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Getting the most out of your financial aid

When students head off to college, dealing with the costs of education can be frightening. But in addition to tuition, there are basic necessities like housing, food and books, not to mention the expense of furnishing a college room. The amount you need to cover these expenses can seem overwhelming. Good news - financial aid has taken these things into account when calculating the cost of attending college. So, if you choose, you can maximize your financial aid to cover college-related costs. That means taking advantage of all your options, like scholarships, grants, work-study programs, on-campus jobs, and even student loans.

The best solution is to get the most “free money” first. Here are some quick tips for getting more free money.

Free Money

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Apply early, apply often

Apply for every scholarship and grant you can find, even if it may not seem like a perfect fit for your major or field of study. If you don’t apply, you don’t stand a chance of getting the aid. You may not get everything you apply for, but getting your name out there is the only way to get ahead. Some great places to start are your college financial aid office, your local library, or use this online search engine to expand your search here.
Search Locally

Many local companies are looking for talented local students to help out. It gives them a good connection with you and the community and gives you the free money you need. Start by calling reputable local companies and asking them if they have a scholarship, internship or other assistance program.
Look for work-study programs

These programs can be hard to come by since most of them are need-based, but apply yourself early and get your name in the running for these positions and you’ve got a better chance at money that doesn’t have to be paid back.
Deals and Free Stuff
Who doesn’t love free stuff!? There are a lot of cool things out there you can take advantage of to help you with budgeting and planning. Also, many businesses offer freebies to students. Here are a few things we’ve found just for you.
- Budget Smart Software

Think about college as a full-time job. Colleges figure in the additional costs of living, including things like computers and transportation. That means that your financial aid, including loans, can cover some of these costs. If you’ve exhausted your other options student loans can help you get by while you’re in school. Here are some tips for using them wisely.

Creative ways to save money

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Look for creative ways to save money

Check out the campus and community library for books. Online resources often sell books at a discount. Buy used. Shop at thrift stores or discount groceries to reduce your costs. Clip coupons. There are lots of creative ways to reduce your costs so you don’t have to use student loans to get by.
Look for work

Working at least part time is a great way to offset the costs of college. Many employers are looking for talented college students, and they like the flexible hours that students are able to work. Check into part-time jobs that work around your schedule to help with the costs of college.
Use your financial aid wisely

Never borrow too much or use your student loans for purchases that aren’t for college. In other words, it may not be smart to take your extra student loan money to buy a big TV for your dorm room. Always be smart with your sending and realize that it is a loan, and you’re required to pay it back with interest.
If you don’t need it, pay it back

It’s as simple as that. If you use the money, you’re taking a loan, so if you can offset your loans with work or other money, you’re better off in the long run. If you don’t need the money from your loan, pay it back immediately and save yourself long-term interest costs.

For more information about financial aid and preparing for college, visit your college financial aid office or give us a call. For more information about financial aid, visit your college financial aid office or call Wright-Patt. For information about jobs visit our careers page.