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Paying for College

Financial Aid Basics
by

Karl Liedtka

on 20 September 2016

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Transcript of Paying for College

I completed the FAFSA now what?
The information that you completed for the FAFSA will be sent to the federal government. The Office of Student Aid will then determine based on this information, what grants, loans or work study programs in which you are eligible.

This information will be sent to you and the colleges that you listed on your FASFA in the form of a Student Aid Report (SAR). The colleges that you applied to and listed on the FASA will then be able to create a financial aid package and will send you an awards letter. This letter will tell you what financial aid you are eligible for and what it will cost you to attend college.

You will want to compare the financial aid packages from each of the schools to which you applied to see which one best fits your budget.


Scholarship Information
Scholarships are awarded to students who have accomplished something significant. If you are an excellent musician, have earned good grades or have committed yourself to volunteering in the community you may be eligible for scholarships.

Also, many scholarships are made available to students because of the subject they want to study in college, through religious affiliations or because they are a member of a specific ethnic group or a community service organization.

There are thousands of scholarships offered every year but you must meet the criteria in order to be considered. The first key to a successful scholarship search is to find scholarships in which you qualify. Secondly, you must complete your application by the deadline and meet all the requirements.
It comes down to this...
Post-Secondary Education
Once you graduate from high school you have many decision to make regarding your post-secondary plans. You might consider joining the military, you might enter directly into the workforce or you may consider continuing your education at a 2-year or 4-year college.

When making decisions about your academic plans after high school you have to consider the cost of your education.

College is expensive but don't let that fact scare you away from continuing your education. There are many resources that can help you get money for college.

The resources that are available to help you pay for college are called Financial Aid and we will cover the basics of Financial Aid (How to get money for college) in this presentation.
Types of Financial Aid
Financial Aid comes in different forms

Grants
Grants are a type of Financial Aid that a student does not have to pay back. This money is based on financial need.

Loans
Loans are a type of Financial Aid that a student must repay. Some loans are based on financial need while others can come from private lenders such as a bank or credit union.

Scholarships
Scholarships are a type of Financial Aid that a student does not have to repay. Scholarships are awarded to students based on something that they have accomplished - like having good grades, or volunteering and community service.

Work Study
Work Study is a type of Financial Aid that allows students to earn money for college by working on campus.


How Do I Get Financial Aid?
Financial Aid
Cost of Attendance
How Can I Get Help Paying for College?
Money For College - The Financial Aid Process
Consistent hard work and good grades will
give you the
opportunity
to have many educational
options after high school.

Good Grades combined with the financial aid process can
make college an affordable reality.
The Financial Aid process begins with completing the FREE APPLICATION FOR FEDERAL STUDENT AID. This application is also known as the FAFSA.

The FAFSA is a FREE application that you will complete online by visiting FAFSA.gov. You will begin this part of the process in January of your senior year of high school.

However, scholarships are something you can begin searching for today! Make sure to speak with your school counselor to receive information on the scholarships that are offered for Lebanon High School students and throughout Lebanon County and Pennsylvania.

The counseling office receives many scholarships from outside sources and the applications are available in the counseling office and on the counseling department facebook page.
When to comes to figuring out the cost of attending a college you have to consider each of these factors:










When you are figuring out your Financial Aid Package, this includes all types of aid, including:









College is expensive, but remember there are a lot of resources to help you reach your goals!
The End
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