Often the expenses involved for a post secondary education are significant. Many students are forced to either applying for student loans or seeking public education grants to help offset the cost. Not only are tuition and other associated fees difficult for many to pay, other costs such as textbooks, transportation and housing can simply make the cost of obtaining a college education costs prohibitive.
Public education grants can help students who have a genuine need, and are willing to put forth the effort required to secure education grants. While many students would qualify for student loans a need-based grant provides funds that do not have to be repaid, unlike a traditional student loan.
One of the first steps every prospective college student needs to take is to fill out a FAFSA (Free Application for Federal Student Aid) form. This form which is processed by your school’s financial aid office will determine how much grant money you are eligible for. There is no shortcut for this step and everyone should make this a priority should they plan to pursue a secondary education. There are several factors in determining what your eligibility is and how much money you may be awarded.
Expected Family Contribution (EFC) – Essentially, it helps to determine how much money your family can afford to contribute to the cost of your education. Primarily this factor is based on the size of your family, income and savings and your family related expenses.
Cost of Attendance (COA)- this determines not only the amount of tuition and fees related to your education but includes other costs such as textbooks, transportation and materials.
Amount of time enrolled in school – this formula considers whether or not you are a full-time student or a part-time student at considers whether or not you are enrolled for an entire academic year or as is the case sometimes, less.
Paying for College education should be considered as a journey and not a short-term trip. The start of that journey should begin with properly filling out a FAFSA form to determine your eligibility. Almost everyone qualifies for some sort of financial aid or public education grants money. The process can be long, tedious and at times frustrating. Don’t be discouraged and take this very important first step toward securing the public education grants you need to complete your college education. You may also explore some of the options listed below in on this website.
