What is Financial Aid
- Financial aid is money to help pay for college or career school.
Types of Financial Aid
- Grants (Links to an external site.) - Money that does not have to be repaid. Can come from a variety of sources such as the college, state or federal government.
- Work-Study (Links to an external site.) - Program that allows you to pay for school while working part-time.
- Loans (Links to an external site.) - Money borrowed to pay for college that must be repaid.
- Scholarships (Links to an external site.) - Colleges and many nonprofit and private organizations offer scholarships to help students pay for college or career school. Scholarships may be based on academic merit, talent or program of student. Also see PRHS scholarship list.
When to Apply - www.fafsa.gov
- Seniors can apply for financial aid beginning on October 1st for the next school year. The application used is the FAFSA-Free Application for Federal Student Aid. It is available online at www.fafsa.ed.gov (Links to an external site.). Students are encouraged to apply as soon as possible after October 1st. Make sure you check with the colleges you are applying to for their deadlines. You may print a pre-application worksheet for Web filers from the website.
- You and your parent/guardian can also prepare by applying for a US Department of Education FSA ID at www.fsaid.ed.gov (Links to an external site.). Your FSA ID enables both you and your parent/guardian to sign your FAFSA electronically. There is also information about federal student aid on this site. If you prefer to file a paper copy, you can download a form from the website or request a paper copy by calling 1-800-433-3242. This is a free application, be sure to go through the official website. Watch for websites wanting to charge you!
- Certain Colleges require the PROFILE to be filed along with the FAFSA. The North Carolina schools that require it are Davidson College, Duke University, Elon University, Lenior-Rhyne University, NC A&T State University, UNC-Chapel Hill, and Wake Forest University. There are also specific scholarships that require the PROFILE. Registrations for PROFILE are accepted beginning October 1st. Application can be found at www.collegeboard.org (Links to an external site.). You cannot actually file the PROFILE until after October 1 of the senior year.
Financial Aid Websites:
- www.fsaid.ed.gov (Links to an external site.) - The FSA ID is the first step to completing the FAFSA. Your FSA ID enables both you and your parent/guardian to sign your FAFSA electronically. Can be done before October 1st.
- www.fafsa.ed.gov (Links to an external site.) - FREE Application for Federal Student Aid - Seniors can apply beginning October 1st
- www.cfnc.org (Links to an external site.)
- www.studentaid.ed.gov (Links to an external site.)
- www.federalstudentaid.ed.gov (Links to an external site.)
- FAFSA4caster (Links to an external site.)- gives parents an estimate of financial aid before filling out the actual FAFSA form
- www.bestcolleges.com/financial-aid/ (Links to an external site.)
Mapping Your Future
1) North Carolina State Grants: Link: https://youtu.be/xXlMlpam21c (Links to an external site.)
2) Making Changes on the FAFSA; When to contact the financial aid office: Link: https://youtu.be/u53SbiHMkuo (Links to an external site.)
3) What to do when there is a change/loss of income: Link: https://youtu.be/6ZjJ7-sVDvw (Links to an external site.)
4) Verification: What to do if my FAFSA is chosen: Link:https://youtu.be/1gNpa-Rs4HM (Links to an external site.)
5) Student Aid Report – How to Use it: Link: https://youtu.be/Op5nKUVYTPI