TRANSITION

FOSTER CARE TRANSITION GUIDE
The Different Types of Financial Aid
Financial aid is money to help pay for college or career school. Aid
typically comes from four sources.
1. The U.S. federal government. There are three types of federal
financial aid. Complete the FAFSA to learn whether you qualify for
these types of aid.
• Grants—financial aid that doesn’t have to be repaid (unless,
for example, you withdraw from school and owe a refund).
For example, Pell Grants, need-based grants to low-income
undergraduate students, can be used to pay for tuition, fees,
books, supplies and even living expenses.
• Loans— borrowed money for college or career school; you
must repay your loans, with interest.
• Work-Study—a program through which you work and earn
money to help you pay for school.
2. The state where you live. Even if you're not eligible for federal
aid, you might be eligible for financial aid from your state.
Contact your state grant agency for more information.
3. The college you attend. Many colleges offer financial aid from
their own funds. Find out what might be available to you:
• Visit your school’s financial aid page on its website, or ask
someone in the financial aid office.
• Ask at the department that offers your course of study; they
might have a scholarship for students in your major.
• Fill out any applications the school requires by the deadlines.
4. A nonprofit or private organization. Many organizations
offer scholarships or grants to help students pay for college.
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