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How to Find Tons of Financial Aid for College

April 26, 2012 | Comments: 0 | Views: 196

A lot of students and parents struggle with finding methods for getting financial aid for college. For some, their student may be the first one to attend college. For others, the process of filling out a mountain of financial aid paperwork can seem overwhelming.

The reality is that finding money for college is possible, nevertheless it takes work up front. You have to be willing to endure some paperwork, write essays as required and stay organized enough to record your family's income (in the case for Pell Grants).

Outlined underneath are 4 major educational funding programs you will want to consider as well as tips for making your application better yet.

But I Won't Meet the criteria, So Why Bother Applying?

Never brush off educational funding simply because you believe that you won't qualify - specifically when it comes to income. It's better to find out that you simply don't qualify for funding for school than to conclude for yourself because of your income level.

Complete FAFSA Before the Deadline

First, what's the FAFSA? FAFSA stands for Free Application for Federal Student Aid. It's an application that can be prepared annually by students that determines whether or not the student is eligible to receive Federal financial aid.

Each state has a set of deadlines that you need to follow when filling out the FAFSA. The FAFSA deadlines page will allow you to view your state's deadlines. With regards to filing your FAFSA, the sooner you do, the better your chances of getting financial aid. Some educational funding programs have small supplies of cash that is handed out on a first come first serve basis.

Submit an application for State Aid

After finishing the FAFSA, talk to your state to locate scholarship options available only for its residents. By way of example, the state of Indiana has a program referred to as State Student Assistance. It provides need based grants through its Twenty-first Century scholars program which helps students pay for some or all of their university fees.

Your state may have a similar program, so visit your state's web page and type "college aid" in the search bar.

Federal Pell Grant Program

The best part about a Pell Grant is that it doesn't need to be repaid. The most awarded is $5,550 and you must be an undergraduate student who has not previously attained a bachelor's or professional degree.

You need to fill in the FAFSA to be eligible for a Pell Grant and you need to apply through your school. Check with your educational funding office to make sure you have all the paperwork complete to receive a Pell Grant. If you are eligible to receive a Pell Grant, the institution will receive the funds for your benefit and you'll be able to apply it directly to the tuition and other educational expenses.

Teach Grant Program

If you'd like to go after teaching and want to teach in a public or private elementary or secondary school that assists students from low income families, you may be eligible to receive the TEACH Grant. TEACH stands for Teacher Education Assistance for College and Higher Education. If you qualify, you may receive around $4,000 each year of school. The program requires you to accept the terms laid out on the TEACH Grant website. Some general specifications are as follows:

You must work as a full-time teacher for a total of at least four instructional years within 8 schedule years after you completed or withdrew from the academic program for which you received the TEACH Grant.You need to perform the teaching service as a highly-qualified teacher at a low-income institution.

Your teaching service must be in a high-need field.

If you do not complete the required teaching service requirement, TEACH Grant funds you received will be converted to a Federal Direct Unsubsidized Stafford Loan you have to pay back, with interest charged from the date of each TEACH Grant disbursement.

Learning about 529 savings plans should not be hard. For those who want to learn more, head over to 529 Plans by State!

Source: EzineArticles
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