Financial aid is money that helps students pay for college. There are several types of financial aid –
Scholarships and Grants – Money that doesn’t have to be repaid.
Loans – Money that must be repaid, with interest.
Work Study- Money that’s earned while attending school and that doesn’t have to be repaid.
Financial aid awards may include a combination of the various types of aid. The amount of financial aid that a student receives is determined through federal, state and institutional guidelines.
How To Receive Financial Aid?
You must submit the Free Application for Federal Student Aid (FAFSA) to receive any federal student aid. The FAFSA is also required for the District of Columbia Tuition Assistance Grant (DCTAG) and colleges’ institutional financial aid. Usually, the FAFSA opens on October 1. Additionally, some colleges may require you to submit the CSS Profile to apply for institutional financial aid. The CSS Profile also opens on October 1. Check with your colleges about any additional applications and deadlines. Finally, eligible DCPS students should also apply for DCTAG. DCTAG provides up to $10,000 per year toward the difference between in-state and out-of-state tuition at public colleges and up to $2,500 toward tuition at private colleges in the immediate DC region and private HBCUs nationwide. The DCTAG application opens in February.
