Paying for College
Paying for college is easier when you have a savings plan in
place. Families should start saving for college as early as possible
through
Coverdell Education Savings or
529 college
savings plans, in which funds deposited accumulate tax-free. To see how much
you need to save, go to the
Savings Calculator.
However, parents and students don't have to be overwhelmed
with wondering whether college is even possible or where to get help. Financial
aid can help.
In order to receive federal financial aid, students must meet
eligibility requirements. Before a school can determine federal financial aid
(and some state aid) eligibility, students must complete the
Free Application for Federal
Student Aid (FAFSA). If you need assistance completing and submitting the
FAFSA, contact SLGFA's Caller
Information and Assistance Department or view the resources below.
If you know or have an idea of what colleges you may
wish to attend, contact the financial aid
offices at those schools.
Additional grants and scholarships can be obtained through a
variety of sources, including your state, any colleges you're interested in
attending, private organizations, and the federal government. Find out what
resources are
available in Arkansas.
As always, the Internet is a great tool to help research what's
out there, and SLGFA's helpful links can give
you a great head start. Avoid any service that charges because there's plenty of
free help.
Sometimes, even scholarships and grant opportunities are not
enough to fully cover the cost of college admissions.
Learn more about how loans can be a useful tool
to cover the gap between the cost of higher education and the amount of
financial aid you receive in the form of grants and scholarships.