Key Financial Aid Vocabulary
FAFSA (Federal Application Form for Student Aid) A must first-step in the financial aid process. Students may begin the application after parents complete their tax forms no earlier than January. Applications are available in the guidance office or apply online for the free federal financial aid from required for federal based loans and other monies at post secondary schools. Students may begin applying for the FAFSA anytime after January 1.
College Board Online Scholarship Search A scholarship search from Collegeboard.
Fastweb This is the Internet's largest free scholarship service.
Funding Your Education This site contains publication, Funding Your Education, which is an introduction to Student Financial Assistance Programs and it explains how to apply for aid.
Guide to Studying in the USA A guide to studying in an American College for international students.
International Education Finance Corporation Student loans for study abroad.
Mapping-Your-Future A one-stop-shop for comprehensive information about college, financial aid, career, and financial literacy information.
The Student Guide The student guide is the most comprehensive resource on student financial from the U.S. Department of Education-Pell Grants, Stafford Loans, and PLUS loans and much more.
College Goal is a FREE nationwide event that assists thousands of high school seniors and their families complete the Free Application for Federal Student Aid (FAFSA), the essential first step to receiving financial aid and going to college. Visit www.collegegoalwi.org for more information.
Materials to Bring:
- Correct Social Security numbers (can be found on Social Security card)
- Driver's license (if any)
- Alien Registration Card or Permanent Resident Card
- Most recent tax returns and W2s or income estimates
- Most recent untaxed income records (Child Support)
- Information on savings, investments, business assets & farm assets
- Date of birth for parents, and month & year of parents' marriage, divorce or separation
Financial Aid Basics:
- To assist a student in paying for higher education
- To provide greater access and opportunity for higher education
- To help narrow the gap between what the family can pay and the cost of education
Three Primary Sources of Aid:
- US Department of Education - The federal agency that provides funding in the form of grants, work-study and loans
- State-Administered state scholarships and grants, college savings and prepaid tuition program. Higher Education Aids Board (HEAB) manages aid for Wisconsin.
- Colleges & Universities - may offer their own scholarships, grants and loan programs with each having its own requirements. Availability varies WIDELY between schools.
- Pell Grant
- Supplemental Educational Opportunity Grant (SEOG)
- TEACH Grant
- WI Higher Education Grant (WHEG)
- WI Tuition Grant
- Schools/Colleges - academic, athletic or other talent
- Civic Organizations-churches, PTA, Elks, Kiwanis, cultural leagues, etc.
- Private businesses
- Parent affiliations - Employers, labor unions, etc.
- Online scholarship searches
- Typically repaid with interest
- Federal Perkins Loan
- William D. Ford Federal Direct Loan Program (also called Stafford Loans, subsidized options, eligibility based on financial need)
- Federal PLUS Loan (for parents)
- State Loans
- Institutional Loans
- Private/Alternative Loans