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Financial Aid: Keeping It Simple

by on August 1st, 2019 in Articles News

Understanding Your Options when Paying for Training

Applying for federal financial aid can be intimidating, to say the least; especially if it is your first time. We understand there can be a lot of questions you need answered and understanding how the process works can be vital to your success. We want to keep it simple and give you the tools you need to take the next step. Here are the first 6 steps to take to get you started.

1. Know about FASFA

Free Application for Federal Student Aid or FASFA is the form a college student is required to fill out in order to receive any form of federal financial aid to pay for their schooling. The FASFA deadline varies from state to state and funding works on a first-come-first-serve basis. Check with your school to find out deadlines.

2. Research Grants and Scholarships

Grants and scholarships are types of financial aid that do not need to be paid back. Grants can be offered by the federal government, your school or private foundations. On the other hand, scholarships are merit-based. This means that you must meet a set of criteria in order to be considered for the scholarship. They can be awarded by private foundations or by your school. Check with your school to see a list of available scholarships.

3. Understand Loans

Loans can be an option, but unlike grants and scholarships, they must be repaid. Students do not have to pay while attending classes, however, they are required to begin repayment six months after graduation or after they stop attending school. Most loans are also subject to accrue interest over time.

4. Learn about Tuition Reimbursement

Some companies offer tuition assistance to cover some or all of your schooling costs as it relates to extended work knowledge and education. Check with your current or potential employer to see if they have a tuition reimbursement program in place.

5. Find out if you’re Eligible

You can find out how much grant funding you are eligible to receive by utilizing the Net Price Calculator. This Net Price figure is used as an estimated calculation to provide an estimated cost of enrollment based on your Expected Family Contribution (EFC) and determine how much in Grant funds you are eligible to receive for the current award year.

6. Ask Ayers for Help

Speak with an Ayers Admissions Representative to ask about your personal financial aid options. They will be able to provide you with scholarship opportunities, due dates, payment, and financing options.

These steps will help you navigate the world of financial aid while attending school. At Ayers, we want to help you get the most out of your education. Please give us a call or contact us with any questions and we would be happy to help!

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