Financing College

It's never too early to prepare for your college education. Learn about the college application process now.

Begin understanding the application process and what you need to know.
Calculate the costs of the university of interest and begin saving accordingly.
Make sure that you or your parents submit a Free Application for Federal Student Aid (FAFSA). Universities must have this in order to determine financial aid eligibility.

Forms of Funding

Research ways to pay for college by understanding the different forms of aid available:

A grant or scholarship is a gift. You are not required to pay back the money given in this form. Major sources include:
1. Institutional grants are those given by the university.
2. Private grants are given by private donors and industry.
3. Government grants are those given by government.
Work-study is money earned by students working at the institution while in college.
A loan is money that the student is required to pay back usually after the student graduates. Federal loans allow more time for repayment and are the cheapest types of loans. It is important that you understand the terms of repayment before accepting a loan.

Get answers to your financial aid questions and look for other sources for aid from the College Board and government.