Saving and Budgeting


Saving for College Tuition? Get Creative This Summer
The summer before college is a great time to start saving for college.

6 Creative Ways to Cover Your College Costs

How to Cover Your Application Fees

Summer Jobs That Pay Well and Look Good On College Applications

When Should You Put Down Your College Enrollment Deposit?

Does Starting at Community College Really Save Money?

4 Steps to Secure Your Summer Internship

How to Talk to Parents About Paying for College

Still Don’t Know How You’re Paying Tuition? Here’s What to Do

How to Get Your Budget College-Ready Now

Not Awarded Enough Aid? 4 Effective Ways to Cut Your College Costs

Tips for Borrowing Student Loans

I Got into My Dream School, But I Thought I Couldn't Afford It

A Real College Student’s Monthly Budget

Smart Financial Strategies for Your Graduation Money
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View 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. For example, you can enter to win a $5,000 Discover® Student Loans Scholarship Award with no required GPA, essay, or lengthy application
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.
FAFSA® is a registered trademark of the US Department of Education and is not affiliated with Discover® Student Loans.