Learn financial aid basics

Overview

Understanding financial aid now helps you make informed decisions about colleges and avoid surprises later.

Key Concepts

Types of Financial Aid

| Type | What It Is | Repayment | |------|------------|-----------| | Grants | Free money (need-based) | None! | | Scholarships | Free money (merit or need-based) | None! | | Work-Study | Part-time job during college | Earn as you go | | Loans | Borrowed money | Must repay with interest |

Sticker Price vs. Net Price

• Sticker Price: Published cost of attendance
• Net Price: What you actually pay after aid
• Net price varies by family income!

FAFSA Basics

What Is It?

The Free Application for Federal Student Aid — required for most financial aid.

Key Timeline

• Opens October 1 each year
• California priority deadline: March 2
• File as early as possible!

FSA ID

You'll need an FSA ID account:

• Create at studentaid.gov
• Both student AND parent need separate accounts
• Create them now to be ready!

Net Price Calculators

Every college has a calculator estimating your actual cost:

• College Net Price Calculator
• Found on each college's financial aid website

Encouraging Note

Financial aid makes many colleges more affordable than you might think. Don't rule out schools based on sticker price alone!