How Do I Qualify for Financial Aid?

Financial aid can make paying for college easier for some, and it makes a college education possible for others that may not be able to afford higher education without it. Funding for college can come in the form of grants, student loans, and scholarships, and sources of the funds include governmental aid programs, private companies, employers, and banks. Specific steps are required for a prospective student to qualify for financial aid, and often include filling out an application, meeting certain qualifications, and providing financial information.

The first step in finding aid money for college is to research the different types of help available to you. Financial aid comes from a variety of sources and can take many different forms. Grant money and scholarships are one of the most popular types of aid, because students do not have to pay back these funds. Loans are another type of financial aid, and they can come from banks, government agencies, employers, or friends and relatives.

Academic accomplishments are frequently considered when determining eligibility for grants and scholarships. Other factors that may help you qualify for financial aid that requires no repayment include ethnic background, military or employment history, and special abilities. Some states offer scholarship programs for students that maintain a certain grade point average. High school guidance counselors and college financial aid officers can offer many suggestions on where to find aid programs.

Some types of financial aid are based on economic need, and your or your family's earnings can influence whether or not you qualify for financial aid. Government aid programs typically require a certain income level, and both student and parental income may be considered. Some agencies and schools use income tax files to verify if a potential student is eligible for college grants, scholarships, loans, or other financial aid.

If you want to qualify for financial aid through government programs, you will probably have to fill out a variety of applications. Most financial aid programs have online forms, which make it simple and convenient to apply. Always be accurate when filling out applications to qualify for financial aid. Your financial information can usually be verified, so it is unwise to lie or exaggerate when applying for aid money.

There is high demand for financial aid funds, so timeliness is vital when filling out applications. Always check due dates and be sure to turn everything in before the deadline. Filing your paperwork even one day late can result in a loss of financial aid money.

Some programs use your academic records to see if you qualify for financial aid, so doing well all through school is vital. Many colleges offer full scholarship programs to students who excel academically throughout their high school career. Participating in extracurricular programs can also help you qualify for financial aid. College officials look for well-rounded, high-achieving students when they are handing out financial aid packages. Sports stars commonly get money for school, but so do newspaper editors, yearbook photographers, and straight-A students.