Grants
Grants generally do not need to be repaid, although eligibility, enrollment and other requirements may apply.
Gift aid
CampusGrader College Planning Resource
Financial Aid Guide for Students and Families
Understand grants, scholarships, work-study, student loans, college costs and financial-aid offers before deciding what a school may truly cost and how much borrowing may be required.
The Largest Aid Offer Is Not Always the Lowest-Cost Option
Colleges may present aid differently. Compare the full estimated cost, grants and scholarships, work-study, loans, family contribution and the amount that remains. Also verify which awards can be renewed after the first year.
Types of financial aid
Know What Is Included in the Offer
Aid packages may combine several kinds of assistance. Each category affects the student’s cost differently.
Scholarships
Scholarships may come from the college, government, employers, foundations or community organizations.
Check renewal rulesWork-Study
Work-study provides an opportunity to earn money through eligible employment rather than an automatic reduction to the bill.
Earned through workLoans
Loans are borrowed funds that generally must be repaid. Review the borrower, loan type, interest, fees and repayment terms.
Borrowed money
Financial-aid process
Move From Application to Final Comparison
Submitting the FAFSA form is an important step, but schools may request additional documents, corrections, verification or separate scholarship applications.
Review FAFSA Information1
Prepare Required Information
Gather the information required for federal, state and college-specific applications.
2
Submit the Correct FAFSA Form
Complete the form for the appropriate academic year and check the submission for missing or incorrect information.
3
Check State and College Requirements
Confirm deadlines, supplemental forms, verification requests and separate scholarship applications.
4
Review Every Offer Line by Line
Separate grants, scholarships, work-study, student loans, parent loans and any remaining amount.
5
Ask Before Accepting
Confirm renewal conditions, billing details, loan terms and how enrollment or housing changes could affect the offer.
Interactive comparison worksheet
Calculate the Real Cost of Three Colleges
Enter annual amounts from each financial-aid offer. The worksheet calculates gift aid, remaining cost, borrowing and simple four-year projections.
| Annual Category | |||
|---|---|---|---|
| Total estimated cost Tuition, fees, housing, food, books, travel and personal costs | |||
| Grants Federal, state, institutional or other grants | |||
| Scholarships College, private, employer or community awards | |||
| Work-study Potential earnings from eligible employment | |||
| Student loans Federal or private loans in the student’s name | |||
| Parent loans Loans offered to or expected from a parent borrower | |||
| Savings and family contribution Amount available without additional borrowing | |||
| Total gift aid Grants plus scholarships | $0 | $0 | $0 |
| Net price before work or loans Estimated cost minus gift aid | $0 | $0 | $0 |
| Annual borrowing Student loans plus parent loans | $0 | $0 | $0 |
| Remaining uncovered cost Cost left after entered aid, work, loans and family contribution | $0 | $0 | $0 |
Lowest annual net price
Enter amounts
Based on cost minus grants and scholarships.
Lowest annual borrowing
Enter amounts
Includes student and parent loans entered.
Lowest uncovered cost
Enter amounts
Amount still not covered by entered sources.
Lowest four-year borrowing
Enter amounts
Simple annual borrowing multiplied by four.
This worksheet is an educational estimate. Work-study earnings may
not be available before bills are due. Four-year projections do not
account for tuition increases, changing awards, interest, program
length or changes in enrollment, housing or personal circumstances.
One-Year Cost Is Only the Starting Point
Review the expected length of the program and estimate how tuition, fees, housing, transportation and financial aid may change. Ask whether scholarships remain fixed while college costs increase.
Estimate multiple years: Do not assume the first
year’s offer will remain identical.
Check renewal conditions: Confirm GPA, enrollment,
program and filing requirements.
Plan for indirect expenses: Include books,
transportation, supplies and personal costs.
Understand the loan type
Not All Student Loans Work the Same Way
Identify the borrower, interest treatment, fees, limits and repayment protections before accepting any loan.
Direct Subsidized Loan
A federal student loan for eligible undergraduate students with financial need.
- The student is the borrower.
- Eligibility requirements and annual limits apply.
- Confirm current interest and repayment terms.
Direct Unsubsidized Loan
A federal student loan for eligible students that is not based on demonstrated financial need.
- The student is the borrower.
- Interest can accrue while the student is in school.
- Annual and total borrowing limits apply.
Parent PLUS Loan
A federal loan that may be available to an eligible parent of a dependent undergraduate student.
- The parent is the borrower.
- Review credit requirements, fees and repayment.
- Do not list it as student borrowing.
Private Student Loan
A loan from a private lender with terms set by that lender.
- Rates may be fixed or variable.
- A cosigner may be required.
- Protections may differ from federal loans.
Questions before accepting
What Should Students Ask the Financial-Aid Office?
Direct questions can uncover costs, conditions or assumptions that are not obvious from the total award.
Questions About the Offer
- Which amounts are grants or scholarships?
- Which amounts are student or parent loans?
- Is work-study guaranteed or dependent on finding a job?
- Does this offer cover one year or multiple years?
- Are important fees or indirect expenses missing?
- What happens if housing or enrollment changes?
Questions About Renewal
- What GPA must be maintained?
- Is full-time enrollment required?
- Must financial-aid forms be filed every year?
- Can the award change if family finances change?
- Does the amount remain fixed after the first year?
- What review or appeal process is available?
Changed financial circumstances
Ask Whether an Aid Adjustment Review Is Available
When documented financial circumstances have changed, contact the college’s financial-aid office. The school can explain whether an appeal, special-circumstances review or professional-judgment process may apply.
Review Official Guidance01
Contact the School Directly
Ask what process the financial-aid office uses and which circumstances it can review.
02
Explain What Changed
Examples may include income loss, unusual expenses, family changes or information that no longer reflects the current situation.
03
Provide Requested Documentation
The school may request records that support the circumstances being reviewed.
04
Do Not Assume Approval
A review does not guarantee that eligibility or the aid offer will change.
Review borrowing carefully
A Loan Is Part of the Cost, Not a Discount
Borrowing can help cover educational expenses, but it does not reduce the college’s price. Review the amount borrowed each year, who is legally responsible and the possible total by graduation.
Confirm whether each loan is federal or private.
Identify the student, parent or cosigner responsible.
Review current interest rates, fees and repayment terms.
Estimate borrowing across the expected program length.
Consider likely income and other expenses after graduation.
Official planning resources
Verify Costs, Aid and Borrowing Information
Use official resources alongside financial-aid offers and direct conversations with each college.
Federal Student Aid
Review official information on the FAFSA form, grants, work-study, federal loans and managing federal aid.
Visit StudentAid.govCollege Scorecard
Review U.S. Department of Education data on college costs, completion, debt, repayment and post-college earnings.
Review College ScorecardCFPB Paying for College
Use consumer-focused resources for comparing offers, planning borrowing and understanding the financial path to graduation.
Review CFPB ResourcesCampusGrader College Guide
Review cost alongside academics, housing, safety, campus life and career support before choosing a school.
Read the College Guide
Financial-information notice:
Financial-aid rules, deadlines, award amounts, interest rates, fees
and loan terms can change. This page provides general educational
information and estimates, not individualized financial advice.
Confirm current information with Federal Student Aid, the college’s
financial-aid office and the appropriate lender before making a
financial decision.
Add student perspective
Help Students Understand College Cost and Value
Share an honest college experience covering affordability, financial pressure, academic value, housing, campus life and career preparation. Reviews are moderated before they affect public results.
Financial-aid FAQ
Common Financial-Aid Questions
What is the FAFSA form used for?
The FAFSA form is used to apply for federal student aid and may
also be used by states and colleges when determining eligibility
for certain programs.
Are grants and scholarships the same as loans?
No. Grants and scholarships are generally gift aid, although
requirements may apply. Loans are borrowed funds that generally
must be repaid.
Should work-study be subtracted from the college bill?
Work-study generally represents an opportunity to earn wages.
Confirm how jobs are obtained, when wages are paid and whether the
earnings are applied directly to the student’s bill.
What is net price?
For this worksheet, net price means the estimated annual college
cost minus grants and scholarships. It does not treat loans as a
price reduction.
Can a student ask for a financial-aid review?
A student can contact the college’s financial-aid office and ask
whether an appeal, special-circumstances review or professional-
judgment process is available. The college may require supporting
documentation, and a review does not guarantee a change.
Is the college with the biggest aid package always cheaper?
No. A larger package may include more loans or may be connected to
a higher starting price. Compare gift aid, net price, remaining
cost and borrowing separately.
Why should families estimate four years instead of one?
College costs, housing, personal expenses and financial-aid
amounts may change. A multi-year estimate provides a better view
of possible total cost and borrowing.