What is Financial Aid & How do you apply?

What is Financial Aid?

• Financial aid is defined as any type of financial assistance obtained for the purpose of going to college. Financial aid is given to students in primarily two forms; scholarships or grants (assistance you do not have to pay back) or student loans (assistance you will have to pay back after graduation and usually with interest).

How do you Apply?

• Application for any type of financial aid begins with the Free Application for Federal Student Aid or more commonly known as the FAFSA.
• The FAFSA collects information about the student (and parents for dependent students) regarding income, number of family members, number of family members in college and plans for college and determines a level of financial need for the student and his or her family. It is this information that Columbia College uses to determine the amount of assistance provided to the student for their education.

How do I complete the FAFSA?

• Completing the FAFSA application is very easy and convenient. The application is online and you can complete at anytime from any computer. Every year the FAFSA application opens in January for the next academic year. For example, if you plan on attending in Fall of 2008 you may complete your FAFSA anytime after January 1, 2008. It is recommended that you do not complete your FAFSA any later than March 1 every year. This is because many types of assistance are time sensitive and also are limited in funding. Columbia College begins reviewing FAFSA's in March for the next academic year.
• When completing your FAFSA please make sure you have you and your student's previous year's tax information and that you have Columbia's school code (001665) for completion. When you have this information simply go Online and begin the process. When your process is complete Columbia will receive an electronic copy of your completed application from the federal government.

What do I do next?

• After successful completion of your FAFSA, Columbia College will send you an official Award Letter outlining your financial aid options within 7-10 business days. This will be mailed to you and will include your next steps in the process. Please remember that you also need to have an admissions application on file in Columbia College Admissions Office (Graduate or Undergraduate) to receive an Award Letter.
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