Planning Your Future
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Applying for Financial Aid (Español)

Wondering how to pay for college? Here we have a link to the federal government's financial aid website in English and Spanish, a few articles from COMPASS Guide and a quick overview of filing the Free Application for Federal Student Aid (FAFSA).

Articles about Financial Aid and Scholarships:

• How will you pay for college?
• Five steps for scholarship success
• Answers to your scholarship questions
• FAFSA Q & A

Start here for an overview of financial aid: http://studentaid.ed.gov

1. Apply for admission as well as financial aid - During your senior year, you'll want to apply to colleges early - in the fall - for the next school year. At the same time, begin figuring out your financial aid situation. Since application deadlines vary, you may want to develop a calendar of important dates. It's a good idea to apply early. A college cannot offer financial aid unless the student has applied for admission and has been accepted. See the "COLLEGE TIMELINE FOR HIGH SCHOOL SENIORS" for more information.




2. Submit required financial aid forms - This may be one of the most difficult steps but if you don't apply, you don't have a chance of getting any money! So make sure you file all required forms for financial aid at the college(s) you are considering. This includes the Free Application for Federal Student Aid (FAFSA). Note: Students should file only one FAFSA regardless of how many colleges they are considering. The FAFSA includes a section for the student to list the colleges to which they want their information sent.

   The FAFSA application can be completed on line via the website: www.fafsa.ed.gov . It will take approximately 2 weeks to process and then send to all schools listed on your application. The FAFSA paper application can be obtained from your guidance counselor, however it will take approximately 4 - 6 weeks to send to all schools listed on your application. If you have questions about completing the application, call the Federal Student Aid information center (800-433-3243). During your senior year, complete the FAFSA as soon after January 1st as possible.

   The FAFSA collects financial and other information from students and parents to determine an Expected Family contribution (EFC). The EFC figure is used to determine a student's eligibility for Federal Pell Grant, other federal financial aid programs, and many state programs. The EFC is determined according to formulas set periodically by the U.S. Congress. Students should also check with each college to determine if there are additional forms the college requires them to file. Be sure to file all forms in time to meet the colleges' financial aid application deadlines. Note: Admissions and financial aid deadlines are often different; be sure to meet each requirement.

3. Apply for scholarships and grants - Be sure to explore state scholarship, grant, and loan programs. Ask about school, community, foundation, and corporation programs as well. Use the COMPASS Guide Scholarship search to find opportunities right here in Milwaukee!



4. Keep track of progress - In other words: stay organized! You don't want to miss out on a campus tour, admission deadline or a major scholarship because you lost the information.