering those things for the move. |
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| How Much Is It Going to Cost
Depends on where you are going:
Costs include tuition, housing, books, transportation and more: view expected college costs (aid step 1)
TIP: print our tally sheet to keep tabs on cost and the available aid that you get: print student aid tally sheet |
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| Where is the Money Coming From
$135 Billion dollars were disbursed last year in financial aid for students. The largest percentage was federal loans.
These are just some of the sources of financial aid. Other aid for college includes:
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| What is EFC
EFC is the Expected Family Contribution for higher education. In other words, financial aid is awarded based on a formula that calculates the total cost of attending school and the expected family contribution to that cost. |
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| Do
You Qualify for Financial Aid
Before you start the financial aid process, you must qualify as either a dependant or independent student. Review qualifications: |
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| Understand
the Financial Aid Process
First comes the FAFSA form, then the SAR, and then the Financial Aid letter from your school. Link to our Financial Aid Step to view the process: |
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| FAFSA
Submission
Almost all financial aid begins with your filing the Free Application
for Federal Student Aid (FAFSA). What you will need to file:
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| Understand
the Types and Sources of Student Financial Student Aid
Financial aid programs include grants, scholarships, loans, state programs, and other special aid. We have complete information on types and sources: You can view a summary chart of financial aid options: financial aid chart: for
undergraduates |
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| Check
with Your Financial Aid Office
Your school's financial aid office is the control center for student financial aid.
Talk with your college's financial aid office to see how they can help. Be prepared to ask questions such as:
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| Start Searching
for Scholarship Money
Scholarship awards can go fast, so start early — usually in
the Fall prior to the start of your college year.
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| Learn
About Student Stafford Loans
Student loans are the most widely used form of financial aid. These loans are backed by the Federal Government to guarantee low-interest rate loans.
View complete information:
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| Graduates Can Use the PLUS Loan
Graduates and professional students now qualify under the PLUS loan program to borrow up to the full cost of education. Deferment plans are available.
We have information about the GradPLUS loan:
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| See
How Parents Can Help
Parents of undergraduate students can assist with their child's education by applying for the Federal PLUS loans.
We have information about PLUS loans:
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| Private
Student Loans and Other Alternative Financing
Most financial aid awards do not cover the full cost of education. Many students are turning to private student loans and other alternative financing to finance their education.
These loans are not subject to Federal Government review and processing. You can get your money in as little as 5 business days.
See how the SayStudent Private Student Loan can work for you: view SayStudent Private Student Loans |
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| Home Equity Loans
Parents or students with equity value in their home can use home equity loan to pay for college. Funds can be borrowed as they are needed — not all at once under most other loan programs.
For more information: view our home equity section |
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| Finding
the Right Lender
When its time to submit your application for Federal and Private Education financing, our lending partners can process your application quickly for Stafford, PLUS, and Private Education Loans.
Apply for Financial Aid: click
here |
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| Managing Your Money
Money will be tight during school. You want to control spending and avoid unnecessary debt. View our recommendation on how to manage student funds while attending college.
Money management tips: click here |
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| Building
Your Credit
Starting school brings on many new responsibilities like building a strong credit report and managing your credit payments. This will benefit you in the future for:
We have complete credit and debt management tips including budgeting
monthly expenses: |
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| Saving
for College
Though it might be too late for the upcoming student, it is not too late for the other children in your family — or even yourself if your plans have yourself returning to school.
There are some interest savings strategies that can benefit you.
For detailed information: |
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| Consolidating
Student Loans
Don't forget that when you graduate from school, you can consolidate your federal loans into one single billing at repayment terms that fit your budget.
For detailed information:
Keep track of your student loans, scholarships and other financial aid for future reference and need: |
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