You are making one of the smartest long term life and career decisions by applying to college. It’s time to work out how to pay for it. When you submitted your application, your parents also submitted a FASFA application. The FASFA includes your parent’s financial information and will be used by the federal government to determine how much federal college tuition assistance you qualify for. Although this amount in many cases is significant, in almost no situation will it cover the cost of your education?.
This is where loans, scholarships, and grants come into play. Bank loans allow you to borrow the money. You, however, will have to pay this money back at significant interest rates.
A more effortful but astronomically more rewarding option is to apply for grants and scholarships. Many universities will offer scholarships to students based on need, merit, or special ability (athletic or artistic). These scholarships are on a first applied first considered basis.
There are also millions of competitive scholarship dollars given every year by companies, specialty, and philanthropic organizations to help students afford a university education. Because they are competitive, a little more effort is required in the form of essay writing or some other creative/scientific endeavor. The pay off for this extra work can be enormous.
As you weigh your options, take a look at the scholarship and grants section on the website. You can also talk to your school counselor about known opportunities. Do it soon. Deadlines start in November.
You are almost there. Go forward, always pushing to succeed. Onward!