Feb 26, 2015
Financial Aid
Navigating Financial Aid
This financial aid infographic has step-by-step instructions to help you navigate the financial aid process.
The award letter details how much support the school can provide to help you pay for college.
For the schools you have been accepted to, you'll start receiving award letters as early as February, and you should have all of them by April. A letter may include grants, scholarships and work-study programs, along with eligibility for federal student loans.
Award letter templates can vary, so make sure you carefully review each letter as you compare financial aid packages from different schools.
To determine which financial aid package best meets your needs, you may want to create a document that compares the financial aid from each school, including:
- Cost of attendance
- Grants and scholarships
- Work-study programs
- Federal student loans
- Expected Family Contribution (EFC)
- Amount needed to cover the total cost of attendance
Did you know?
Some schools will ask you to accept or reject each source of financial aid you are eligible to receive. If you reject a certain source of aid in your award letter, that does not mean another source of aid will increase.
More to Explore
Previous Slide
Financial Aid
Financial Aid
College Costs
College Costs
College Loans
College Costs
College Loans
College Loans
Next Slide
Financial Aid
Financial Aid
The Student Aid Report
You will receive your Student Aid Report after you submit your FAFSA. Learn about the SAR and how it is used to determine financial aid.
College Costs
Does it Pay to Stay in State?
It is a common belief that out-of-state tuition can be more expensive than in-state tuition. Check out which states offer affordable costs to attend state schools.
College Costs
Average Cost of College Tuition
Learn about the average cost of a college education and how choice might affect the average annual costs.
College Loans
My Biggest Student Loan Regrets
It's important to understand the ins and outs of student loans before applying. Discover Student Loans provides advice for avoiding common student loan regrets.
College Costs
How to Graduate College with (Almost) No Debt
It may be tempting to borrow for college, but there are ways to avoid it. Discover Student Loans offers first-person accounts on graduating college without debt - or very little.
College Loans
How Rising Interest Rates Affect Your Student Loans
Wondering how rising interest rates may affect your student loan rate? Find out how the Federal Reserve movements could affect the interest rate of your student loan.
College Loans
What You Need to Know About Student Loan Refunds
Did you get a student loan refund? Before rushing out to spend it all, find out the best way to use your student loan refund to avoid costly mistakes.