Financial Aid 101

How You Can Afford College

The countdown is almost over for high school seniors looking to get into college this coming fall, but it’s just starting for juniors who ideally should be readying themselves for the application process. Of course, a key part of this is not just picking out the right school, but also figuring out how you’re going to pay for it.

VOX sponsors a Graduation Countdown program where we recently have been investigating how to get financial aid, ranging from academic-performance scholarships to need-based help for those who don’t have much money for college. Here’s some information we’ve compiled to get you on track to put your financial fears behind you so you can get excited about the new life journey just ahead of you:

Top 5 Ways to Pay for Tuition

• Student Loans: Money borrowed by you — usually at a low interest rate — from your college, a bank or the federal government. Loans must be at least partially paid back after your undergraduate study, but not all at once.
• Scholarships: Money given to you by the state of Georgia (if you qualify for the Hope), your college and a wide variety of private organizations and businesses. You usually qualify for scholarships based on your grades, your field of study or financial need. Scholarship money generally does not have to be paid back.
• Grants: Money given to you by the government for college tuition and expenses. Unlike a loan, a grant does not have to be paid back.
• Work-Study: Many colleges offer employment opportunities to help students pay for classes.
• Your Parents: If you’re lucky!

Top 4 Financial Aid Web Sites

• www.fastweb.com: This site helps you find internships and college scholarships, as well as contains a lot of great articles about the do’s and don’ts of getting ready for college.
• www.collegeboard.com: Visit here to register for the SAT, ACT and test prep classes. It also features a lot of information about obtaining scholarships and grants. Of course, scoring well on a college entry test will help you earn money from your school of choice.
• www.gacollege411.com: A local site where you can get lots of help on applying to in-state colleges and attaining scholarships, including the Hope.
• www.google.com: If you know what you’re looking for, this mega search engine can be invaluable in locating financial aid resources you can’t uncover in the usual places.

Good luck and happy financial finding!

By Raisa Habersham / VOX Staff