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Where do I begin? Types of Financial Aid: Grants Scholarships Loans

Grants Scholarships Do NOT require repayment if requirements are met Offered by federal and state government, or by some individual institutions The Federal Government offers: Pell Grants – Amount of aid received depends on financial need, the school’s cost of attendance, and other factors Federal Supplemental Educational Opportunity Grants (FSEOG) – for students with exceptional financial need TEACH Grants- for students who plan to become a teacher and teach in high-need fields in low-income areas Iraq and Afghanistan Service Grants- Provide money for students whose parent or guardian died during military service Do NOT require repayment if requirements met Typically offered by individual institutions and/or private organizations Awarded based on a number of factors, such as academic performance, athletic ability, religious affiliation, and race Will often be asked to write an essay

Granted by private banks Federal Loans Private Loans Subsidized Available to students who have demonstrated financial need US Department of Education pays your interest while you are in school and the 6 months after you graduate Unsubsidized Awarded regardless of financial need Specialized Parent PLUS Loan- made to parents of dependent students to help pay expenses not covered by other options Perkins Loans – school-based loans for students with exceptional financial need Granted by private banks Can be used to bridge the gap between cost of education and amount of financial aid received Eligibility may depend on your credit score Tend to have higher interest rates

FAFSA.ed.gov Step One: FAFSA FAFSA (Free Application for Federal Student Aid) Application opens October 1 Students and parents may fill out application at the same time they are filling out college admission applications (you do not have to be accepted in order to send your FAFSA application to that school) Create a FAFSA ID, which will be your electronic signature FAFSA.ed.gov

PHEAA.org Step Two: PHEAA PHEAA (Pennsylvania State Grant Program) Once FAFSA application is complete, on the confirmation page, select “Transfer My Information to the PA State Grant Program” or visit website and create account Must be printed, completed, and mailed to Harrisburg address PHEAA.org

WRAP UP Once applications are complete, the Financial Aid Office at each school will process your information, which could take a few weeks. You will receive a Financial Aid Package or Letter detailing the types of financial aid and the amount of financial aid you have been offered

For an Overview of Financial Aid FAFSA Website Create your FAFSA ID PHEAA Website For an Overview of Financial Aid