What is financial aid?
Financial aid is comprised of different types of funding from different sources to help students and their families pay for the total cost of attending college. There are four main sources of financial aid; Work Study, Scholarships, Loans, and Grants. Three of these four sources are determined when families file the Free Application for Student Aid (FAFSA) which is available to be filled out October 1st each year and will qualify students for aid for college. Parents will use their tax returns.
FAFSA HELP AT CFHS
The Cedar Falls Counseling Office offers assistance with completing the FAFSA throughout the school year
You can also schedule an appointment with someone from the Iowa College Access Network at anytime.
FAFSA HELP AT CFHS
The Cedar Falls Counseling Office offers assistance with completing the FAFSA throughout the school year
You can also schedule an appointment with someone from the Iowa College Access Network at anytime.
Types of Financial Aid
ScholarshipsMoney that does not have to be repaid and may be awarded on the basis of need or it may be given for academic achievement or talent. Students may also see private scholarships through websites, colleges, or Career Cruising for local scholarships. More on scholarships here
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GrantsA monetary aid award given to a student that does not have to be paid back (FREE MONEY)! The terms "grant" and "scholarship" are often used interchangeably but grants tend to be awarded solely on the basis of financial need, identified through the FAFSA.
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LoansThis is money that MUST be paid back with interest. Most education loans have a lower interest rate than commercial loans and do not have to be repaid until college is completed. There are a variety of commercial sources for loans as well, these are often called private loans.
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Work-StudyAn arrangement by which a stuent combines employment and college study. The employment may be an integral part of the academic program or simply a means of paying for college.
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Resources
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