Financial aid here we come

eHaving to file for financial aid is nothing to be ashamed of. Over seventy-five percent of students enrolling in college have to file for financial aid. Here are seven tips for you to keep in mind when you start sending in your applications.

• File as early as you can:

1. Typically, the earlier you send in your application, the higher the possibility that you will receive a better offer.

• Fill out the FASFA as early as possible:

1. This document is mandatory for financial aid and MUST be filled out before you file for financial aid. This document tells the schools the income you and/or your parents make and if you are a dependent or independent student. You need to fill this out to be eligible to obtain loans, grants, and other programs.

• Know the Financial Aid officers are there to help:

1. If you have any questions on scholarships, programs of the FASFA don’t be afraid to call and ask for help. This is their job. They are paid to answer any question you have about financial issues.

• Understand the difference between a Grant and a Loan:

1. If you don’t want to have too much debt getting out of college, look to see if you are eligible for scholarships and/or grants. These are free money and do not have to be paid back. If you pull out a loan it is good to remember that it has to be paid back-sometimes with interest- and though they help you get through college it can be challenging before you are on your feet. Experts recommend that students should not borrow more than the first year’s salary; and parents should not borrow more than one year’s pay.

• Understand the aid you’re offered:

1. It’s a good idea to compare your offers if you get multiple from different schools. Look and try to understand what you are receiving and what you are not.

• Consider work-study:

1. Work study is a paid job on campus that you can earn money for your tuition or personal use. It is your money. Though some areas around schools have better pay than work study, and is a good thing to watch out for before you apply.

• Know the attendance cost and possible extra costs:

1. It is smart to know what you need to pay so you can formulate a plan to help yourself financially. Form budgets and restrictions that can help you manage your money wisely and put some of it towards your tuition.

• Remember that it is okay to appeal:

1. If you get an offer you don’t particularly like it is okay to say no. If you received two offers from two different schools you can ask the school you wish to go to if they will match the better offer.