Hi! I'm a high school junior and I'm starting to look into college options. I'm a little bit stressed because I don't understand how financial aid works. Can someone please explain the basics of financial aid and how I can maximize the amount I receive? Thanks in advance for any help!
Hi there! It's great that you're starting to think about financial aid early in your college search. Understanding the basics of financial aid can help you make informed decisions about your college options.
Financial aid is essentially money that helps you pay for college. It can come in various forms, such as grants, scholarships, work-study opportunities, and loans. Grants and scholarships are considered 'free money' because they don't need to be repaid, while loans must be paid back with interest. Work-study programs provide part-time jobs for students to help pay for their education.
To maximize the amount of financial aid you receive, make sure to complete the Free Application for Federal Student Aid (FAFSA) as soon as it becomes available on October 1st of your senior year. This will help you qualify for federal, state, and institutional aid. Additionally, seek out scholarships from various sources, such as local organizations, your future college, and online databases. The more scholarships you apply for, the better your chances of receiving financial aid. Don't forget to maintain good grades and get involved in extracurricular activities, as these factors can also impact your eligibility for certain scholarships and grants.
Good luck with your college search!
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