Hi folks, J.G. Wentworth here. In our most recent blog on how to pay for college, we talked about the FAFSA – the form all students must fill out to determine their eligibility to receive financial aid from the federal government. Unfortunately, many students do not also recognize that there are many opportunities to receive funding for their college education from state government as well.
Did you know there are as many as 605 state aid programs currently available? Whether you are attending college in your home state, or traveling out-of-state for your education, it is absolutely essential that you explore all your funding options which that state or educational institution provides. Here’s how:
1) Look up financial aid opportunities in your own state through NASFAA
The National Association of Student Financial Aid Administrators is just one resource to find state financial aid programs. According to their website, every state has at least one grant or scholarship available to residents – and most have many more. For more information, go to www.nasfaa.org/students/State_Financial_Aid_Programs.aspx.
2) Contact state higher-education agencies
The US Department of Education has a list of these state agencies at http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_ID=SHE.
3) Contact the financial aid office of the College or University you are applying to
Each college or university should have a financial aid office with extensive knowledge of all the state aid packages offered to their students. These offices should also have information on scholarship opportunities, as well.
4) Look up regional opportunities
Various regions in the country also provide unique opportunities for discounted out-of-state tuition, including the South, Midwest, Western region, and New England. Information for these programs and others can be found at http://www.nasfaa.org/students/State___Regional_College_Tuition_Discounts.aspx.
5) Do your own research, and stay diligent
Remember, this is your future – take control of it! The more access to financial aid you can find, the better off you’ll be, so be thorough about finding every resource you can that can help you offset today’s exorbitant costs of a higher education. Do everything you can now – so your debts can be as low as possible later. Believe me, it’s worth it!
At J.G. Wentworth – the nationwide leader in purchasing future structured settlement or annuity payments for cash now – we know that few things can provide as much peace of mind as financial security and fiscal independence. So if you have any questions about your own structured settlement or annuity plan, or are thinking about getting cash now in exchange for all or a portion of these payments, you can call one of J.G. Wentworth’s trained customer representatives at 877-227-4713.
Every individual’s financial situation is unique. J.G. Wentworth and its representatives do not provide financial, legal or tax advice. You should consult a qualified tax and/or legal professional for advice and information concerning your particular situation.