Financial Aid

The Free Application for Federal Student Aid (FAFSA®) is the application for federal grants, loans and work-study opportunities. The FAFSA is completed by students and families in hopes of receiving federal financial support for college. Students who complete FAFSA are statistically more likely to apply to, attend and graduate from college.

You will know how much (and what kind of) financial aid you qualify for through financial aid offers. These offer letters sent by colleges only after you’ve completed the FAFSA and been accepted to college(s) outline how much the college will cost and what kind of financial aid package you’ll receive for one year.

Not all financial aid offers look the same, but they contain the same general information, including:

• Grant, Scholarships, Work-study, Federal student loans.
• Cost of attendance (COA), an estimate of what you can expect to pay for tuition and fees, room and board, books and supplies, and personal expenses for one year.
• Expected Family Contribution (EFC), an index number that colleges use to determine financial aid eligibility.
• The remaining amount, or funding gap, that you’ll have to make up from other sources.

Review these offers carefully! And if multiple financial aid offers are being compared, analyze each offer letter to determine which college is offering the most financial aid to the student.

If you have used financial aid in the past, the college admissions representative and/or financial aid office can help you understand relevant rules regarding federal financial aid. For instance, if you already have student loans, you can request an in-school deferment. The in-school deferment makes it possible for you to delay repaying student loan debt while in school. While this deferment may help you with your financial situation while in school, borrowers should note that interest will accrue during the deferment period.

If you have used federal aid previously, you can monitor all of your federal student loan debt, or access your loan history online, at https://studentaid.gov or call toll-free (800) 433-3243. You will need an FSA ID to view your loan history. Please note that this website does not list any state or private student loans.