Financing your education can seem like a daunting task. You already know that you should look into financial aid options, but you aren’t sure about where to start. Here at the
Higher Education Student Assistance Authority (HESAA) we are here to help you know where to apply for student financial aid. Follow these easy steps and you’ll be on your way to financing your education:
1. Apply for Federal Aid
Complete the
Free Application for Federal Student Aid (FAFSA). Federal Student Aid is the largest provider of student financial aid in the nation. It provides financial assistance in the form of grants, loans and a work-study program. There is no age limit to receiving assistance; you simply need to meet all of the
eligibility requirements. The FAFSA application is available online and the earlier you fill it out the better. Be sure to visit their website and familiarize yourself with the
current deadlines. They even have an
Early Estimator Calculator that can help you get a rough idea of an early estimate of your eligibility for federal student aid. They recommend juniors in high school or even those in middle school to use this calculator. Having an idea of the funding that may be available to you early on will help you create a successful strategy for paying for school.
2. Apply for State-funded Grants and Scholarships
Make sure you are also considered for state assistance. When submitting your FAFSA, check to see if your state offers state funded grants and scholarships. Applying for state funding in New Jersey is easy and convenient. After you’ve submitted your FAFSA online, simply register for an account through the HESAA website and answer the New Jersey grant questions. The
New Jersey Tuition and Grant Program (TAG) is one of the most generous need-based financial aid programs in the nation. It offers funding for full and part-time students attending select schools in New Jersey. The TAG program also offers an online
NJ TAG Estimator to help you see what types of funding may be offered to you. New Jersey also has merit-based scholarships available through the
New Jersey Student Tuition Assistance Reward Scholarship (NJ STAR). These scholarships are eligible to those who rank in the top 15% of their class at the end of their junior or senior year of high school who plan on attending select county colleges in New Jersey. In addition to these two programs, there is information about many more state funded grants and scholarships available through
HESAA.
3. Look into Supplemental Student Loans
Consider investing in a student loan. There are times when college savings, scholarships, grants and federal loans just aren’t enough.
Federally funded student loans, both subsidized and unsubsidized, tend to be the best and most affordable options. However, you may not qualify for these student loans, or you may not qualify for a loan large enough to cover all of your costs. When this is the case, students and their families can begin looking at private & supplemental loans like
New Jersey College Loans to Assist State Students (NJCLASS) available through
HESAA. HESAA will help you determine if you are eligible for NJCLASS loans. These supplemental student loans are offered to those New Jersey residents who plan to attend an eligible in-state or out-of-state school and to out-of-state students attending an eligible school in New Jersey.
Knowing the types of financial aid available to you can help you start your financial planning early. Having a plan on how you will pay for school is one of the first steps in setting yourself up for success. Following these easy steps will help you make one of the smartest investments in your future.
