Financial aid is usually awarded in a "package" that can consist of one or all of the following components:

• a scholarship or grant (usually directly from the university) which does not need to be repaid,
• a loan (usually from the federal government),
• and an on-campus job.

Distribution is based on financial need. Most financial assistance is administered through the financial aid office of individual colleges. Therefore, care should be taken to make application for financial aid at each of the colleges to which the student applies. In most instances this will require that the family file some combination of the following three forms:

1. Free Application for Federal Student Aid (FAFSA): The Federal government will process this form free of charge. Almost every college or university requires this form. It asks families to supply information about their income and assets and is most easily filled out using a completed tax return (questions will refer to specific lines of the 1040 or 1040A). The FAFSA will be available in early January of the senior year and may be filed electronically at www.fafsa.ed.gov.
2. College Board's PROFILE form: Most private colleges and universities require more information than the FAFSA can provide. Therefore, many of these schools will ask the financial aid applicant to complete the PROFILE. The PROFILE application consists of two parts: an initial registration form available in the Guidance Office (or online at www.collegeboard.com), which should be completed in the fall of the senior year, as soon as the student's list of colleges to which he or she will apply is finalized. The College Board will process the initial PROFILE registration form and will return to the family forms that have been customized to gather the information required by each of the schools listed on the initial form. Since the College Board is gathering this information on behalf of the participating schools, there is a processing fee of $18.00 per college listed, plus a one-time $5.00 service charge.
3. Institutional Forms: some colleges objected to the high fees associated with the PROFILE form, so they chose to request additional information using a form that they developed in-house. Be aware, however, that a few colleges require the FAFSA, the PROFILE, and their own institutional form! Because colleges often differ in their requirements to receive financial aid, students should contact the financial aid office at the schools they wish to attend to determine which forms are necessary and to request that these forms be forwarded to them.

In addition to money distributed by the Federal government or individual colleges and universities, all full-time undergraduate students, who meet the Florida residency requirements as defined by the Florida Department of Education, are eligible -regardless of family income- to receive financial assistance from the state. The William L. Boyd, IV, Florida Resident Access Grant (FRAG) provides tuition assistance to Florida undergraduate students attending an eligible private, non-profit Florida college or university. The amount varies from year to year, based on available funds. FRAG is a decentralized program, and each participating institution determines application deadlines and student eligibility. For a complete listing of eligible Florida colleges or universities visit: www.firn.edu/doe/bin00065/eliginstfrag.htm

Financial Aid Internet Resources

• College Board Online: www.collegeboard.com Your best on-line resource for: CSS Profile and the SAT...EXPAN database with ability to search for colleges based on up to 6 criteria...getting the most of your high school experience...list of loan sources with descriptions...financial aid calculators...over 300 applications available online...testing information...essay critiquing services...lists of available publications.
• FastWeb: www.fastweb.com Excellent private scholarship/grant search vehicle...students must create user ID and profile...request scholarship applications electronically.
• FAFSA: www.fafsa.ed.gov Submit the FAFSA via the web...avoids complications with the mail, filling out forms incorrectly.
• Finaid.org: www.finaid.org The "ultimate" guide to financial aid resources...links to any and all financial aid sites...easily navigated and sorted into list of financial aid topics.
• Nellie Mae: www.nelliemae.org Nonprofit provider of education loans...good information on the differences between private and federal loans...selecting the right loan for educational needs.
• ROTC: good source of information regarding ROTC scholarships, as self-described by each branch of the military.
  
  
  • Army: www.armyrotc.com
  • Navy: www.nrotc.navy.mil
  • Air Force: www.afrotc.com
• Sallie Mae: www.salliemae.com Financial aid calculators...how to find, compare and manage loans...information on loans as part of financial aid packages...frequently asked questions;
• U.S. Department of Education: www.studentaid.ed.gov Good overview of available federal financial aid.