SENIORS
Fund Your Education
- Estimate your financial aid. Use the FAFSA4caster (see studentaid.ed.gov/sa/fafsa/estimate) to compare the cost of colleges and estimate your financial aid eligibility.
- Explore scholarship opportunities. Use these links:
- Start the FAFSA (Free Application for Federal Student Aid). Complete the FAFSA between October 1 and March 1 to maximize the financial aid you may receive. Go to fafsa.ed.gov. Add the schools that you are applying to on your FAFSA. This is a FREE application. You and your parent will each need a Federal Student AID (FSA) identification to get started. You will need information from your parents, including tax returns.
- Check the FAFSA priority deadlines. Schools have different deadlines. Submit your FAFSA by those dates. Funds are limited and may be awarded on a first-come basis.
- Start at scholarships.delawarestudentsuccess.org. You should complete your FAFSA by March to meet most scholarship deadlines.
- Complete the CSS/Financial Aid PROFILE® (required by some programs and colleges) to see if you qualify for grants and scholarships. Check to see if you will need to complete this for where you are applying. Applications open Oct. 1. Go to student.collegeboard.org/css-financial-aid-profile.
- Review SEED/Inspire deadlines. Delaware high school graduates must start college in the fall following graduation to be eligible.
- SEED Scholarship: You need at least a 2.5 GPA and can go tuition-free for your associate degree at the University of Delaware or Delaware Tech (up to ten semesters).
- Inspire Scholarship: You need a 2.75 GPA and can receive full tuition (up to eight semesters) at Delaware State University. delawarestudentsuccess.org/state-aid.
- Submit your scholarship applications and watch for deadlines.
- Submit the Free Application for Federal Student Aid as soon as possible after October 1 to be eligible for federal grants, loans and work-study funds. The sooner you complete it, the sooner you will have an idea of your financial aid options.
- Attend a FAFSA Completion workshop held at your school. Visit www.delawarestudentsuccess.org/events for details.
- Update your list of scholarships you plan to apply for.
- Review your acceptances and compare financial aid packages.
- Make sure you understand what items in your financial aid package are grants (you don’t have to pay back) and what are loans (you do have to pay back). Use a chart to compare the offers you receive, as each financial aid letter will look different. Here’s a chart: bit.ly/CompareAidCalculator.
- Weigh the cost of attendance with the salary you might earn to choose the best fit academically and financially.
- Call the college with questions about what your financial aid will cover.
- Review the Student Aid Report, a summary of what you filled out on the FAFSA. Make sure that all of the information is correct and make any changes (like updating tax information), if necessary, by March 15. Anytime you make a change to your FAFSA, you and your parents need to sign it again before submitting it.
- Look for grants, work-study opportunities and more scholarships before accepting a student loan.
- Continue to evaluate all financial aid offers carefully. Contact the financial aid office at the colleges you are considering with any questions you may have.
- Use the Net Price Calculator with your parents to find out the potential for financial aid and the true out-of- pocket cost — or net price — of each college.
- Examine your and your family’s budget and cash flow. Figure out how you will afford your intended college.
- Review financial aid award letters. Determine if the financial aid package covers all anticipated costs. Plan to make up for shortfalls.
- Contact the school’s financial aid office with questions. Know how much aid you will be required to repay. You will need money for non-tuition items: housing, meal plans, books, transportation to/from school, lab/art supplies and computer. Plan for these expenses.
