Four Steps to Financial Aid
Did you know a college education is one of the most important investments you can make? Once you graduate, it enables you to jump-start your career and increase your earnings potential. College can be expensive, but there are many sources of student financial aid to help.
Financial aid is monetary assistance that is available to students and their families to help pay the costs associated with attending a post-secondary institution. It is money to help offset the cost difference between what the student and family can contribute toward the education and the total cost of attendance at the school.
Generally, there are four types of financial aid available.
GrantsFederal, state, or institutional gift assistance with no obligation to repay the funds |
LoansMonetary assistance that must be repaid |
ScholarshipsGift assistance with no obligation to work or repay the funds |
Work StudyPart-time work while attending school |
Most often, financial aid will come to you in the form of a package consisting of a combination of the different types of aid available. The combination of aid offered depends on the availability of funds, your eligibility, the timeliness with which you apply, and your grade level.
Take some time to read through the next few pages. WisconsinMentor will teach you the basics of financial aid and help you get started!
Step 1: Financial Aid 101-An Overview
Step 2: Estimating Your Financial Aid Eligibility
Step 3: Filing a Free Application for Federal Student Aid (FAFSA) Form
Step 4: Understanding the Financial Aid Award Package