FINANCIAL AID BASICS

To Assist a student in paying for higher education

To provide greater access and opportunity for higher education

To help narrow the gap between what the family can pay and the cost of education

Three Primary Sources of Aid

• US Department of Education-The federal agency that provides funding in the form of grants, work study, and loans
• State-Administer state scholarships and grants, college savings and prepaid tuition program.  Higher Educational Aids Board (HEAB) manages aid for Wisconsin
• Colleges & Universityes-May offier their own scholarships, grant, and loan rograms with each having its own requirements.  Availability varies WIDELY between schools

TYPES OF FINANCIAL AID

Grant Aid (FREE)

Federal

• Pell Grant
• Supplemental Educational Opportunity Grant (SEOG)
• TEACH Grant

State

• WI Higher Education Grant (WHEG)
• WI Tuition Grant

Scholarships (FREE)

• Schools/Colleges-academic, athletic or other talent
• Civic organizations-churches, PTA, Elks, Kiwanis, cultural leagues, etc.
• Private businesses
• Parent affiliations-Employers & labor unions
• Online scholarships searches

Loans

Typically repaid with interest

Federal Perkins Loan

William D. Ford Federal Direct Loan Program (also called Stafford Loans, subsidized options, Sub eligibility based on financial need)

Federal PLUS Loan (for parents)

State Loans

Institutional Loans

Private/Alternative Loans

Additional Government Resources

Corporation for National and Community Service

Veteran's benefits and tuition waivers

ROTC scholarships and/or stipends

Bureau of Indian Affairs (BIA) Grants

State Divisions of Vocational Rehabilitation (DVR)

Health and Human Services loan and scholarship programs

FINANCIAL AID NIGHT

The Financial Aid Night will be held on Thursday, January 15, 2009 from 6:00 p.m. - 8:00 p.m. at Sun Prairie High School in room 100.  A representative from Edgewood College will speak to seniors and their parents about the financial aid process, academic grants, scholarships and other pertinent information as it pertains to financial opportunities for post-secondary options