How to Get Money For College

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Federal Student Aid Programs

Definition: Government financial assistance for students, covering tuition and other expenses.
Details: Grants, loans and campusbased aid.

Grants

Definition: Dollars disbursed based on a student's financial need. Begin the process of applying for grants by completing the Free Application for Federal Student Aid at fafsa.ed.gov.
Details: Federal Pell Grants are need-based awards from the U.S. Department of Education. Unlike loans, they do not have to be repaid.

Loans

Definition: Money borrowed from a bank, school or other institution, which must be repaid with interest.
Details: Federal Direct Loans are low-interest loans from the U. S. government.

Campus-Based Aid

Definition: Financial assistance offered by the federal government in conjunction with a college or university. Schools are responsible for administering aid on behalf of the federal program.
Details: Work-study programs, administered by colleges and universities, provide student-athletes with a number of hours of paid work during the academic year. In addition to providing much needed funds, they offer valuable work experience.

Scholarships

Definition: Financial aid awards based on criteria established by the scholarships' administrators. Common criteria include financial need, academic excellence, civic service and athletic ability. Division III institutions do not award athletic scholarships.
Details: Academic scholarship based on grades or athletic scholarships based on athletic performance. Most sports are equivalency sports, except for basketball and football. Equivalency sport athletes—like tennis players, trackletes and gymnasts—normally receive partial scholarships.

ROTC

Definition: Reserve Officers' Training Corps programs offer merit-based scholarships and military-based coursework. Many ROTC scholarships cover tuition costs in exchange for a commitment to enter military service after graduation.
Details: The Army, Navy, Air Force and Marine Corps all offer ROTC.


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