Embarking on a new journey is exciting and filled with many opportunities. For some, investing in your future starts with education and finding a program that best fits your skillset. When starting school, one of the obvious things that you have to determine is how you are going to pay for your education. While many set out to save money before enrolling, requirements like rent, utility bills, and groceries can make it difficult.
Where do I begin?
The first step in applying for financial aid is to create an FSA ID and complete the Free Application for Federal Student Aid (FAFSA). This requires personal and financial information from you, the student, and possibly your parent, if applicable.
A processed FAFSA form will let us know your eligibility for federal financial aid and enable us to find the best package to fit your need.
What kind of help is available for me?
If you qualify, there may be federal and private financial assistance available to you. As part of this assistance, you may choose to apply for federal loans that you will not have to start to pay back until six months after you leave school. Also, if you are a dependent student, your parent may choose to apply for a Direct PLUS loan to help you on your journey.
Grants and scholarships, both of which do not require repayment, can also be a funding option for you. While grants are normally awarded based on financial need and other qualifying factors, scholarships are usually awarded based on merit like academic achievement or special interests.
What are other ways to fund your education?
You are always welcome to sign up for a cash payment plan directly with the school that would be fully paid off by the time you complete your program. Additionally, agencies, organizations and even employers that may work with you to help you pay for your education as well.
When deciding to go to school, the most important thing to keep in mind as you consider your finances and weigh your options is that there are many possibilities to assist you with financial aid and there is probably a combination of resources that would work well for your needs.
Visit TheFutureIWantNow.com/PCI to schedule a visit to one of our Porter and Chester Institute campuses in New England and see how our school can help guide you to financially planning for your future career.