Financial Aid
Learn more about your award letters and how to pay for college with financial aid, including loans, grants, and work-study.
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Marital Status and the FAFSA®: Expert Answers to Your Questions
Students whose parents are separated or divorced need to know these FAFSA rules, which apply regardless of custody or divorce agreements.
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How to Get More Financial Aid When Your Family’s Finances Have Changed
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Do No-Need Applicants Have an Advantage Over Those Who Need Aid?
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What I Wish I Had Known About Paying for College
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How Might the FAFSA® Simplification Act Affect You?
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Quiz: Are You Prepared for the FAFSA®?
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Can I Estimate My Student's Financial Aid?
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FAFSA 101: Your Financial Aid FAQs Answered
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How I Appealed My Financial Aid Package and Got More Money
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I Was Wrong About FAFSA® and It Almost Cost Me Big-Time
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With the FAFSA® Complete, Get Ready for Your Next Financial Aid Steps
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How Does My Federal Student Loan Debt Impact My Teen’s FAFSA®?
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How to Report Your Income on the FAFSA®
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Everything You Need to Know About Financial Aid Award Letters
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5 Really Fun Work-Study Jobs That Actually Exist
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Don’t Let These 8 Common Award Letter Mistakes Cost You Money
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6 Work Opportunities Available to College Students
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Student Aid Report - What You Need to Know
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Hit Your Deadlines With This Key Financial Aid Timeline
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What are the FAFSA® Income Requirements?
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How Does Citizenship Status Affect the FAFSA®?
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Don’t Let These FAFSA® Mistakes Cost You Money
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Experts Break Down a Financial Aid Award Letter
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6 Effective Things to Say When Negotiating for More Financial Aid
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My Work-Study Job Was the Best Part of My Education
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8 Tips for Work-Study Success
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Quiz: How Well Do You Understand Your Financial Aid Award Letters?
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What Your Award Letter Is Really Telling You
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Your Guide to Filling Out the FAFSA®
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Quiz: How Well Do You Understand Financial Aid?
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Fall for These FAFSA® Myths and You Could Be Losing Free Money
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How Reporting a 529 Plan Impacts the FAFSA®
Loan Calculators
Show all calculatorsFrequently Asked Questions
Financial aid is money that helps cover the cost of college, including tuition and room and board. It can take the form of scholarships and grants (which don’t need to be repaid), loans (which do need to be repaid), and work-study. Financial aid may include federal financial aid or aid from the college or university. While some aid is based on income, some is merit-based. The first step in applying for aid is filling out the FAFSA® (Free Application for Federal Student Aid) and looking for scholarship opportunities.
Student loans are often the catchall term to describe any financial assistance that needs to be repaid. This includes federal loans, as well as private loans. Private student loans may be an option to help cover remaining college expenses, but they are not part of the FAFSA and may not be listed as part of your award letter.
Scholarships are awarded on a national, regional, and local level. There also may be scholarships distributed by your college. The best way to find scholarships is to search and apply for scholarships that match your criteria. While some scholarships are merit-based, not all are.
A merit scholarship is awarded on merit (grades, special skills, or achievements) and not solely based on financial need. Merit scholarships are commonly awarded for academic excellence, but not always. Merit scholarships may also be awarded for athletic ability, artistic ability, and more.
It’s possible to pay for college without the financial support of your parents. But even if you’re paying for college independently, you may need to include your parent’s information on the FAFSA. Applying for financial aid, considering community college, and applying for scholarships can all help you cover college costs independently.
Since most people qualify for some aid, it is a good idea to fill out the FAFSA even if you don’t think your family will qualify for financial aid. Some aid is first come, first served, so be sure to fill out the FAFSA as soon as it’s available.