Even though the start of classes is quickly approaching, it isn’t too late to get help with your college costs this fall. You can still apply for federal financial aid; actually, students can apply for aid up through the last day of classes in each semester of the academic year.
Don’t hesitate to apply for financial aid, even if you don’t think you will qualify. It’s simple: Just submit the Free Application for Federal Student Aid, or FAFSA.
Enroll at least part time and you will qualify for low-interest, federally guaranteed student loans. You may also be eligible for need-based federal college work-study or for federal grants. The Pell Grant has been increased to a maximum of $5,350 for the 2009-10 academic year as part of the economic stimulus bill—and, as a grant, this does not have to be repaid. Federal loans may also be forgiven for students who enter certain professions or who participate in specified service programs such as AmeriCorps. You also can be paid for your work on campus or at nonprofit organizations through the Federal Work-Study Program, plus you’ll gain valuable career skills and build your professional network.
Make sure you plan ahead: Look NOW for scholarship opportunities for both the next semester and the next year. Be ready in January 2010 to file your FAFSA for the following 2010-11 academic year so that you qualify for even more aid. The deadline for Maryland academic scholarships is March 1 for the upcoming academic year. Institutional grants and scholarships may be available to you in future terms if you apply early for the 2010-11 academic year.
