Paying for College

The online application needed to apply for financial aid and for students to receive institutional academic/merit-based scholarships can only be completed at https://fafsa.ed.gov/. The FAFSA will be available starting October 2016 for students who plan to enter college during the 2017-18 school year.

In addition to the FAFSA, some schools require that students complete a CSS Financial Aid Profile for the student’s financial aid package to be determined. This is often due much earlier than the current state submission deadline for Michigan (March 1), so students will want to make sure they are aware of all financial aid deadlines for the colleges they are considering. Information and the CSS application are available at https://student.collegeboard.org/css-financial-aid-profile.  

Funding Your Education - A newsletter depicting the various types of federal student aid and who is eligible to receive this aid. Additionally, this easy-to-read newsletter includes guidance on filing the FAFSA as well as what to do after it has been submitted. A detailed chart with a breakdown of the specific scholarships, grants, and loans that are available is found within the newsletter.

Federal Student Aid - Answers to important financial aid questions can be found here including: “How Do I Prepare for College?”, “What Types of Aid Can I Get?”, “Do I Qualify for Aid?”, “How Do I Apply for Aid?”, and “How Do I Manage My Loans?”

Parent Guide to Financial Aid - This site sponsored by the National Association for College Admission Counseling covers the “must know” information for parents regarding the financial aid process. This is a great site for parents of first generation college students and those who need a refresher on the basics of financial aid.

Avoid FA Scams - Helpful tips to avoid being a victim of fraud, paying for scholarships, and threats to your identity.

How America Pays for College - Sallie Mae conducted a 2015 national study to determine how American families are paying for college. This site includes infographics depicting results of the study, which can help parents gain an idea of the expectations for college payment in society today.

How America Pays for College (Full Report) - Visit this link to read the full report

How America Pays for College (Infographic) - Report summary at a glance

Affording College Tools - College Access and Success provides links to the Financial Aid Toolkit as well as college scorecards to compare college costs. Information and links to net price calculators are also easily viewable. Further information related to interpreting financial aid award letters and determining loan repayment rates is also available on this site.

College Planning Toolbox-Sallie Mae has created another resource to help students and parents develop a plan for paying for post-secondary education plans. Students can use this site to help with scholarship searches, budgeting and college cost calculating, and learn about the College Ahead Mobile App.

College Scorecard - Tool to help you compare and contrast colleges and universities across the country based on multiple factors such as location, degree, and size.

College Results - College Results Online (CRO) tool that provides graduation rates for almost every college in the country.

Comparing College Costs - Tool provided by the Consumer Financial Protection Bureau to help compare college costs and financial aid offers from various colleges and universities.

Net Price Calculator - Tool provided by the College Board to provide students with an accurate indicator of the actual cost of attendance at post-secondary institutions, so students have this information prior to receiving their financial aid award letter.

Budget Sheet - The Student Scholarship and Grant (SSG) Committee created a budget worksheet that allows for students to gather a detailed account of college costs and develop an idea of the financial aid that they may be eligible to receive.

Financial Aid Shopping Sheet - A template of the financial aid shopping sheet that participating colleges and universities will send to students exhibiting the financial aid package granted to the student. This provides the student with a chance to become familiar with the format, so that the student has a clear understanding of the cost breakdown when the actual form sent form the college is received.

5-Video Financial Aid Journey - Wells Fargo has developed a series of five videos mapping out the financial aid process.

Fast Web - Provides access to thousands of college scholarships with additional tools to help students in college and career planning.

Tuition Funding - Information about scholarship searches, state-specific financial aid information, and navigation for students to better understand loans.

Affording College in Michigan - The Michigan SSG Committee (a department of the Michigan Department of Treasury) created an informational brochure detailing the college process from application to payment. Information specifically pertinent to Michigan students is included and students are strongly encouraged to read through this brochure prior to 12^th grade.

SSG Programs at a Glance - A list and chart of the types of aid (scholarships and grants) available throughout the state of Michigan.