Financial+Aid

== =There are FOUR TYPES of financial assistance:=

__SCHOLARSHIPS:__

 * Nonrepayable awards based on merit or merit plus need

__GRANTS:__

 * Nonrepayable based on need

__LOANS:__

 * Funds loaned through a lending institution with interest rates that are usually reasonable. There are two types of loans, subsidized and unsubsidized. Subsidized loans are based on financial need, and the government pays the interest on the loan while the student is enrolled at least half time in an institution, and during grace periods and deferrments. Unsubsidized loans are not based on financial need, and the interest is not paid by the government, but begins to acrue once the loan is disbursed.
 * The Federal Direct PLUS Loan is another unsubsidized loan program for parent borrowers which is designed for middle to higher income families who may not qualify for other financial assistance and can accommodate loan payments while their student is in school.

__WORK STUDY PROGRAMS:__

 * Jobs that allow the student to earn money toward an education while still enrolled in school. (Students can sometimes get jobs related to their program of study.)


 * //The Free Application for Federal Student Aid (FAFSA) will determine your eligibility for student loans, student grants, and work study. Students and their parents/guardians will fill this out after the family has received their W2's for the 2011 tax year and will have to use their 2011 income tax forms to fill out the application. It is important that you submit your FAFSA application as soon as possible, preferably by March 1st. The application is located online at [|www.fafsa.ed.gov].//**
 * //For help filling out the FAFSA form, plan on attending COLLEGE GOAL SUNDAY!//**
 * //Here you can get FREE professional assistance in filling out your FAFSA!//**
 * **//February 2012 - For date and locations go to [|www.collegegoalsd.org]//**
 * **//Assistance Available this day://**
 * **//FAFSA on the Web//**
 * **//Financial Literacy//**
 * **//Foster & Homeless Youth//**
 * **//Grants/Scholarships//**
 * **//Loans/Borrowing//**
 * **//One-on-One assistance//**
 * **//Paper FAFSA//**
 * **//Go to [|www.collegegoalsundayusa.org] for more information.//**


 * You can also go to [|www.fafsa4caster.ed.gov] to get a head start on your FAFSA application before January 1st. Here you can get an early estimate of your eligibility for federal student aid, among other things to help with your application.**

**Be sure you attend the Financial Aid Night at Clark High School in January! (official date TBA)**

 * YOU WILL NEED TO REAPPLY FOR FINANCIAL AID EACH YEAR!!!**
 * APPLY FOR ADMISSION AS WELL AS FINANCIAL AID:** Institutions require both an application for admission and for financial aid. Application deadlines are very important and vary with each institution. Find these out and meet the deadlines. You can not receive financial aid until you have been accepted to an institution.


 * APPLY FOR SCHOLARSHIPS AND GRANTS:** Besides aid offered directly by an institution and aid for which your FAFSA form awards (example: Pell Grant), be sure to inquire about state scholarships, grants and loan programs.