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Financial Aid for College. Sources of Aid. Government Federal State Institutional Varies by schools Private. Government Aid. Types of aid Grants Federal Student Loans Work-Study Programs Scholarships. Grants. Grants are: “Gift aid”

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sources of aid
Sources of Aid
  • Government
    • Federal
    • State
  • Institutional
    • Varies by schools
  • Private
government aid
Government Aid
  • Types of aid
    • Grants
    • Federal Student Loans
    • Work-Study Programs
    • Scholarships
grants
Grants

Grants are:

  • “Gift aid”
    • Financial aid that does not have to be repaid
  • Often need-based
federal perkins loan program
Federal Perkins Loan Program
  • For undergraduate students
  • Demonstrate financial need:
  • Up to $5,500
  • Students enrolled: at least half-time
  • Interest: 5%
  • Enrolled at least part-time
  • Student pays interest
  • Not all schools participate in the Federal Perkins Loan Program
  • Funds depend on student’s financial need and availability of funds at the college
federal work study
Federal Work-Study
  • Provides part-time jobs for undergraduate with financial need
  • Encourages community service work and work related to the student’s course of study

This program is first come, first serve!

government scholarships
Government Scholarships
  • Scholarships are “gift aid”
  • Government scholarships are available from the state
  • Amount of award varies
  • Type of award
    • One-time
    • Renewable
    • Eligible for the award if you meet the requirements (no need to reapply)se scholarships offer both Merit-Based and Need-Based
  • Types of scholarships
    • Academically talented students
    • Students from minority groups
    • Low-income students
    • students pursuing high-need fields of study (such as STEM fields)
state scholarships
State Scholarships

Find scholarships at:

http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_cd=SGT

government aid1
Government Aid
  • To qualify for this aid, you must complete the:

Free Application for Federal Student Aid (FAFSA)

institutional aid
Institutional Aid
  • Provides scholarships
    • Merit-Based
    • Need-Based
  • Varies with each institution
  • Featured program scholarships

SHPE Foundation

scholarships
Scholarships
  • Types of Scholarships
    • Merit-Based
    • Need-Based
  • Available from
    • Corporations
    • Organizations
    • Non-profits
    • Businesses
  • Specific Scholarships
    • Minority groups
    • Leadership
    • Field of Study
    • Community Service
private student loans
Private Student Loans
  • Lenders maybe a
    • bank,
    • credit union,
    • state agency, or
    • school
  • Loans should be a last resort as interest payments may be high
private student loans1
Private Student Loans
  • Many require payments be made during school
  • May require established credit score
  • May need a co-signer
  • Interest rate
    • Variable
    • Some greater than 18%
    • Student pays the interest
helpful links
Helpful Links
  • www.finaid.org
  • www.studentaid.ed.gov
  • studentloans.gov/myDirectLoan/index.action
  • www.collegescholarships.org

SHPE Foundation

slide19

Contact Us

Stacie Freasier

Program Manager

[email protected]

703-373-7930 ext. 204

Ariadna Mahon-Santos

Program Coordinator

[email protected]

703-373-7930 ext. 203

SHPE Foundation

1444 Duke St.

Alexandria, VA 22314

Danielle Carneiro

Program Coordinator

[email protected]

703-373-7930 ext. 202

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