Financial Aid and Scholarships
WBHS Financial Aid Resource Document
FINANCIAL AID
Don’t Rule Out Colleges with Higher Price Tags
Suppose that your Student Aid Index is $5,000 a year. At a college that costs $15,000 annually, you could be eligible for up to $10,000 in financial aid. This could be a scholarship, grant, or a loan. At a college that costs $25,000 annually, you could be eligible for up to $20,000 in aid. In other words, your family would be expected to contribute the same amount at both colleges. Please note that not all colleges will meet your “need” and you could be expected to take out loans. Look at the net price calculators for each college which is found on the college website. This will help you estimate affordability. Spend some time researching this feature – it will make all the difference in selecting the most affordable colleges!
FAFSA Forecaster
If you would like to estimate your Expected Family Contribution, visit the FAFSA Forecaster at www.fafsa.gov. Most colleges also have comprehensive financial aid tools with scholarships and aid information.
Most financial aid is offered when financial need is proven. When you fill out the college applications, be sure to indicate you are applying for financial aid. Some apps have a separate form to fill out; others just have a box to check.
Begin to inquire at banks and loan institutions NOW. With many banks, your parents have to have had an account with them for at least one year before being considered for a college loan. (Not all loans are personal loans from banks. The best loans typically come from the federal government and require filling out the FAFSA.)
The best place for information is the source. Go to the specific college admission website for any school you are investigating. Colleges are used to thousands of information requests each year and are happy to help clarify your questions.
WBHS Tip: Use the net price calculator on each school’s website to determine your potential aid. This will help you determine the affordability of the college before you apply.
SCHOLARSHIPS
SCHOLARSHIP PRESENTATION
Scholarships 101 Presentation (with links)
Sample Scholarship Spreadsheet