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"Can I afford the college of my choice?"
Most financial aid is based on the financial "need" of each individual student. Financial "need" is the difference between the cost of education and a student's/family's ability to contribute toward meeting that cost. Because the expected family contribution is based on a national financial aid formula, the amount of that contribution will be similar at each college and university to which you apply. Consequently, the amount of financial aid you may be eligible for will vary from college to college, based primarily on the total cost of education at each institution. Keep in my, however, the college may not meet 100% of your "need." The amount of financial aid you receive is contingent upon the college's awarding practices and the availability of funds.
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"What are some sources of financial aid?"
Students receive financial aid from a remarkable array of sources. You may apply for assistance from the federal and state governments, civic or church groups, your employer, your parent's employer or union, professional organizations, and the colleges and universities themselves.
Click on Financial Aid Programs to learn about the major state and federal aid programs available to Connecticut students. This information is as up-to-date as possible, but programs are subject to change. You can also check on the latest program information and learn more about financial aid from a college or university financial aid officer or from your high school guidance counselor.
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"Who should apply for financial aid?"
Everyone should apply for financial aid. Even if you think you are not eligible for financial aid - APPLY! The majority of Connecticut students attending independent colleges and universities receive financial aid. When you are considering the out of pocket cost of attending different institutions, you should include not only tuition, but fees, room and board, transportation, books, and personal expenses-minus any financial aid for which you may be eligible. In order to make these comparisons, you need to apply for financial aid as soon as possible.
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"When and how do I apply for financial aid?"
The beginning of your senior year in high school is the best time to start inquiring about financial aid. Your best sources of information are the financial aid officers at the colleges and universities you wish to attend. As you request admissions information from the institutions, also ask for a financial aid application and any related information. Apply even if you think you will not qualify!
All colleges and universities will require you to submit the Free Application for Federal Student Aid (FAFSA) if you plan to apply for financial aid based on "need." This form is usually submitted after January 1 of your senior year of high school.
Some colleges will ask you to submit an additional financial aid application (like the PROFILE form) that may include a statement of your family's financial resources. Check with the college about required forms and deadlines.
Once you are accepted to colleges, you will find that aid award packages will vary, yet each will provide information regarding how much federal, institutional and state aid for which you are eligible. Take the time to compare the packages and follow up with the individual financial aid offices if you have any questions. Once you select the right college for you, don't forget to follow through on your financial aid. Be sure to accept your award package and submit any necessary applications or paperwork.
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