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FAFSA, scholarships, and loans

The student finance rollercoaster

by Adam Hostetter/Sports & Entertainment Editor 

Screen shot 2014-02-20 at 2.18.11 PM

Above is screen shot of the FAFSA homepage. Students can get financial aid by filling out a FAFSA at http://fafsa.ed.gov

School can cost a lot of money. When college graduates are leaving with record amounts of student debt, financial security has to be a top priority. Fortunately, there are many options today for students to pay for tuition that do not require loans. The very first step every student should take for financial assistance is filling out a Free Application for Federal Student Aid (FAFSA). FAFSA will give a student access to grants, which do not need to be paid back, and student loans, which normally have a lower interest rate than private loans. It is of upmost importance to fill out a FAFSA form as early as possible, namely because funds are limited and based on need. The sooner they are turned in, the more grant money is available.

Filling out a FAFSA form early also helps a student’s ability to earn scholarships. Many scholarships usually require the FAFSA form to be completed beforehand, so getting a jump start on this process really helps down the road. Scholarships are very similar to grants in that they do not have to be paid back, but they usually have prerequisites for applying, such as which high school you went to, having a family member in the military, etc. Scholarships also have application deadlines, usually early in the year so be prepared. If you are having trouble finding scholarships, the Lake Land College Financial Aid website provides databases of scholarships to browse. The Financial Aid site is accessible from the Lake Land homepage under the “Paying for College” tab.

Lake Land students also benefit from the Lake Land College Foundation, which provides LLC students with scholarship awards of up to two thousand dollars. Just one application will provide a student for all the scholarships eligible. While applications for the LLC Foundation are due by Mar. 1, they are available every year.

For more information on the Free Application for Federal Student Aid, visit https://fafsa.ed.gov. For more information about Lake Land College’s Foundation and private scholarships, visit the Lake Land Financial Aid website using the aforementioned directions.


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