At Summit College, we recognize that many students need financial assistance to pursue their education. Fortunately, there are many great financial aid programs available that can make college much more affordable. In fact, a majority of our current students use some type of financial aid to fund their program, and our financial aid counselors are here to help.
What is Financial Aid?
Financial aid is a broad term for programs that help students pay for college. This financial assistance covers most of the educational expenses involved with college, including tuition, fees, housing, books, supplies, and even transportation. There are many different types of financial aid available:
- Student loans
- Work study programs
Many financial aid awards include a combination of these different types of aid. Our financial aid counselors can help you to weigh the pros and cons of each option to choose the best possible package for your education.
What is the FAFSA?
If you are interested in financial aid to help pay for your education, there is a term with which you need to be familiar – the FAFSA. The Free Application for Federal Student Aid (or FAFSA) is a standard form that determines student financial aid eligibility. It can be completed by both prospective and current college students in both graduate and undergraduate programs. To determine your eligibility for most types of financial aid, you will need to complete the FAFSA.
How Should You Prepare to Apply for Financial Aid?
To apply for financial aid, you will need to complete the FAFSA application. Before you complete the application, you will need to have several important documents or pieces of information available:
- Your Social Security number
- Your most recent income tax returns, W-2s, and records of any other money earned
- Bank statements
- Records of investment
- Records of any untaxed income
- An FSA ID, which will allow you to sign the application electronically
You may be able to complete the application with your own income information. However, if you are a dependent student, you will need to also include this information from your parents. Our financial aid counselor can help you determine exactly whose information should be submitted.
How is Financial Aid Eligibility Determined?
The FAFSA uses several criteria in order to determine whether financial aid can be awarded. Some of these include:
- U.S. citizen or eligible noncitizen status
- Registration with Selective Service, if you are a male
- Have a valid Social Security Number
- Be enrolled (or accepted) as a regular student in an eligible certificate or degree program
- Be enrolled or eligible for Direct Loan Program funds
- Maintain acceptable academic progress in your college or career school
- Show proof that you are qualified to attend college, which involves completion of a high school or GED program
All students are encouraged to contact our Financial Aid Office to make sure they are receiving any possible financial assistance benefits. Our dedicated team is committed to helping you find a way to pay for college to get that job of your dreams. Contact us today for more information.