Paying for College

Covering the cost of higher education is often one of biggest concerns for families starting the college search process. It is important to not get distracted by “sticker price” and utilize the tips below for navigating the financial aid process. There is money out there to cover the cost of your education- you just have to take the steps to find it and earn it.

Ways to cover the cost:

The Free Application for Federal Student Aid (FAFSA)- This is the financial aid application used by all colleges and universities to determine the amount of federal aid/scholarships to be awarded. See FAFSA Page for more information.

CSS Profile- an additional form to apply for financial assistance. Some selective colleges require both the CSS Profile and the FAFSA to determine your financial aid/scholarship eligibility.

School-based scholarships & aid- Check with the colleges and universities to which you are applying for information about scholarships they offer. Some colleges will use your admission application for scholarship consideration, but others will require a separate scholarship application. Visit the college's Financial Aid webpages or contact their Office of Financial Aid to learn more.

Local & National Scholarships- Visit the scholarships tab in Xello regularly for updated listings. There are multiple search engines on the internet for scholarships. Below are a few to get you started:

               *Never pay money for a scholarship search. Typically that is a sign of a scam.

Western Undergraduate Exchange (WUE)- Students applying to WUE schools may be eligible to receive a reduced tuition rate at two and four- year college programs outside of their home state. Learn more and see a list of participating WUE schools.

FAFSA

A common misconception for families is that they should not complete the FAFSA because they will not qualify for money. Don’t leave money on the table!

The FAFSA is used to determine if a student is eligible for federal grants, loans, and work-study. Some colleges & universities will also use the FAFSA for school-based aid packages.

Every family should file a FAFSA to ensure they are considered for the maximum financial aid package at each college.

Complete the FAFSA fall of your senior year at: studentaid.gov

Four Primary Sources of Financial Aid

Filing the FAFSA is free

We’ve made it easy to gather needed information to complete the FAFSA. The FAFSA is an important part of your journey, and it might even mean free money to cover college costs. Many scholarships require having a FAFSA completed, so you are encouraged to complete one even if you don't plan on accepting the other types of financial aid.

Before beginning your FAFSA:

  • Both the student and the parent are required to create an FSA ID. This will be used as a username and password to access the FAFSA, confirm identity and electronically sign the FAFSA. Learn more about creating your FSA ID here

  • Gather information you need for the application

    • Bank Statements and Investments:
      • Statements from all accounts (checking, savings, investments, etc.)
      • Net worth of investment farms and businesses

    •  Documents from up to 2 years prior to college start date.
      (For example, if you plan to start college in the 2023–2024 school year, use 2021
      documentation.):
      • Federal Income Tax Forms (e.g., 1040, 1040-NR, etc.)
      • W2 forms
      • Child support paid or received
      • Other benefits (workers’ compensation, military, clergy, or veteran amounts)

Note that the FAFSA can automatically transfer information from federal tax returns that you or your contributor(s) filed, through the IRS Data Retrieval Tool (IRS DRT). If you receive the option to "Link to IRS" through FAFSA, choose that for automatic transfer of information. If you can’t link to the IRS, you must manually enter the information. Regardless, keep the documents handy in case you need them to answer other financial questions.

FSA ID Form - How to create an FSA ID

Before you complete the FAFSA, you must create an FSA ID (a username and password) to gain access to Federal Student’s Aid online systems, and it will serve as your legal signature. Your FSA ID must be exclusive to you. Fill in this form as you create your FSA ID, so you have the information when you need to log in later. To create an FSA ID, go to fsaid.ed.gov.

It's important to provide and verify your email address and cell number  because those are the easiest ways to recover a password if you forget it... and that might happen.

Scholarships

What is a scholarship? 

Simply put, a scholarship is money to help pay for your education. Unlike loans, scholarships aren’t repaid, and they are awarded for many things: 

  • Academic performance (also referred to as merit)

  • Financial need

  • Athletic performance

  • Special talents and affiliations

  • And more

Most scholarships require students to submit an application. The application may require an essay, a portfolio, a letter of recommendation or nomination by a teacher or School Counselor, or additional documents / creations. Please note that some scholarships require you to obtain a certain GPA throughout college, or else you could lose the funding, or worse, pay back the funds.