Community College Scholarships And Financial Aid

Need money for school? Let's face it, while community college education in America is cheaper than some other post-secondary options, it still isn't cheap. But it's definitely worth the expense! And there are a variety of options to help you pay for your education. There are two main funding options: awards and aid.

Awards:
Awards for students applying to community colleges can come from different sources. On one hand, you have awards offered through the schools themselves, which can be institutional or private. And on the other you have awards offered by outside organizations, such as Scholarship America.

Institutional: Many community colleges offer scholarships on the basis of artistic, academic or other special achievement. These usually range from between $250-$5,000 and may be renewable over the course of study. In some cases, all first-year applicants are automatically considered for certain scholarships, while others require an application. Some awards are offered only to students demonstrating financial need, while others are awarded without regard to a family's finances.

Private: Private scholarships are administered by the school, but the funds are provided by donors outside the college. These awards may range from a few hundred dollars to several thousand and can come from small local service organizations, large corporations, or professional organizations. Awards may favor applicants from certain regions, of a certain cultural background or gender, or going into particular fields of study.

Outside: You also have the option of applying for scholarships directly from organizations, institutes or associations completely independently of a school. Check with your local School District, for starters: they may have scholarship programs to assist students applying to community colleges. And professional associations (for instance the International Technology Education Association) also may provide financial awards. Find out from the various organizations in your community if they have scholarships and what their criteria are, and once you know what field you want to study in, look up any professional organizations to see what's offered.

In your planning, don't forget to look at scholarships available once you're actually in community college: that can also help shape your decision of where to go and what to study, as there may be specific scholarships available for students who plan to continue on to complete a bachelor's degree in certain fields. For instance, the Accenture Community College Scholarship program is designed to support students at community colleges in the high technology and/or business fields who want to pursue a bachelor's.

Aid
Student financial aid can be divided into two categories: federal student aid and college aid.

Federal Aid programs include grants, work-study, Stafford loans and PLUS loans.

Grants: Unlike loans, grants may be based on financial need and don't need to be repaid. The US Department of Education runs a number of different grant programs which can give you up to just under $5,000 per year. Not everyone is eligible for every grant, however: each type of grant may have different eligibility requirements and conditions, so be sure to check them all to see which ones you might qualify for. You may even be eligible for more than one!

Federal Work-Study (FWS): FWS is another federal aid option that does not involve repayment These positions differ from other campus jobs only by their funding source. By filing a FAFSA (Free Application for Federal Student Aid), you also apply for FWS, which is based on your financial eligibility.

Stafford Loans: These are loans for students, with the money coming either from the federal government or a bank, credit union, or other lender that participates in the program. Students entering into first year can apply to borrow between $5,500 and $9,500. These loans do need to be repaid, but the repayment schedules may differ. To apply for these loans you need to fill out a FAFSA, which you can do online.

PLUS Loans: These are loans for parents who are supporting dependant undergraduate students. These funds are sent to the school and applied to your account, and will also eventually need to be repaid.

Community colleges may also be approved for other types of governmental financial assistance, such as Veterans Educational Benefits, Department of Vocational Rehabilitation funds, and Bureau of Indian Affairs monies.

College aid
College aid involves several types of funding. On one hand, community colleges may administer federal campus-based aid programs. This need-based aid is made up of three federal programs that are administered directly by the colleges. Not all schools participate in all three, so check with the colleges you are considering. These campus-based programs provide a limited amount of funds for each school to administer each year, so be sure to apply for federal campus-based aid early. Each school sets its own deadlines for campus-based aid which differ from the FAFSA deadlines.

On the other hand, college grants may be offered to help make up the difference between college costs and what a family can be expected to contribute. Most colleges have a division or department of financial aid where you can find a cost/ financial aid calculator, lists of financial aid available and the necessary downloadable forms. Some grants come with certain obligations, so you'll want to find out about the types of grants awarded by each community college you are considering: don't be shy about contacting the school's financial aid office for information.