College costs can be overwhelming—but the right financial aid strategy can make higher education accessible and affordable. Whether you’re a high school senior, a returning student, or a parent, here’s what you need to know to get the help you deserve.
1. Start with the FAFSA
The Free Application for Federal Student Aid (FAFSA) is the key to unlocking federal grants, loans, and work-study opportunities.
- It’s free to complete at studentaid.gov
- Submit it as early as possible—the earlier, the better
- You’ll need tax info, income details, and school choices
Even if you think you won’t qualify for aid, submit it anyway. Many schools use FAFSA data for scholarships and state grants.
2. Know the Types of Aid Available
Financial aid comes in several forms:
- Grants – Free money (like the Pell Grant) you don’t have to pay back
- Scholarships – Merit-based or need-based aid from schools, companies, or nonprofits
- Federal Work-Study – Part-time jobs on or near campus
- Federal Student Loans – Borrowed money, often with lower interest rates and flexible repayment
Understanding the mix will help you borrow less and earn more free aid.
3. Apply for Scholarships—Early and Often
There are scholarships for nearly everything: academic merit, sports, volunteering, specific majors, and even unique hobbies.
- Start your search locally—community foundations and clubs often offer scholarships
- Use databases like Fastweb, Cappex, and Scholarships.com
- Reapply every year—don’t assume it’s a one-time thing
4. Ask Your School About Institutional Aid
Many colleges offer their own financial aid programs beyond federal sources. These may include:
- Need-based tuition discounts
- Merit scholarships
- Department-specific awards
Contact the school’s financial aid office or admissions counselor to learn what’s available.
5. Review Your Financial Aid Award Letter Carefully
After applying, you’ll receive a breakdown of aid offers from each school. Read it closely:
- Separate grants and scholarships from loans
- Understand what’s renewable each year and what’s one-time
- Make sure you know what’s expected from you (like GPA requirements)
We Help Families Plan Smarter
At Diligent Financial Strategies, we help families plan for college without jeopardizing retirement or taking on unnecessary debt. Whether you’re exploring savings options or navigating financial aid, we’re here to guide the process with clarity and care.