| Step 1: | | | | Step 6: |
| The first step is to go to the college(s) of interest | | | | Federal loans are Title IV funding, which makes it |
| and take a tour. Take notice if students there are | | | | easier to pay back versus private loans. Federal loans |
| happy or unhappy. Is it the right environment for | | | | (Stafford loans) will allow you to defer or postpone |
| you? Can you see yourself going to school with | | | | your payments at anytime. If you cannot make your |
| these type of students? Does this college offer Title | | | | payments due to financial burden, always ask for a |
| IV funding? Title IV funding is federal money from | | | | forbearance or economic hardship deferment. One of |
| the government, and is the key to reducing your | | | | these requests will be granted to you. |
| tuition costs. | | | | Step 7: |
| Step 2: | | | | Earn, save, and pay for college with Upromise: No |
| Talk with a financial aid advisor. Ask for a list of free | | | | matter where you are in life, Upromise® ( can |
| money and how to apply for it. Ask if they have any | | | | help. Whether you are saving for your child's college |
| community scholarships or private scholarships. And | | | | education, paying for a child now in school, or |
| most importantly, do they offer a work-study | | | | repaying your own student loans, Upromise can show |
| program? Work-study is when you obtain part-time | | | | you how to earn, save, and pay for college. |
| employment within the college and the government | | | | Step 8: |
| pays your salary. | | | | Adding up your tuition costs and free money: |
| Step 3: | | | | - Figure out your costs of tuition and subtract the |
| See if you qualify for any free money by filling out | | | | free money, grants, scholarships, work-study salary, |
| the FAFSA application and other paperwork. At this | | | | etc. |
| time, you should be applying for every scholarship | | | | - If your financial aid results EFC was zero or a low |
| possible online The more scholarships you apply for, | | | | number, then you qualified for grants (free money). |
| the more chances you can win free money. It does | | | | What's an EFC? Go to for explanation. |
| entail homework, writing essays, or getting involved | | | | - Your tuition costs should be lowered, or zero, or |
| with your community. In the end, it can lower your | | | | sometimes a negative number. If it's a negative |
| financial school debt. For most students, they were | | | | amount, the school may owe you a check. |
| able to lower their tuition costs to zero. If you are a | | | | - Once you find out that your EFC qualified you for |
| minority, apply for that type of scholarship or the | | | | grants, wait 30 days after your financial aid |
| ones that are appealing to you. Can't find the right | | | | assessment. Go back in and ask your financial aid |
| scholarship for you? Ask your employer or your | | | | advisor if you qualified for any additional free aid and |
| parent's employer if they offer tuition reimbursement. | | | | how much. Also, ask if you will receive excess cash |
| Some colleges offer a large discount for your child if | | | | from your financial aid package. You may not qualify |
| you work for them; and some offer free tuition (the | | | | for excess cash now, but you may in the future. |
| best way to go to college for free)! | | | | Especially if your EFC number is low and you already |
| Step 4: | | | | qualified for the state grants or a large scholarship(s). |
| The types of free money you can get from the | | | | - Financial aid is disbursed by your school term. Your |
| FAFSA application should consist of these types of | | | | aid does not come in all at once. So, after each term |
| grants: | | | | or quarter, go in and consult with financial aid. You |
| - Pell Grant, $500 to $5,350; | | | | may be surprised, and receive a stipend check from |
| - Academic Competitiveness Grant (ACG) $850 on | | | | the school (THIS IS FREE MONEY)! |
| average; | | | | Step 9: |
| - National SMART Grant, up to $4,000; | | | | Now, how much do you owe in loans, if any? Federal |
| - Federal Supplemental Education Opportunity Grants | | | | loans go into repayment six months after you leave |
| (FSEOG),$100 to $4,000 are reserved for the | | | | school. So, how are you going to repay your loans? |
| neediest of students; | | | | If you received a check from your school from |
| - State Grants- can range from $300 to $9,708 | | | | excess cash, you have the option of returning the |
| annually. To find these grants and how to apply, | | | | check to the school to pay down your loan debt |
| check the Web site for your state's student-aid or | | | | (highly recommended). Having to pay back school |
| higher-education commission; | | | | loans can be very stressful, especially if you're not |
| - Institutional Grants- These grants come from the | | | | working yet or seeking employment in your new |
| colleges themselves, and they are handed out when | | | | career field. Consider the Upromise plan in step 7, and |
| federal and state aid isn't enough. | | | | also seek additional resources such as Americorps. ( |
| Step 5: | | | | Step 10: |
| Look for the college that offers all of the grants or | | | | Montgomery G.I. Bill: |
| scholarships above. It may not be enough to cover | | | | If are in the military, reserves, or a veteran, take |
| your full tuition, but federal loans are available without | | | | advantage of participating in the Montgomery GI Bill. |
| credit checks. By applying for federal loans and/or | | | | By paying into it, you can receive money for living |
| private loans (credit based), you can cover your full | | | | expenses, such as rent, food, transportation, college |
| tuition to avoid in-school payments. Having to make | | | | tuition, computer for school, etc. It only lasts for so |
| payments while in school can be a financial burden. | | | | long, so use it soon after your discharge. |