Financial Aid 101: 2013-2014 Academic Year

A postsecondary education is an investment in your future, and various forms of financial aid are available to help you pay for it.

Sources of Student Financial Aid

Basis for Awards

Free Application for Federal Student Aid (FAFSA)

What is included in the cost of attending a postsecondary school?

Your school will calculate your Cost of Attendance (COA) annually. The COA includes more than just tuition and fees that may be owed to your school. COA components include:

To help you better understand and compare postsecondary costs, the Consumer Financial Protection Bureau recently released an online College Cost Comparison tool.

Federal Financial Aid Programs

The U.S. Department of Education offers federal financial aid programs such as the Federal Pell Grant Program and federal student loans.

State Programs Administered by the Missouri Department of Higher Education

The MDHE administers many student grant and scholarship programs, including the scholarship component of the A+ Program. There are several additional student aid programs sponsored by the state of Missouri or other local organizations.

Student Loans

There are several different types of student loans, providing financing options for students and/or their parents. Some loans are based on financial need and some are not. Additionally, some student loans may require a credit check while others do not. If you decide to borrow a student loan, it is important to borrow as small amount as possible to keep your repayment after school manageable.

Before you sign, remember:

ALL STUDENT LOANS MUST BE REPAID!

Important Tips

Mapping Your Future

Questions?

Contact the Missouri Department of Higher Education for more information:

8 a.m. - 5 p.m. Monday - Friday
(800) 473-6757
(573) 751-3940
info@dhe.mo.gov