What financial aid options are available for college?

Hey everyone! I'm a junior and I'm starting to think about how to pay for college. I know financial aid is available, but I'm not sure what my options are or how to apply for it. Can anyone provide some insight or advice on financial aid? Thanks in advance!

Hey there! It's great that you're starting to think about financial aid early. There are a few main types of financial aid available for college students: grants, scholarships, work-study, and loans. I'll give you a brief overview of each. Grants and scholarships are often called 'gift aid' because they don't need to be repaid. They can be awarded based on merit, financial need, or both. Some examples are federal Pell Grants and state-specific grants, as well as scholarships offered by colleges, private organizations, and foundations. Work-study is a federal program that provides part-time jobs to students with financial need, allowing them to earn money to help pay for education expenses. Loans, on the other hand, have to be repaid with interest. Federal student loans are usually preferable to private loans because they offer more flexible repayment options and lower interest rates. To apply for financial aid, you'll need to complete the Free Application for Federal Student Aid (FAFSA) and, in some cases, the CSS Profile. Both forms become available on October 1st each year, and you should fill them out as soon as possible to maximize your aid eligibility. It's also a good idea to research scholarships that you might be eligible for and apply to as many as possible. There are many resources online to help you find scholarships, such as Fastweb and Cappex. Best of luck in your college journey!