So, you’re ready to begin the college journey. You’ve worked hard to get the necessary grades, you have a good idea of what career you want to pursue and you’ve even been accepted by a few good colleges that you can imagine calling home for the next few years.

But now comes the daunting part: figuring out how you’re going to pay for that education. For those that aren’t familiar with the many funding opportunities available for college students, the cost of college may seem to make the dream of higher education feel just out of reach. However, help is out there.

Financial Aid

In recent years, student financial aid has become a supplemental help for some and an absolute necessity for others. Wherever you fall on this spectrum, it’s important to remember that financing your education doesn’t have to be a painful process. While there are certain directives you’ll need to follow, thanks to the existence of state and federal financial aid programs, nearly everyone can afford college.

There are three types of financial aid: grants, loans and work study. Grants are essentially free as there is no need to pay them back and eligibility is based on financial need. Loans, whether private or federally funded, must be paid back with interest. Work-study funds are available for qualifying students willing to work at the college or university they attend.

In order to start the financial aid process, you will need to fill out a Free Application for Student Aid (FAFSA) at www.fafsa.gov. You’ll also need to obtain an FSA ID. The Federal Student ID consists of a username and password and is a necessary step to accessing certain U.S. Department of Education websites.

You’ll find help with the application process in the Financial Aid office of your intended college. Financial aid advisors are well-trained and knowledgeable about the ins and outs of getting financial aid. Once your FAFSA is submitted, it will come back to your selected financial aid office(s) and they can then determine how much money is available to you for grants, loans and work study.

Scholarships

Scholarships are funds provided to individual students by various organizations. The application process and requirements vary based on the organization awarding the scholarship.

Of the many types of scholarships available, some are based on need, others on scholastic performance or the career or degree you are seeking. Scholarships are generally not paid back unless you are not able to fulfill the terms of the scholarship in some other way. The South Central College’s Foundation awards over $350,000 worth of scholarships annually, which means that if you apply for a scholarship, you have a good chance of being awarded one.

In the end, even though the process requires a little work on your part, don’t let it intimidate you or keep you from making the dream of a college education
a reality.