Financial Aid & Scholarships
Types of Financial Aid
You can continue your education after high school even if you and your parents can't meet the total educational costs whether it is college, university, vocational or technical institute. Money is available on a first come first serve basis to those who apply and qualify. Always check with the financial aid office of the institution. Financial aid requires that you fill out various kinds of paperwork (again this will vary from institution to institution.)
Merit Scholarships
Merit Scholarships are frankly the type of money that we all look for when going to college because it does not require repayment. Merit Scholarships typically require no additional application other than the general admissions application. These awards are based on your academic “merit” or your achievement in high school. This is where all your hard work can potentially pay off! To find out more about amounts of merit awarded you should check with the admissions website for a particular institution.
**Something else to note about Merit Scholarships are typically students who apply early decision or early action will be notified of any merit awards at the time of their decision release.
Awards/Grants
These are awarded for specific reasons (minority, contest award), based on need or merit, and do not have to be repaid. Many grants are government awarded and require the filing of the FAFSA application. (Pell Grant, SEOG Grant)
Work Study
This is an arrangement where the student combines employment and college study. The employment may be an integral part of the academic program (internships or cooperative education) or simply as a means of paying for college. The Federal work-study program requires filing of the FAFSA.
Educational Loans
Educational loans can be from various sources: Banks, foundations, unions, etc. These loans usually have a low rate of interest and must be repaid, usually after you have completed your education. REMEMBER: Borrowing for educational expenses may be a necessity, but it may be the best investment you will ever make!
Institutional Aid (CSS PROFILE)
Most private institutions will also require the CSS profile along with the FAFSA. This may qualify you additionally for institutional aid (money from the college/university directly). Typically this does not require repayment.
Points of Contact for Financial Aid
College/University Financial Aid Officer (FAO)
The FAO controls about ninety percent of all student financial aid available. Financial aid includes need-based and merit awards. Please contact the Financial Aid Office of the school you wish to attend EARLY (Some schools have scholarship deadlines in December, even before you are accepted). Check out the financial aid website or college catalog of your school and learn what they offer.
Departmental Scholarships
Various departments at a college (Art, Engineering, History, etc.) may offer scholarships to students enrolled in specific majors. Check with the college if you have a special talent such as music, art, drama, athletics, math, science and other talent areas. Sports would be included here.
Special Programs/Grants
Some colleges have special programs or awards for specific groups of students, such as special assistance programs for minority students, church related awards for members of their faith, or dependent of a clergyman, etc.
Local Community Scholarships
John and Abigail Adams Scholarship
The John and Abigail Adams Scholarships are awarded to students by the Commonwealth of Massachusetts based on their MCAS scores. The Department of Education notifies the students who win the scholarships directly. The scholarships entitle the winners to attend any Massachusetts state college or university tuition free for four years. The scholarships do not cover books or other fees.
Business Firms/Unions/EX-Military
Various businesses or unions, especially large companies have scholarships, grants, or awards for dependents of their employees, or in some cases, for anybody. Discuss with your parents about possible scholarship opportunities through their employers, or clubs to which they belong.
Foundations
Check with your local foundations. Many offer grants, scholarships and/or loans.
IB Credit
Many colleges/universities recognize IB credit. Traditionally scores of a 5 or higher on a higher level exams will qualify you for college credit. Be sure to check with your schools for clarity. This can allow you to enter college with credits under your belt and ultimately save you some time and money.
The College Resource Center, Scholarship Directories, and the Internet
There are resources for searching for scholarships in the College Resource Center. We post scholarships as they come in to KHS on bulletin boards, one outside the Counselors' offices, and one in the College Resource Center. We have directories to do a paper search, computers to research on-line, and many volunteers to help direct you. Refer to our Internet Resources page for some Scholarship Search sites.
Understanding FAFSA
FAFSA is a form completed by all applicants for federal student aid. Some colleges also employ this form for their financial aid programs. Forms are available in high schools, the public library, financial aid offices in colleges, and online. They may be filed any time after January 1 of the year for which one is seeking aid (e.g. after January 1, 2005, for the academic year 2005-2006, your freshman year). FAFSA Student Guides are available in the College Resource Center. New paper application forms usually arrive in late November, but the current online form is not available until January 1. The following is from the FAFSA web site.
Why Fill Out a FAFSA?
To apply for federal student financial aid, and to apply for many state student aid programs, students must complete a Free Application for Federal Student Aid (FAFSA). The information you provide on your FAFSA determines if you are eligible for financial aid.
What are the benefits of using FAFSA on the Web?
FAFSA on the Web is faster than applying for aid by paper.
FAFSA on the Web uses skip logic based on your particular information, so you will need to answer fewer questions than on the paper application.
FAFSA on the Web checks your answers before you submit your application, so there is less chance your application will be rejected because of missing or conflicting information.
You can save application information so that it can be completed and transmitted at a later time.
FAFSA on the Web can be used on Windows or Macintosh computers, using the most popular Netscape and Microsoft browser versions.
FAFSA on the Web doesn't require software to be installed, so it takes less time before you can actually use the application.
You can access FAFSA on the Web from anywhere, including school or home, making it more convenient to complete the application.
FAFSA on the Web can support an unlimited number of users, allowing thousands of students to apply at once.
The FAFSA is used for the following federal programs.
Federal Pell Grants
Federal Stafford Loans
Federal PLUS Loans
Campus-Based Programs
Federal Supplemental Educational Opportunity Grants
Federal Work Study
Perkins Loans
Federal Student Aid PIN Registration site
http://http://www.pin.ed.gov/PINWebApp/pinindex.jsp . Getting your PIN early before Christmas will hasten the application and determination process with the FAFSA. Corrections and updates are much easier too.
FAFSA
http://www.fafsa.ed.gov Has online forms and filing with information about FAFSA
Students Gateway to the Government
The Student Guide
Funding Education Beyond High School: The Guide to Federal Student Aid - A comprehensive resource on student financial aid from the U.S. Department of Education, covering the three major forms of aid: grants, loans, and work-study. This document is also available in Spanish..