Paying for College & Financial Aid Options

 The Free Application for Federal Student Aid (FAFSA) is a critical step in securing financial assistance for college. Every student, regardless of family income, should complete the FAFSA to access federal grants, work-study funds, and student loans.

Why complete the FAFSA?

• Determines eligibility for federal, state, and institutional aid
• Grants access to Pell Grants, subsidized loans, and work-study programs
• Required by many colleges to award scholarships and financial assistance

Important FAFSA Facts:

• Opens: October 1 each year
• Deadline: Varies by state and college, but applying early is best
• Processing Time: About 45 minutes to complete online
• Submission Cost: FREE—file at FAFSA® Application | Federal Student Aid

💡 Tip: The earlier you submit your FAFSA, the better! Many types of aid are first-come, first-served.

 FAFSA determines your financial need by analyzing:

• Family income (from two years prior)
• Untaxed income (child support, interest income)
• Savings & assets (bank balances, investments)
• Household size
• Number of college students in the family

Your Expected Family Contribution (EFC) is subtracted from your college’s total cost of attendance to determine your financial need.

✔ Federal Grants – Free money that does not need to be repaid
✔ Work-Study Employment – Part-time jobs to help cover expenses
✔ Federal Student Loans – Borrowed funds with lower interest rates
✔ State-Based Aid – Grants and scholarships from your home state

📌 Example:
If your school’s cost of attendance is $20,000/year and your EFC is $5,000, your financial need is $15,000. You may receive a combination of grants, loans, and work-study to help cover this cost.

 1. Use Grants if You Qualify

What is a Pell Grant?

• A federal grant for students with financial need
• Does not need to be repaid
• For the 2025-26 school year, the maximum award is $7,395

What is Federal Work-Study?

• Part-time jobs for students with financial need
• Encourages community service and jobs related to your major
• Available to full-time and part-time students

Before borrowing, compare loan types:

• Subsidized Loans: Interest paid by the government while in school
• Unsubsidized Loans: Interest accrues immediately

💡 Federal loans have lower interest rates and better repayment terms than private loans.

 Each state offers financial aid programs for residents. Some are linked to your FAFSA, while others require separate applications.

• Allows families to prepay future tuition costs
• Protects against rising tuition and inflation
• Guaranteed by the state of Florida

📌 For Florida residents: You must list an eligible Florida college on your FAFSA to qualify for state aid.

 Many organizations offer scholarships based on academic achievement, leadership, community service, and financial need.

📌 Where to Find Scholarships:

• High school guidance counselor offices
• College financial aid offices
• Online scholarship search engines
• Local businesses, churches, and nonprofit organizations

💡 Remember: College funding opportunities exist—you just have to apply! Start with the FAFSA, explore grants and scholarships, and consider work-study and loans if needed.

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