There are basically three types of federal financial aid:
- Grants - financial aid that does not have to be paid back.
- Work Study Programs - jobs for students that help them meet educational expenses.
- Loans - money that must be paid back with interest.
Most federal student aid is awarded based on the basis of financial need.
Free Application for Federal Student Aid (FAFSA)
Students must apply for a FAFSA before applying for any type of financial aid. Best to file as soon after October 1 as possible, so you can meet deadlines of other types of funding. The goal is to complete your FAFSA as soon as possible. FAFSA must be completed each year.
Texas Financial Aid Information Center (TFAIC)
Great place to get information on all types of financial options.
Scholarships and Grants
Private Colleges and Universities may use their own funds - be sure to check with each university.
Scholarship information: Look on the bulletin board outside the U, follow the U on twitter (@magnoliaccc), and pick up the scholarship list in the U.