This month

Financial aid awareness

• Feature — Types of financial aid
• Your turn — Scholarship search tips
• Stay on track — A checklist of "to-dos"
• Take notice — Important dates
• All about AIEmail — Subscribe, suggest, review

Feature

Types of financial aid

One of the biggest misconceptions about financial aid is that only students who are exceptionally smart or who don't have money can qualify.

Although there is need-based financial aid that may not be available to the wealthiest students, the truth is that there are many forms of aid that are not determined by financial need at all. And those of you who aren't the best scholars will be happy to know that most forms of aid only require the student to maintain a passing average — no dean's list required.

The different types of financial aid include:

• Scholarships
  Free money — Scholarships and grants are known as gift aid because they do not require repayment. Anyone that plans to attend college should find out if he or she is eligible for any scholarships before considering student loans.
• Grants
  If you're planning for college and need financial assistance, you will want to find out if you are eligible for grants. Grants are available to many qualifying students and do not require repayment. Many different sources award grant money to students — including the federal and state governments. The government and the financial aid office determine a student's eligibility for a grant and the amount of the award based primarily on the student's financial need.
• Loans
  If you've already applied for or taken advantage of all other available forms of financial aid, you may need to consider taking out a loan to cover remaining college costs. There are several different types of student loans, so you will want to become familiar with all of the terms and conditions associated with a loan before you decide to apply for one. Unlike gift aid such as grants and scholarships, loans aren't free money. So remember, whatever you borrow to attend college, you must pay back.
• Work-study
  Don't think you'll get any gift aid to help you pay for college? Don't want to borrow any money for college? There is another option — you can work while attending school. The Federal College Work-Study Program provides funding for jobs for undergraduate and graduate students with financial need attending any eligible postsecondary school. This program allows students to earn money to pay educational expenses by working either on campus or within the community.

For a more in-depth look at the different forms of financial aid, visit AIE's "Types of Financial Aid" page (www.AIE.org/HighSchool/hs_aidtype.cfm).

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Web quest

Scholarship search tips

You should never assume that you will not be eligible for a scholarship. There are many unique scholarships offered by a variety of sources that may want to invest in your higher education adventure — you may be surprised by what you find!

Ask your counselor
Your high school counselor has information about scholarships, and he or she can help you determine your eligibility for certain ones.

Do your research
Most states and numerous private and/or public organizations offer scholarships and grants. You should research the phone book, Internet, and library for service groups that raise scholarship money for local students. Also, if you have a part-time job, ask your employer (or your parents' employers) if they offer scholarship opportunities or tuition reimbursement. Inquire about scholarship opportunities with your friends, neighbors, and a financial aid officer in the school you plan to attend.

Search for scholarships on the Web
There are many free scholarship searches located online that can help you find scholarships that match your qualifications. Try using AIE's Scholarship Search (www.AIE.org/sbase) for starters! Or, check out AIE's Internet Resources (www.AIE.org/Links/links_finance.cfm) page for links to other pages that provide helpful financial aid information.

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Stay on track

Checklist for this week

For freshmen

Winter continues to march along and so does your freshman year. Here are some monthly reminders:

• Review course selections for your sophomore year.
• Continue to study hard.
• Measure your success in keeping your New Year's resolutions.
• Volunteer your time to others.

For sophomores

As you work your way through the shortest month of the year, here is your monthly checklist:

• Review your course selections for your junior year.
• Continue to study hard.

For juniors

It is time to get organized for the month with these hints:

• Mark your calendar now with all spring college entrance exam dates.
• Register for the April SAT.
• Review your PSAT results.
• Review your senior year course selections with your counselor.
• Make sure you have all your course work for graduation.
• Begin searching for prospective colleges.

For seniors

It is time to get your month in order, so here are a few reminders.

• If you have not already done so, complete the Free Application for Federal Student Aid (FAFSA).
• Complete any available scholarship forms.
• Check with your prospective colleges to see if they require SAT Subject Test results.
• Read about financial aid options at www.AIE.org/HighSchool/hs_aidtype.cfm.
• Apply for a PIN code from the U.S. Department of Education at pin.ed.gov. You'll need this number to complete and submit the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov, which you want to do as soon as possible.

For parents

As we enter the shortest month of the year, here are some reminders for February:

• If you have not already done so, complete the FAFSA for your senior's college financial aid process.
• Read and sign any necessary paperwork for the course selection process of your freshman, sophomore, or junior.
• Ask your senior if information about ordering graduation invitations, cap, and gown is available.
• Provide payment for SAT registration fees for your junior. Have them review their PSAT results.
• Read about financial aid options at www.AIE.org/HighSchool/hs_aidtype.cfm.
• Consider visiting some colleges with your junior during spring break.
• If you have a senior, apply for a PIN code from the U.S. Department of Education at pin.ed.gov. You'll need this number to complete and submit the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov, which should be completed as soon as possible.

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Take notice

Important dates

Mark down these dates.

To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web Site(www.collegeboard.com) or call (609) 771-7600.

To get more information on the ACT, access useful tools, or register, visit the ACT Web Site (www.act.org) or call (319) 337-1270.

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