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Financial Aid Options
and
How to Apply for Them
Pell
Grants / Supplemental
Grants / Scholarships/ Grant
Applications
Grants and scholarships are gifts of money to pay
college costs. They need not be repaid. Federal grants are based on
financial need. Scholarships may also be based on financial need, but
often they are awarded to students with specific skills or interests.
Federal Pell Grants
Any undergraduate college student who
hasn't already received a bachelor's degree can apply for a federal Pell
Grant. Awards are based on financial need, and amounts vary annually. The
maximum grant for the 2002-2003 school year is $4,000. To apply, complete
a Free Application for Federal Student aid (FAFSA), available from from
your Idaho EOC Advisor, college financial aid offices, or online.
(We've got some tips about filling out the online FAFSA
if you've not used the online application before.)
Federal Supplemental Educational Opportunity
Grants (FSEOG)
Eligibility for these grants is the same as for Pell Grants:
any undergraduate college student who hasn't already received a bachelor's
degree can apply. Awards are based on financial need and range up to
$4,000. To apply, complete a Free Application for Federal Student aid (FAFSA),
available from any Idaho EOC office, college
financial aid offices, or online.
(We've got some tips about filling out the online FAFSA if you've not used
the online application before.) You may also have to complete additional
forms; ask your college.
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Scholarships
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Beware of Scams
In addition to grants, scholarships are the other major form of financial
aid that need not be repaid. Scholarships generally
should be considered as supplements, however. They are competitive, and
funds are limited. Apply for other forms of aid
first.
Whenever you're searching for
scholarships, beware of scholarship scams. Every year thousands of students
and their families lose millions of dollars to scholarship fraud.
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Financial
Aid Applications
You will need to fill out and submit applications for financial aid if you
want to receive grants, loans, or scholarships. Many
of these forms are now available online so you can apply electronically
rather than mail in a paper application. Check with your school or college
to make sure you fill out all necessary forms.
Your eligibility for aid is based on
the information you provide on the applications. Fill them out carefully.
We highly recommend that you print a copy of any application you complete
online. There is usually a print option at the end of the
application.
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For some tips on filling out FAFSA on the Web, click
here
Thanks to the
State of Virginia for sharing their FAFSA Tips.
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Glossary of
Financial Aid Terms
Glossary of Loan
Repayment Terms
Link to Idaho Higher Education institution
financial aid programs in Idaho
Colleges & Universities section
Link
directly to federal FAFSA form.
Fill it out even before you are accepted at a college
Tips
for filling out FAFSA form online
FAFSA
(Free Application for Federal
Student Aid)
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