FINANCIAL AID
Determining how to pay for college is a challenge for most families and often involves pulling from a variety of sources—from financial aid and loans to scholarships and savings. There are two common types of aid:
Need-based aid - These awards depend on financial need and included grants, subsidized student loans, scholarships, and work-study. A student’s eligibility for need-based aid is based on the FAFSA. Some schools also require the CSS Profile.
Merit-based aid - Merit awards, often termed merit scholarships, are awarded in recognition of student achievement (ie: academic, athletic, artistic, etc.). Merit-based aid does not consider the financial need of the student or family.
FINANCIAL AID FORMS
FAFSA - Free Application for Federal Student Aid
The FAFSA form is used by colleges to determine the expected family contribution for college costs.
CSS Profile - College Scholarship Service Profile
The CSS Profile is an online application to determine eligibility for non-federal financial aid, and it is administered by the College Board.
In addition to completing the FAFSA, some schools may also require the CSS Profile.
To determine eligibility for need-based financial aid, the CSS Profile goes into more detail than the FAFSA.
VASA - Virginia Alternative State Aid
The VASA is an alternate source of funding for Virginians who are nonimmigrants, undocumented, have Deferred Action for Childhood Arrivals (DACA) status or are otherwise ineligible to file the FAFSA.
Students who are interested in applying must meet the requirements to be considered a Virginia student, as well as demonstrate financial need and meet the requirements for the specific financial aid program.
One of the following must be met in order to be considered a Virginia student:
Commonwealth’s domicile requirements;
Military dependents provision; OR
Tuition equity provision
Those who complete a VASA application will be considered for state need-based financial aid; including the Commonwealth Award, Virginia Guaranteed Assistance Program and more. Students should only complete the FAFSA OR VASA application, not both.
Those who are not sure which to complete can complete this questionnaire.
FINANCIAL AID RESOURCES
Academic Common Market, Southern Regional Education Board (SREB) - The Academic Common Market is a tuition-savings program for college students in 15 SREB states, who want to pursue degrees that are not offered by their in-state institutions. Students can enroll in out-of-state institutions that offer their degree programs and pay the institution’s in-state tuition rates. More than 1,900 undergraduate and graduate programs are available.
College Affordability Guide
Fastweb - Connect to scholarships, financial aid and more
Federal Student Aid - U.S. Department of Education site contains information on Direct Subsidized and Unsubsidized Loans, Federal Parent PLUS LoansU.
finaid - A comprehensive student guide to financial aid
MyinTuition - Quick College Cost Estimator
National Association of Student Financial Aid Administrators (NASFAA)
Net Price Calculators - You can use the College Board’s Net Price Calculator to estimate your net price at hundreds of colleges. Net price calculators are available on a college’s or university’s website.
State Council of Higher Education in Virginia (SCHEV) - Financial aid information for Virginia colleges
VA 529 Plans - College savings plan information
Virginia Tuition Assistance Grant (VTAG) - The Tuition Assistance Grant Program is designed to assist Virginia residents who attend accredited private, nonprofit colleges and universities in Virginia for other than religious training or theological education.
This information is provided for your convenience. Postings do not indicate endorsement or sponsorship by Meridian High School, FCCPS, nor any administrator or employee of either Meridian High School or FCCPS.