Creating Your Paying for College Strategy

Of course you want to go to college, but how are you going to pay for it? Simple, by taking the right steps to having college paid for you. Start off by having a conversation with your family to find out how much they will be able to help you. Then follow the guide below and let your parents and counselors help you so that you can make your college dreams a reality.

EFC – Expected Family Contribution
Your Expected Family Contribution (EFC) is the amount of money your family can afford to spend on college each year and is determined when you fill out your FAFSA. A lot of factors go into determining your EFC, such as family income, family size, how many of your brothers and sisters are also in college, if any, family savings and so on. Typically, the lower your EFC the more financial aid you will get. 

Want to know how schools use your EFC number? Learn more and do the math. 

FAFSA – Free Application for Federal Student Aid
EVERY college bound student should fill out the FAFSA form regardless of your family income. The Free Application for Federal Student Aid (FAFSA) is a form required by the government to determine how much federal aid can be awarded to each student. 

Federal aid is the amount of loans and free grants that the government is willing to give a student based on their EFC. 

You don’t have to accept the loans offered to you, but you don’t want to miss out on the free grants they want to give you.

Nervous about filling it out? New Futuro can help; see how filling out your FAFSA is not as scary as you think it is and get step-by-step instructions on how to get it done. 

Scholarships – FREE Money
A scholarship is a monetary award granted to a student to pursue his or her studies. 

The best part about scholarships? You don’t have to pay them back! 

Your goal should be to get as many scholarships as possible so that you can pay for school and use whatever money is left over to pay for costs associated with school, such as books and even rent. Scholarships are usually awarded based on merit and good scholarly standing so keep your grades high and stay involved in your school and community! It’s a lot of work, but it’s a small price to pay for FREE money.

Get the low-down on scholarships so you can get to work!

Photo by Abel Arciniega

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