Financial Aid

The Finacial Issue : Harbor City to Post-High School

As costs of education beyond high school increase, students and their families are required to become more savvy in regards to financial aid.
There are two basic types of financial assistance.

• Merit based - Academic success or other performance based success.
• Need-based - Based on the estimated contributions of the student's family towards post-secondary aspirations.

Both can be in the form of Scholarships (Financial Gifts) or Need-based Financial Aid (Grants/Loans). Here we will discuss the latter.


Need-based Financial Aid

This is the most common form of financial assistance. Need-based financial aid packages include a combination of federal, state and/or institution-based loans, grants and work-study programs.

The Free Application for Federal Student Aid (FAFSA) is just that FREE! If at any time wen you are looking to complete your FAFSA you are asked to pay money, STOP!, you are most likely on a fraudulent site. There are a few out there.

The FAFSA website offers you information on: (1) getting organized to complete the FAFSA, (2) completing the FAFSA, and (3) checking on your status or updating your FAFSA information.

FAFSA Pin

The PIN is needed if you plan to submit the FAFSA electronically. To apply for your PIN online, go to the Department of Education's PIN Site.

FAFSA Pin Website

Both students and parents need to apply for PINs. If you are a dependent student, you and your parent will need to sign your application, therefore, we recommend that you and your parent(s) apply for a PIN in January.

Once you have both of your student and parent PINs and your family income tax forms completed you can go to the FAFSA website and apply online. Typically, this happens the first couple weeks of February.

FAFSA Website

Other helpful Financial Aid websites:

www.finaid.org
Petersons
Minnesota Office of Higher Education