Financial Aid and Scholarships - Making College Affordable
- Puneet Jain
- Jun 22
- 1 min read
Most families pay less than the sticker price. Many costly private schools end up being more affordable than state schools after financial aid is considered.
Types of Financial Aid
Free Money (Keep Forever):
Federal Pell Grants (up to $7,000+/year)
State grants
College grants and scholarships
Merit scholarships
Earn While Learning:
Work-study campus jobs
Money to Repay:
Federal loans (better terms)
Private loans (higher interest)
FAFSA: Your Financial Aid Gateway
Available October 1st each year
File early - some aid is first-come, first-served
Required for federal aid and most scholarships
Always free to complete
What You Need:
Tax returns (yours and parents')
Bank statements
Social Security numbers
CSS Profile
Required by many private colleges for additional institutional aid. It costs money, but it often leads to more generous financial aid packages.
Scholarship Strategy
School-Based Scholarships:
Automatic (based on GPA/test scores) and competitive applications
Department-specific awards
External Scholarships:
Local businesses and organizations
Professional associations
Corporate scholarships
Community foundations
Where to Search:
School counselor
College websites
Local community groups
By Family Income
Lower Income (Under $50K): May qualify for full aid at top colleges
Middle Income ($50K–$150K): Significant aid is possible, seek merit scholarships
Higher Income (Over $150K): Focus on merit aid, target schools where you're in the top 25%
Avoid Scams
Never pay to apply for scholarships, fill out FAFSA, or obtain "guaranteed" aid.
College is more affordable than it seems. File FAFSA early, apply for scholarships consistently, and don't let sticker prices deter you.
Comments