What is Financial Aid?
There are four types:
- Grants: Are based on financial need. There are both federal and state programs
- Scholarships: Are both merit (grades and activities) and income-based, and come from public, private, and non-profit sources.
- Loans: Are based on your income, and come federal, state, and private sources.
- Work Study: Is based on financial need, federal and state.
Federal Financial Aid:
FAFSA: Students need to be U.S citizens or eligible non-citizens (ex. permanent resident with a Green Card)
Pell Grant: The maximum amount for 2018 was $5,815
Work-study: Students can work on campus and their salary is paid by the government, or the college. Not all jobs require a student to be part of the work-study program.
Loans: These are in the student’s name. Unsubsidized student loans, the student will pay the interest accrued on the loan once they graduate and/or leave college. Subsidized student loans – the government pays the interest.
Parent loans: Would be taken out by the parent to pay for the student’s expenses. There are additional requirements, such as a credit check.
Washington State Financial Aid:
State Need Grant: The amount depends on what type of school you attend.
College Bound Scholarship: This is an early commitment of state financial aid to cover certain college costs. Students must have signed up in middle school.
State Work-Study: Similar to the federal program but the funding comes from Washington State versus the federal government.
Students who can complete the FAFSA (U.S. citizens and permanent residents) are also applying for state aid programs when they complete the FAFSA.
Undocumented students who meet program and state residency requirements can apply using the Washington Application for State Financial Aid (WASFA).
To find out if you qualify, complete the free WASFA to apply for state financial aid.
Fill out one form only.