Financial Aid: A Resource Guide

Financial Aid: A Resource Guide

(Links on this page will open in new tabs.)

You have been accepted to the college of your choice, and life is grand!! The one thing left to consider is, how are you going to pay for this? This is a question that is present in the minds of many students and parents after that acceptance letter arrives in the mail. Since most of us do not have a rich relatives lining up at the front door to pay for college, it is important to think about what options are available to finance a college education. Here is a quick overview of financial aid options and resources:

Options to Pay for College:

Student Loans – Many students find themselves needing to finance a college education by themselves, or jointly with parents. This can be a daunting task for students and it can often be difficult to know all there is to know about student loans. The following websites will offer more information about student loans to pay for college expenses.

1. http://www.salliemae.com/
2. http://www.finaid.org/loans/
3. http://www.studentloanborrowerassistance.org/collections/federal-loans/default-and-delinquency/

Parent Loans – Conversation with your parents is important to determine how much they are willing to contribute to your college education. Some parents may be willing to help you finance your education. If they are not capable of paying for a portion of your education from a savings account, it is possible that parents can take out loans to help you finance your education. Here are some great sites to learn more about parent loans.

1. http://www.salliemae.com/student-loans 
2. http://www.studentloanborrowerassistance.org/collections/federal-loans/default-and-delinquency/
3. http://www.finaid.org/loans/parentloan.phtml

Government aid – As a college student, you will be required to fill out a government based financial aid document known as the FAFSA. By filling out this form, your families’ financial information is reviewed to determine if you are eligible for student aid and how much aid you should receive. Please see the following sites for more information:

1. Link to the FAFSA/Federal Student Aid: www.studentaid.gov

Military/ROTC – The military offers potential college students great options to help finance a college education. Participating in military service provides you with money towards college before or after the completion of four years of service to a branch of the military. Please see the following websites for more information about how the military can help with college tuition.

1. http://www.finaid.org/military/
2. https://www.military.com/education/gi-bill
3. https://www.todaysmilitary.com/living/paying-for-college
4. If this is an option that you are considering, please contact your school counselor to set up an appointment with a recruiter from the branch of the military that interests you for more information.

Scholarships

1. Scholarships from universities/colleges – The colleges or universities that you are applying to offer some opportunities to earn scholarships towards your education. Some scholarships are merit based (depend on your SAT/ACT scores and GPA) while other scholarships are need based. Go online to the websites of each college you are interested in to see what scholarship options might be available to you. You may also speak with an admissions counselor at the college of your choice for more information about scholarship options.
2. Online Scholarship Databases
   1. www.fastweb.com
   2. https://bigfuture.collegeboard.org/scholarship-search
   3. http://www.scholarships.com/
3. PHS Scholarship database – There are many scholarships offered locally to PHS High School Students. Check out the scholarship database for scholarship descriptions and online applications.

Here are some other general websites for information about financial aid:

Student Financial Aid Checklist:

1. http://www.finaid.org/students/checklist.phtml
2. www.finaid.org

** You may also contact your counselor for more information regarding financial aid.