My College Corner Blog
Skip to content

Blog

Blog



That sounds odd, doesn’t it, “to win the financial aid game.”  You don’t have to stretch very far to see that the financial aid process has characteristics of a game: there is a rulebook, a referee (the U.S. Department of Education), a defined time period and rewards at the end for the winners.  Unfortunately, as we’ve recently learned, there are cheaters too.


On October 1, the Free Application for Federal Student Aid (“FAFSA”) will be available. High school seniors and college students continuing into Academic Year 2020-21 will need to file a new form to be eligible for aid in the 2020-21 Academic Year. FASFA allows students to participate in federal student aid programs, including the Direct Student Loan Program, the Pell Grant Program, Work-Study, and other federal aid programs. Without filing, students will not be eligible for these programs. 





Paying for college can be one of the most stressful parts of the college experience.  It’s essential to know all of the options to chip away at a big bill.  Financial Aid Award letters include grants and scholarships (free money with few strings attached), loans (need to be repaid) and earned-aid (usually work-study) – a guaranteed part-time job.  Part-time jobs, either under the work-study program or not, offer valuable opportunities for students to earn money, reduce debt, and gain valuable experience.



Credit is the ability to use debt to purchase goods or services based on the trust that the individual can repay the debt. Lenders such as credit unions and banks evaluate borrowers credit to make student loans, home mortgages and credit cards.