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Every year, millions of students graduate from high school. A college education is often the foundation to achieve their dreams, and funding that education may not be as hard as it seems. Student aid is available from many sources. A good place to begin searching is the local library. Most libraries have a student aid section.
There are also many other resources available:
 Federal Student Aid Programs - State Student Aid Programs
- Foundations
- Religious Organizations
- Civic Groups
- Unions
- Parents' Employers
- Professional Organizations (i.e. American Medical or Bar Associations)
Federal Student Aid Programs
The United States Department of Education provides $33 billion each year to students attending post-secondary schools. It provides financial aid through a variety of programs, including:
- Federal Pell Grants – For undergraduates only. They do not have to be repaid.
- Federal Stafford Loans – Available to both undergraduate and graduate students. They must be repaid. First-year undergraduates are eligible for loans up to $2,625. Amounts increase for each year of study. The interest rate varies but never exceeds 8.25 percent.
- Federal PLUS Loans – Unsubsidized loans made to parents. The interest rate varies but never exceeds nine percent.
- Campus-Based Programs – Administered by participating schools.
- Federal Supplemental Educational Opportunity Grants – For undergraduates only, they range from $100 to $4,000.
- Federal Work Study – Provides jobs to both undergraduate and graduate students so they can earn money to pay education expenses.
- Perkins Loans – Low interest (five percent) loans that must be repaid. Loans can be up to $4,000 annually for undergraduates and up to $6,000 annually for graduate students.
To qualify for these programs, the student must be (1) a United States citizen or an eligible non-citizen registered with the Selective Service; (2) attending a participating school; (3) working toward a degree or certificate; and (4) making satisfactory academic progress. You must also have a financial need with no drug convictions, and not owe a refund on a federal grant or be in default on a federal loan. For more information, contact your college financial office or visit the U.S. Department of Education website: http://www.fafsa.ed.gov/
Ohio Financial Aid Programs
The Ohio Board of Regents manages state-funded financial aid programs, including:
- Part-Time Student Instructional Grant – For Ohio residents who are enrolled part-time in undergraduate studies at an eligible Ohio college or university.
- Ohio Instructional Grant – Provides need-based tuition assistance to full-time undergraduate students from low-income and moderate-income families.
- The Ohio War Orphans Scholarship Program – For children of deceased or severely disabled Ohio veterans who served in the armed forces during a declared war or conflict.
- Regents Graduate/Professional Fellowship Program – Merit-based financial aid to Ohio college graduates who enroll for further study at participating Ohio institutions.
- Ohio Safety Officers College Memorial Fund – Provides tuition help to child or spouse of a peace officer, firefighter or certain other safety officers killed in the line of duty.
- Nurse Education Assistance Loan Program – Provides financial aid to Ohio students enrolled for at least half-time study in an approved Ohio nurse education program.
- The Ohio Academic Scholarship Program – Provides competitive, merit-based financial assistance to Ohio high school graduates who are academically outstanding and enroll for full-time undergraduate study in Ohio colleges or universities.
- Robert C. Byrd Honors Scholarship Program – Awards financial assistance to students who demonstrate outstanding academic achievement in high school.
- Ohio Student Choice Grant Program – Provides financial help to full-time students who enroll for baccalaureate study in Ohio private non-profit colleges and universities.
- Student Workforce Development Grant Program – Provides tuition assistance to Ohio students enrolled full-time in private career schools.
For more information, visit the Board Of Regents website at: http://regents.ohio.gov
Other Useful Websites for Financial Aid Information:
FastWeb – www.FastWeb.com
USA Funds – www.usafunds.org
Bill and Melinda Gates Foundation – www.gmsp.org
I Know I Can – www.iknowican.org
Cleveland Scholarship Programs, Inc. – www.cspohio.org
Ohio College Access Network (OCAN) – www.ohiocan.org
Association of Student Financial Aid Administrators – www.finaid.org
For more information, please visit www.ohiotreasurer.gov or call us at 1-800-228-1102. |
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