Paying for College / Fellowships, Scholarships, Grants, Loans,
 and Work Study

Because financial aid sources vary between schools, your best and quickest source of information on student financial aid is the financial aid office at your institution of choice.  We advise you to call and make an appointment to go by and talk to them.  Before you go, we encourage you to fill out a Free Application for Federal Student Aid (FASFA) form.  By doing this you will speed-up the process considerably.  Here is a link to the website where you can find and fill out the form:  http://www.fafsa.ed.gov/.  This form will help the institution quickly identify what programs might be available to you.

Student Financial Aid Terms You Should Know:

Fellowship – a scholarship or grant awarded to a graduate student in a college or university.

Scholarship – financial aid that usually is awarded for merit or academic achievement.  A scholarship considered gift aid and does not have to be paid back.

Grant – a gift aid that does not have to be paid back.

Loan – money which must be repaid.  Loan programs have varying repayment provisions.

Work Study – this program provides jobs that enable students to earn a portion of school costs through employment at the institution.

Need – the term “need,” as used in financial aid, usually refers to the difference between the resources available to the student (from parent’s, student savings and summer jobs, etc.) and the cost of attending the student’s selected postsecondary institution.   The process of determining “need” is often referred to as a “need analysis.”

Self Help – financial resources provided by the student.

Family Contribution – the combined contribution reasonably expected during the enrollment period from the student (and his or her spouse if applicable), as well as from the student’s parents if the student is a dependent.

Free Application for Federal Student Aid (FAFSA) – a free form distributed by the U.S. Department of Education to collect information used to determine a student’s need for federal financial aid. 

Conversion scholarship/loan –  A scholarship that requires you to provide certain services, such as teaching or nursing, for a certain length of time. If the services are not provided, the scholarship becomes a loan which must be paid back with interest.

Waiver – An agreement that allows attendance at a school without having
to pay tuition or other costs if certain eligibility requirements are met.

Below you will find links to various state, regional and national websites that will help you with financial planning for college. 

State Sources:

State of Alabama Financial Aid Programs
For description and value, who may apply, and how to apply, click on the link above.

Alabama Student Assistance Program
Alabama Education Grant Program (Private Non-Profit Institutions Only)
Alabama National Guard Educational Assistance Program
Police Officer’s and Firefighter’s Survivor’s Educational Assistance Program
Alabama GI Dependents' Educational Benefit Program
Alabama Prepaid Affordable College Tuition Program
Alabama Scholarships for Dependents of Blind Parents
American Legion Auxiliary Scholarship Program
American Legion Scholarship Program
Junior and Community College Athletic Scholarship Program
Junior and Community College Performing Arts Scholarship Program
Senior Adult Scholarship Program
Two-Year College Academic Scholarship Program

Minority Doctoral Scholarship Program
The Southern Regional Education Board's State Doctoral Scholars Program was developed with support from The Pew Charitable Trusts and The Ford Foundation. It is part of a nationwide initiative, the Compact for Faculty Diversity, to produce more minority Ph.D.s and to encourage them to seek faculty positions.

Regional Sources:

Southern Regional Education Board’s Electronic Campus – Financial Aid

National Sources:

Student Guide to Financial Aid (Federal Aid programs) 

Smart Student Guide to Financial Aid