Paying For Higher Education

Higher education and job training can be expensive, especially for occupations, which promise large future earnings. Without financial aid, many students would be unable to afford pursuing an education. Fortunately, a wide variety of financial aid programs are available for all types of students. This information will help you get started in identifying possible sources of financial aid, and learn what resources available to help you apply for the various types of aid such your high school guidance counselor, the financial aid officer at the school or college you want to attend or the Schuylkill Community Education Council (SCEC).

To learn more about federal student aid programs, call 1-800-4-FED-AID and request a copy of The Student Guide. Other important phone number and web sites are: PHEAA, 1-800-692-7435 (grants),
1-800-692-7392 (loans), 1-800-338-5000 (Network Consolidation Center) or on the web at www.pheaa.org. Schuylkill Community Education Council, 1-570-866-385-5556 or on the web at www.SchuylkillEducation.org.

Students or adults who want to get education or training beyond high school to prepare for future careers should not be discouraged because they think they cannot afford it. There are many types of financial aid from the state and federal governments, schools and colleges, and private organizations.

Financial Aid Time Line

1. Choose schools and apply for admission. (August - February)
2. Learn about school scholarships and other aid; get applications and determine deadlines then apply. (August - February)
3. Research local/national scholarships; use libraries, high school guidance office, Internet then apply. (September - February)
4. Gather federal applications (and those required by schools); collect other information such as tax returns. (October - February)
   Apply for state and federal financial aid by the correct and established deadlines. (Note: state and federal deadlines may not be the same. (January - August)
   
5. Receive Student Aid Report (SAR); check for errors and correct them. Be sure the school you plan to attend is listed on the SAR. (February - August)
   Review financial aid package (s) from school (s) and send acceptance to your first choice. (February - May)
   
6. Check with school's financial aid office regarding summer work-study choices. (February - May)
7. Receive results of State Grant request and submit any corrections to PHEAA's State Grant & Special Programs office. (May - August)
8. Apply for student loans. (March - August)
9. Determine need for additional loans; apply for a PLUS loan. (March - August)
10. Receive bill for classes; check crediting of financial aid. (June - August)

Check deadline dates for the application your are using and the school you are attending.

PHEAA State Grant deadlines are:
May 1 for colleges, universities, college-transferable programs and all renewal students and August 1 for first time students at business, trade, technical and nursing schools, or a two-year terminal (non-transferable two year degree) program at a community, junior or four-year college.

Applying for Financial Aid
For most need-based program, the most important form you must complete is the Free Application of Federal Student Aid (FAFSA). You may apply by paper, FAFSA Express or the Internet. You can get the FAFSA from your high school guidance counselor, the school you plan to attend or by calling the U.S. Department of Education toll-fee at 800-4FED-AID.

If you received financial aid last year, you should receive a Renewal FAFSA, which you must file if you are applying for financial aid this year. If you do not receive a Renewal FAFSA, you will still need to reapply this year using the FAFSA.

What happens when you file the FAFSA?
The information form your FAFSA will be shared with the federal government, the school (s) you plan to attend and PHEAA. The school (s) you plan to attend will coordinate this information to ensure that you receive the most comprehensive financial aid package based on the financial need.
About a month after you apply, the federal government will send you a Student Aid Report) that will inform you and the schools to which you are applying of your Expected Family Contribution (EFC).

Financial Aid Options
Generally, four types of financial aid are available:
(1.) Scholarships; (2.) Grants; (3.) Loans; and (4.) Work Study Awards. These types of aid can be combines to produce financial aid packages." The financial aid office at the school you plan to attend will assist you by developing a package to pay for part or all of your costs depending on your financial need.

Other Financial Aid
Federal Pell Grant
Federal Campus-Based Programs
Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Perkins Loan
Federal Work-Study Program
Robert C. Byrd Scholarships
Federal Programs for People with Special Circumstances
Private Scholarships
Post Secondary Educational Gratuity Program

Source: Moving on to Higher Education Financial Aid Handbook 2001-2002 by Pennsylvania Higher Education Assistance Agency (PHEAA).