Who Can Get Financial Aid For College

Q: I do not make much money from my current job, and would like to look into my options for college. I live with my parents, who have no money to help me, and I am afraid that I will not be able to afford college on my own. Who can get financial aid for college, and will I qualify without any established credit history?

A: Many individuals are eligible for some type of financial aid for college. However, the only way to find out if you qualify for federal financial aid is to complete a FASFA (Free Application for Federal Student Aid). Federal financial aid for college is based on financial need, and not credit, so having poor, little, or zero credit history will not harm your chances of receiving federal financial aid.

The most common forms of federal financial aid will be federal student loans and grants. FAFSA is your gateway to all federal financial aid for college, so you must file a FAFSA before the deadline (for the current academic year) to be considered for federal financial aid for college. After filing your FAFSA you will receive a Student Aid Report (SAR), which will list your EFC (Expected Family Contribution). Generally, the lower your EFC, the more financial aid you will receive. You can file a FAFSA at www.fafsa.gov.

In addition to federal financial aid for college, students should always apply for any scholarships they are eligible for. Scholarships provide you with free money for college, which will not have to be repaid. You can learn more about scholarships for college by viewing the following: 10 Easy Scholarships For College and How To Pay For College: A Step-By-Step Guide.