Most students who attend any type of post-secondary institution will need to research financial aid options. The following pages will describe what financial aid is and how students may apply for it. Students should also contact their post-secondary school of choice when they have questions about financial aid.
FAFSA Online allows you to receive information about the Free Application for Federal Student Aid. You can also file your FAFSA electronically through this site, or applications are available in the Counseling Office mid December.
Direct Loan Program
Financial Aid Parent Night
Date: Wednesday - December 16, 2015
Time: 6:30 PM
Financial Aid is provided for by the federal government, the State of Wisconsin, outside scholarship sources, and the college/universities themselves. Most aid is based on financial need and is designed to help meet the difference between the cost of college and the student and family's ability to pay for the education.
HUHS will be hosting a presentation for college-bound students and their parents to learn about grants, loans, student employment, and scholarships on Wednesday, December 16, at 6:30pm in the Cafeteria. A speaker from Great Lakes Higher Education will be here to discuss the process of how families finance college costs through all the available options. Senior students and parents should plan to attend!
How Does Financial Aid Work?
The purpose of financial aid is to “fill the gap” between what a family can pay toward a student’s college education and the total cost of a college education. Congress developed a formula that determines what the “estimated family contribution” is, or EFC. Your EFC measures your family’s financial strength and is used to determine your eligibility for federal student aid. Your “financial need” is the difference between your EFC and your school’s total cost to attend. Cost of attendance typically includes tuition, books, supplies, transportation, and room and board.
There are four types of financial aid: grants, work-study, student loans (subsidized and unsubsidized), and scholarships.
- Grants: “Free” money that is awarded by the government and does not have to be paid back.
- Work Study: A job through your college in which you will be paid.
- Student Loans: Loans need to be repaid after graduation. A subsidized loan is a loan for which the federal government pays the interest until you leave school. An unsubsidized loan accrues interest as soon as you take out the loan.
- Scholarships: Scholarships are merit-based monetary gifts that can be used for college and do not have to be repaid. Scholarships are awarded by various institutions, including the state and federal government, public and private organizations, and colleges and universities.
How Do I Apply?
The Free Application for Federal Student Aid (FAFSA) is a federal program that assists students in paying for their post-secondary education. Students may apply for financial aid online, or request a paper application, by completing a FAFSA at www.fafsa.ed.gov. Students may begin applying for financial aid any time after January 1st. There is no cost to complete this application. It is recommended that students apply as soon as possible after January 1st.
Assistance With The FAFSA Form
College Goal Wisconsin is a nationwide event that assists high school seniors and their families with the completion of the Free Application for Federal Student Aid (FAFSA). There are 30 locations across Wisconsin where the event is held every February. For more information, please visitwww.collegegoalwi.org.
What Happens After I File?
- You will be sent a Student Aid Report (SAR) via email if you applied electronically, or by mail if you used the paper application.
- Review your SAR and make any necessary corrections.
- Results are sent electronically to each college you selected on the FAFSA form.
- Each college you have been admitted to will prepare a financial aid package for you.
When Do I Get My Financial Aid?
Any financial aid you are eligible to receive will be paid to you through your college’s financial aid office. Typically, your school will first use the aid to pay tuition, fees, and room and board. Any remaining aid is paid to you for your other expenses.