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Financial Aid is the term for getting help paying for college.

This help can come from:

• the federal government

• the state government

• the college itself (also called institutional aid)

• private scholarships.

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Financial aid comes in two forms: need-based aid and merit aid.

• Need-based aid is provided when the federal government, state government, and/or college have determined that a family has a need for financial assistance in order for the student to attend college (based on information they receive on your financial aid forms – FAFSA and CSS Profile). Unfortunately, financial need is not based on what a family thinks they can or cannot afford to pay!

• Merit aid is provided by the college to students identified as having a special talent or academic merit (ex: high grades, recruited athlete). Used to woo students.

 

Please see the full list of financial aid terms in the final drop-down in this section. 

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Comprehensive Financial Aid Presentation - click here to view: Applying for Financial Aid

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Helpful Websites for Financial Aid and Paying for College:

• Lynn O’Shaughnessy's College Solution

  • ​https://thecollegesolution.com

• Federal Financial Aid: 

  • ​https://studentaid.gov/

• Consumer Finance Protection Bureau:  

  • ​https://https://www.consumerfinance.gov/paying-for-college//

• Finaid:  

  • ​https://finaid.org/

• College Board:

  • ​https://bigfuture.collegeboard.org/pay-for-college/financial-aid

• The College Solution:

  • ​https://www.thecollegesolution.com/

• Madison Trust - Money For College and a Guide to Scholarships and Financial Aid:

  • ​https://www.madisontrust.com/client-resources/articles/money-for-college-guide-to-scholarships-and-financial-aid/

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