Paying for College

purple umbrella

             

It can be helpful to think of financial aid as an umbrella. And under that umbrella there many types of aid from many different sources. Each individual will their own financial aid journey filled various methods of paying for college. Planning is imperative. The earlier the better. However, things like grants, loans, and work study will be based on the results of filling out the FAFSA in senior year (always opens on Oct. 1st). Scholarships can be searched for starting much earlier. However, the bulk of them are applied for starting after junior year ends.

 

Income-based, federal, state, and institutional.


Examples: 

Federal- Pell Grant

State- Washington College Grant

Institutional- A grant directly from UW

Don't have to repay

Income-based, federal and private.


Examples:

Federal- Direct Subsidized, Unsubsidized, Plus Loan

Private- Sallie Mae Student Loan

Have to repay

Merit and income-based, from public, private, and nonprofit sources.


Examples:

Merit- athletic scholarships, academic achievement scholarships

Income based- any scholarship that awards based on financial need

Scholarships can come from an endless number of sources

Don't have to repay

Income-based, federal, state, and institutional.


Provides part-time jobs for undergraduate and graduate students with financial need allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study.

Receive pay for work