Student Aid Checklist
use this quick checklist
to assemble the tasks you need to maximize all of the financial aid you can get to pay for college.
(you can download this checklist in PDF format)
Aid Checklist:
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First Thing, Complete Your Off-to-College Tasks If you are going to college, make sure you complete and submit the required documents. Deadlines include essay and application submissions, college visits,
housing selection, and gathering those things for the move.
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How Much Is It Going to Cost Depends on where you are going. Costs include tuition, housing, books, transportation and more:
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Where is the Money Coming From $135 Billion dollars were disbursed last year (2008) in financial aid for students. The largest percentage was federal loans.
These are just some of the sources of financial aid. Other aid for college includes:
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What is EFC EFC is the Expected Family Contribution for higher education. In other words, financial aid is awarded based on a formula that calculates the total cost of attending school and the expected family contribution to that cost. we have more information about EFC
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Do You Qualify for Financial Aid Before you start the financial aid process, you must qualify as either a dependant or independent student. Review qualifications:
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Understand the Financial Aid Process First comes the FAFSA form, then the SAR, and then the Financial Aid letter from your school. Link to our Financial Aid Step to view the process:
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FAFSA Submission Almost all financial aid begins with your filing the Free Application
for Federal Student Aid (FAFSA). What you will need to file:
visit Aid Step 2 for FAFSA Information and Links
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Understand the Types and Sources of Student Financial Student Aid Financial aid programs include grants, scholarships, loans, state programs, and other special aid. We have complete information on types and sources:
financial aid chart: for
undergraduates
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Check with Your Financial Aid Office Your school's financial aid office is the control center for student financial aid. Talk with your college's financial aid office to see how they can help. Be prepared to ask questions such as:
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Start Searching for Scholarship Money Scholarship awards can go fast, so start early — usually in
the Fall prior to the start of your college year.
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Learn About Student Stafford Loans Student loans are the most widely used form of financial aid. These loans are backed by the Federal Government to guarantee low-interest rate loans. View complete information:
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Graduates Can Use the PLUS Loan Graduates and professional students now qualify under the PLUS loan program to borrow up to the full cost of education. Deferment plans are available. We have information about the GradPLUS loan:
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Private Loans and Other Alternative Financing Most financial aid awards do not cover the full cost of education. Many students are turning to private education loans and other alternative financing to finance their education. These loans are not subject to Federal Government review and processing. You can get your money in as little as 5 business days from receipt of your completed application. See what Private Loans are available:
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See How Parents Can Help Parents of undergraduate students can assist with their child's education by applying for the Federal PLUS loans. We have information about PLUS loans:
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The Banker Home Equity Line of Credit (BLOC) Parents or students with steady working income can use the BLOC to manage their money and fund education expenses. The program benefits those with positive discretionary income that helps to keep funding costs low. View product demo: introduction page and slide demo
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Finding the Right Lender When its time to submit your application for Federal and Private Education financing, our lending partners can process your application quickly for Stafford, PLUS, and Private Education Loans. Apply for Financial Aid: click here
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Managing Your Money Money will be tight during school. You want to control spending and avoid unnecessary debt. View our recommendation on how to manage student funds while attending college. Money management tips: click here
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Building Your Credit Starting school brings on many new responsibilities like building a strong credit report and managing your credit payments. This will benefit you in the future for:
We have complete credit and debt management tips including budgeting
monthly expenses:
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Saving for College Though it might be too late for the upcoming student, it is not too late for the other children in your family — or even yourself if your plans have yourself returning to school. There are some interest savings strategies that can benefit you. For detailed information:
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Consolidating Student Loans Don't forget that when you graduate from school, you can consolidate your federal loans into one single billing at repayment terms that fit your budget. For detailed information:
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