Saturday, February 19, 2011

Scholarships & Financial Aid

Be aware that scholarships do affect your ability to qualify for financial aid. The Finacial Aid office uses a formula to determine your need. If the income surpasses your yearly costs to attend, it is determined that you do not need financial aid.

This should not be a reason to stop applying for scholarships because you stand to make more money in scholarships than with financial aid. Although your finacial aid may be sufficient to cover your academic expenses while attending a community college, you will definitely need a considerable amount more when attending a four-year college.

Each Financial Aid office functions a bit differently so you need to become familiar with the process at the college you will be attending. Since most scholarships are sent to the college with your name and the name of the college, the Financial Aid office is fully aware of all of your awards.

If you want to earn a college degree without going into great debt,scholarships are the answer, but you can't have both financial aid and scholarships if dollars earned through scholarships and grants far exceed the cost of attending the college annually. Financial aid is for UNMET NEEDS.

You need to think beyond the cost to attend a community college. Start preparing for paying tuition and fees at a four-year college/university. Do you want or can you afford to have $200,000 (the average student incurs a debt of at least $20,000) in student loans when you finish college?

By the way, even if you don't qualify for financial aid, you must apply because most orgnizations offering scholarships require proof that you have applied for FAFSA.

Now, be proactive and start the scholarship application process. The ideal time to start looking for scholarships is in the junior year of high school. Are you on track??

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