How to find last-minute financial aid for college
Education Data Initiative: Typical cost of state college while living on campus is $27,146 per year
(InvestigateTV) — Forbes Advisor predicted almost 19 million students will head to college this fall, 72% of whom will use financial aid to pay for their education.
For those starting college soon that still need help with expenses, Robert Farrington with The College Investor said there are a few things they can do.
First and foremost, log into the Free Application for Federal Student Aid (FAFSA) and fill it out right away.
“It looks like about 10% of families have not filled out the FAFSA as compared to last year,” Farrington said. “We are seeing a decline in families filling it out, which means people are getting less financial aid. If you’re worried about getting financial aid double check and make sure you filled out the FAFSA.”
He said the FAFSA unlocks federal scholarships and grants, like a Pell grant or any state grants home states might offer. It also unlocks student loans, in case there is a need to borrow.
“The other thing you can do to get last-minute financial aid is to look at these scholarship sites. There are still scholarships available,” Farrington said. “There are scholarships available year-round, and I think a lot of people dismiss it, but billions of dollars are given out in scholarships every year and you can still find them and apply right now.
He suggested trying sites like Scholly or Scholarships360 to look for those scholarships.
Students can also sign up for work study or get a part time job.
They can also try to earn money right now, because anything they can put in their pocket will help offset the cost of college or even the incidental expenses, like books and fees that aren’t necessarily part of that main bill.
Farrington emphasized there is a lot of free money still being left on the table as a result of people not filling out the FAFSA.
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