How to Get Need Based Financial Aid

Financial aid helps you pay for things such as tuition and books.

Everyone has different financial resources, and if yours are limited, it makes paying for expenses such as a college education more challenging. Coming from limited means does not prevent you from affording an education, though. You just have to pay for it in a different way, and it starts with determining how much financial aid you are eligible for. Need-based financial aid is money, as in the form of loans, that is awarded to you based on how much help you need in paying for school. The amount for which you are eligible is determined not by you but by the government and your prospective schools.

Things You'll Need

• FAFSA application

Instructions

1. Fill out a Free Application for Federal Student Aid (FAFSA) form. These are available either online or in hard copy. Look for hard copies in public libraries and the financial aid office of your prospective school. The FAFSA requires you to report on your own earnings, as well as the earnings of your parents. Submit or send in your FAFSA form.

2. Look over your Student Aid Report (SAR). This report summarizes the data and results of your FAFSA. In addition to being sent to you, this report is also sent to any colleges and universities you name in your FAFSA.

3. Contact prospective schools for information on financial aid. Schools use the data from your SAR to determine how much aid you are eligible for, including scholarships, work study opportunities and grants. These are offered to you as a financial aid package.

4. Research outside scholarships. Businesses and organizations that are not affiliated with your school offer scholarships for students who apply, so investigate opportunities. For example, the company you work for may offer scholarships to employees going back to school. Opportunities like these are not guaranteed to offer aid based on need, but your need may help you be eligible for them.

References

• Washington Higher Education Coordinating Board: Paying for College: Applying for Financial Aid
• FAFSA: How Do I Apply for Aid?
• The ACT: Need-Based Financial Aid
• Penn Student Registration and Financial Services: Need-Based Financial Aid
• Yale: How Need-Based Financial Aid Works

Resources

• Georgian Court University: Need Based Financial Aid