What kinds of aid are available for students and their families? The government divides aid into need-based and merit-based aid. The first, obviously, assists families who need financial help in sending their children to college. Merit-based aid is aimed at those high school and college students who have demonstrated their eligibility for financial aid based on their high grade point averages and other academic measures. For instance, some merit-based aid is given depending on the student's involvement in organizations such as National Honor Society or the Boy Scouts.
What kinds of financial aid can you and your family tap into? There are loans must be repaid after graduation. Grants are provided obligation-free, often based on financial need. Full and partial sholarships come in many forms, with various terms and conditions. Scholarships often target specific student populations, such as ethnicity, intended major or belonging to a specific class, such as the children of a deceased military member. Scholarships often require a written essays that emphasize personal and leadership characteristics.
Finding scholarships doesn't mean your child has to earn top grades. If he is persistent in looking for and filing applications for scholarships, he will likely find at least one scholarship. It takes persistence and follow through to be awarded a scholarship.
It doesn't hurt at all to have high grades and a documented ability to perform academically at a high level. Again, this takes long-term persistence, sticking with your studies and earning good grades.
If your child intends to go to college, you need to make sure you have all of your tax information ready to use when you fill out the FAFSA. The form contains several questions about your tax information and it has to be accurate.
The Department of Education expects students' families to contribute to the cost of their child's education. Have some money put aside for that purpose.
Finding at least one scholarship which will help you or your child pay for the costs of higher education and will reduce the hit to your wallet and lifestyle. By researching scholarships and financial aid, either through your child's high school counselor or online, you can find several excellent resources. One such resource is the College Board Scholarship Search. You can access this link through the college scholarships website, found in Resources below.