 |
Post Title:
Financial Aid Overview
Post Date: Wednesday October 3, 2005
Financial Aid Overview
Two major types of financial aid are available to graduate students: (1) financial aid based on academic merit, and (2) financial aid based on need. Various types of financial aid are awarded on the basis of need, academic merit, or both. Most government sources of financial aid are need-based. Students receiving financial aid are required by federal regulations to be making satisfactory progress toward a degree or certificate program. All particulars relating to tuition, fees, and financial aid are subject to change, so make sure you know the school's financial aid policies. Students interested in applying for financial aid are encouraged to do so as early as possible, but your chances of receiving financial aid are the same no matter when you apply.
As you request catalogues from colleges, also ask for a financial aid application and any related information. Do not assume that all colleges award financial aid. A free service with profiles of 3700+ colleges and universities, electronic applications, financial aid information, and career planning tools can be found on the web, that also includes a page on scholarships called Using the Internet to Find Out About Colleges, Universities, and Financial Aid. You'll also find a directory of colleges which let you fill out a simple online form to request detailed school and financial aid information.
You will typically need the following information to complete your application or worksheet:
o Your Social Security Number and your parents’ Social Security Numbers if you are providing parent information.
o Your driver’s license number if you have one.
o Your Alien Registration Number if you are not a U.S. citizen.
o 2005 federal tax information or tax returns (including IRS W-2 information) for yourself and spouse if you are married, and for your parents if you are providing parent information. If you have not yet filed a 2005 income tax return, you can still submit your FAFSA but you must provide income and tax information.
o Records of untaxed income, such as Social Security benefits, welfare benefits (e.g., TANF), and veterans benefits, for yourself, and your parents if you are providing parent information.
o Information on savings, investments, and business and farm assets for yourself, and your parents if you are providing parent information.
Individual colleges and universities may provide grants and need- and merit-based scholarships. If you're not sure which forms to send to which colleges, call the colleges' financial aid offices and ask. Colleges normally send an "award letter" to students, listing programs of aid and amounts available. Be sure to file all forms in time to meet the colleges' financial aid application deadlines. Compare the colleges that have accepted you and the financial aid they've awarded. Most colleges tell families that the size of a financial aid award depends upon the student's ability to pay and academic performance.
Some US schools have direct exchange programs with their counterparts in foreign countries. Schools, public libraries, and the web are excellent sources for resources about financial aid. Search Google for links to all services for schools, a calendar of financial aid events, and current headlines. Not all schools participate in all federal student aid programs. Visit the schools on your list, meeting with admissions and financial aid staff, and with students and faculty. Many schools begin making awards in March. Only a handful of those schools, however, also give those early applicants better treatment in financial aid. Notify any schools that may have accepted you but that you have not chosen that you will not be attending them.
Most Recent Comments on " Financial Aid Overview " Post - Last Updated on Tuesday January 06th 2009:

WGU - Education Online - Financial Aid Overview
Western Governors University is an accredited online university offering distance learning and adult education towards an online degree or certification.
www.wgu.edu
Hopkins Undergraduate Admissions :: Financial Aid :: Overview
The Johns Hopkins University Office of Undergraduate Admissions services prospective students interested in full-time ... Financial aid packages typically ...
apply.jhu.edu