Continuing your education beyond high school may require less money than you think. Every year, West Virginians receive over $150 million in federal and state financial aid. If you’re going to need help paying for your education, you’re not alone. Most families explore financial aid to help pay for education, and you have plenty of options. Many free resources are available, so you don’t have to pay anyone to help you find financial aid or apply for it. High school counselors and college financial aid offices are all ready to help you. The links to the left have information about specific programs offered in West Virginia.
FINANCIAL AID 101: SHOW ME THE MONEY!
Myths about financial aid:
- My parents make too much money, so I'll never get help.
- Only people with perfect GPAs get scholarships.
- You can only get financial aid if you pay someone to help you find it!
The truth about financial aid:
- It's available for everyone and it comes in all shapes and sizes.
- You don't need to pay anyone for help.
Scholarships. A scholarship is an amount of money for education given to a student by colleges, businesses, individuals, organizations, churches, governments and other groups. Scholarships are usually earned through good grades, being talented at a particular sport, or having a unique ability or talent. Search for scholarships for free at http://www.fastweb.com/.
Grants. A grant is money given to a student to pay for college expenses and is usually given to students who can show financial need based on family income. Grants are free money based on need. Therefore, grants do not have to be repaid.
Loans. A loan is an amount of money for educational expenses given to a student by banks, the government and other lending institutions. Because the money is a loan, it has to be paid back, though usually not until the student graduates and has begun to earn money.
Work-Study Programs. Students in a work-study program spend a certain number of hours every week working in exchange for money for school.
Military Service. The U.S. Army, Navy, Air Force, and Marines all have programs that allow you to earn money for college in exchange for enlisting in a branch of the military. For more information on how military service can help in your pursuit of a college education, visit http://www.veteranseducationwv.com/.
START THE FINANCIAL AID PROCESS BY FILLING OUT THE FAFSA AND THE APPLICATION FOR STATE LEVEL FINANCIAL AID PROGRAMS
Complete the Free Application for Federal Student Aid (FAFSA) when you are a senior in high school and every year for which you want to be considered for financial aid. File the FAFSA as soon after January 1, because funding is limited. The FAFSA will determine your financial need for many federal and state programs.
You may obtain a FAFSA form:
- from a college financial aid office
- from your high school counselor
- from a public library
- by calling 1-800-4-FED-AID (1-800-433-3243)
Or, you can complete the FAFSA online at http://www.fafsa.ed.gov/! Do not forget, the deadline to fill out the FAFSA online is June 30, 2006. Although the deadline for filling out the FAFSA is not until June 30, 2007, in order to be considered for state level financial aid programs like the West Virginia Higher Education Grant Program, the FAFSA must be completed by March 1, 2007.
To receive a free copy of The Student Guide – Financial Aid, call 1-800-4-FED-AID or download it at http://studentaid.ed.gov/students/publications/student_guide/index.html.
Also, don’t forget about the Application for State Level Financial Aid Programs. Fill out the application online at http://www.wvapply.com/ by March 1, 2007.