When applying to your choice colleges, establish if they need a separate essay or application to apply for the institution's academic scholarships. It is also important to apply for third-party scholarships, which can either come from local businesses or national corporations; oftentimes these companies offer scholarships for outstanding scholars in order to foster community relationships and lower their tax burden. Some states even offer merit-based scholarships, or grants, that can help offset the cost of attending schools within the state. Louisiana, for example, offers the Taylor Opportunity Program for Students, which is a need-blind scholarship fund started to keep top scholars in state.
The Free Application for Federal Student Aid is your key for establishing your expected annual contribution for college costs, which is the amount you are expected to pay out of pocket. Additionally, the FAFSA will determine your financial "need," or the difference between what you can contribute and the cost of college attendance. This determines your eligibility for need-based funds such as Federal Pell Grants and Federal Supplemental Education Opportunity Grants. In addition to these grants, colleges often have their own funds to assist those who do not have their full need met by federal funds.
Federal work-study programs offer students a chance to work for need-based aid. Eligibility is determined by the FAFSA, and if accepted into a work-study program the student can choose to work a part-time job to help offset college costs. The programs generally offer the student a choice of employment within the university, but some of these jobs may be for government agencies, nonprofits or private-sector companies. The pay is generally minimum wage or slightly above, but the work tends to be less intensive than independent outside employment.
While the funds obtained from merit-based scholarships, need-based grants and work-study jobs are yours to keep without any strings attached, loans require that you pay them back. Government loans are guaranteed, but the interest rates can be higher than private loans, depending on your family's credit situation. Remember to treat loans as a last-ditch effort, especially if your field of study is not yet determined or if you are entering into a low-paying field.