There is a considerable amount of college financial aid available for students with demonstrated need. Both the amount of this aid and the type of aid programs are changing. In addition, many colleges are adding a merit consideration to grants beyond straight need criteria. Nevertheless, aid may be available to you even if you believe your income and assets may not fall within qualifying ranges. If in doubt, the financial aid officers of the colleges to which you are applying are usually happy to give you advice.
There are now two national processors which determine your financial need. The most widely used is the CSS (College Scholarship Service/Financial Aid Profile) in Princeton, New Jersey. Further information is available at www.collegeboard.com.
You should also utilize the Free Application for Federal Student Aid (FAFSA). Their website is www.studentaid.ed.gov. You will need to check to see which service is used by a particular institution. In addition, some colleges may require that you submit substantiating documents.
The college will then award aid based on whatever guidelines it follows in light of your demonstrated need.
Generally, this aid will consist of some outright grants, some loans, and some student work. The distribution of this aid package will vary considerably from college to college, and it should factor into decisions on which school to attend.
You will also need to be careful about what figure is used by the college to determine its cost. Some colleges will grant you aid to meet only tuition, room, and board, while others will also include the “hidden” costs of books, transportation, etc. For those families applying to private colleges in South Carolina, there is a South Carolina tuition state grant program. This grant must be applied for separately from the application through a national processor, such as
FAFSA.
The OSC and colleges themselves can provide you with more information about scholarships and financial aid during the fall when the forms for the coming year are available. In the meantime, don’t preclude your child from investigating the possibility of a college because of its cost. It may not be beyond reach.
Helpful Websites:
Scholarships
College and Career Corner
Life, Palmetto, and Hope Scholarships
The eligibility of students who will be attending a postsecondary school in South Carolina for Life, Palmetto, and Hope scholarship consideration is determined by the South Carolina Commission on Higher Education. Check the following website for updates: www.che.sc.gov and click on Scholarships and Grants for SC. Under each, click Q&A for more details.