Paying For College
One of the most stressful parts of college planning is related to finances. College can be expensive, so it is very important that you plan well and maximize your opportunities for assistance. There are some of terms which will be very helpful to know when paying for college:
Look in the Documents and Resources section for links to helpful websites and documents.
- Grant: A grant is money that you receive that does not have to be repaid. There are a wide variety of grants available. Remember grant is good.
- Scholarship: Scholarship money is awarded based on a student's talent. Scholarships are given for academic, athletic, artistic, and other talents. All scholarships have different requirements and qualifications, so be careful to read the application closely to determine necessary procedures for any given scholarship.
- Loan: Loans are given to students and parents to pay for college costs. These also vary widely in interest rates and expectations for repayment.
- FAFSA: Free Application for Federal Student Aid. FAFSA is the means by which the federal government provides information to colleges and universities about a family's finances. Students are encouraged to file the FAFSA online by March 1 of the senior year.
- EFC: Expected Family Contribution is a term used by the federal government to determine how much a family can pay per year for a student's education. The number is given on the basis of the information provided on the FAFSA.
Look in the Documents and Resources section for links to helpful websites and documents.