Financial aid comes in many forms. Scholarships and grants are money you don’t have to pay back. Student employment provides income to help cover costs and education loans are debt that must be paid back. Each type of aid is a piece of the college funding puzzle and INvestEd is here to help you put the pieces together.
Saving for College
There are many benefits to start saving early for college, and it may be easier than you think. 529 College Savings Plans are a great way to save due to low contribution requirements and Indiana tax breaks! Any amount you save can ultimately lower the amount of student loans you may need to borrow.
Completing / Filing the FAFSA
The FAFSA (Free Application for Federal Student Aid) is the most important form in the financial aid process. It’s FREE and determines your eligibility for both state and federal aid. Most colleges also require the FAFSA to determine your need for institutional scholarships and grants as well.
Finding College Grants
Grants are forms of FREE money for college that do not have to be paid back. Grants can come from the state and federal government, as well as the college or university you attend. The good news is you only have to file one application in order to apply, the FAFSA!
Exploring Student Employment
Student employment is often overlooked but can be a great way to help pay for college and gain practical work experience. Money earned can help cover college expenses and minimize student loan debt.
INvestEd Student Loan
INvestEd has created a no fee private education loan to help families cover the remaining costs for school. This loan includes a benefit for degree completion! Eligibility is based on the credit of the student and typically a cosigner.