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Paying for college 101: the basics of financial aid

08.12.2016 | By: Texas Wesleyan University
Your top-tier education from Texas Wesleyan is affordable.

College seems expensive – we know. But, did you know that more than 84 percent of Texas Wesleyan students get some sort of financial help to pay for school? That’s no joke. We’re about to give you the low down on the different kinds of financial aid and how to get them.

Apply for scholarships

First, there are scholarships. You’re awarded scholarships from Texas Wesleyan or private organizations. Different scholarships are awarded based on different criteria. Scholarship committees are looking at your financial situation, high school GPA, extracurricular activities, your SAT and ACT scores and more.

There are two great things about scholarships. First, you don’t have to pay back scholarships—it’s free money you get to put towards your tuition and fees. Second, when you apply to Texas Wesleyan, you’re automatically applying for our University scholarships. The sooner you apply to Texas Wesleyan, the more likely you are to get the help you need to pay for college.

Use money from the government

Every year, the government awards grants to students. Grants are awarded by the government based on your financial need, and, like scholarships, you don’t have to pay them back after graduation. You’re awarded money based on a lot of different factors and you apply when you fill out your Free Application for Federal Student Aid (FAFSA). The sooner you fill out your FAFSA, the better your chances of getting money to pay for college.

Apply for a work study job

It's a job on the same campus where you go to college. You request a work-study job when you fill out your FAFSA application. If you're awarded work-study, you have to talk to your on-campus office about different positions that are available. The money you make from work-study is not a payment to your student account like scholarships or grants. This type of financial aid helps you pay for everyday expenses while you're in college.

Take out student loans

And last, you can take out loans to pay for college. After you fill out your FAFSA, the federal government offers you loan amounts based on your financial situation. The best part about student loans is you don't have to start paying them back until after you graduate.

Talking about how much college costs is a little overwhelming, but don’t let sticker shock stop you. We have you covered. There are things you can do right now that will help you make college more affordable tomorrow.

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