Financial Aid Reflection

1. Federal Financial Aid- What are the different types of federal financial aid available to
students? How do you apply for federal financial aid? What benefits do students receive
from this type of financial aid?
Grants, Loans, Work-study. Most students apply for FAFSA.

2. State Financial Aid- What are the different types of state aid available to students? How
do you apply for state financial aid? What benefits do students receive from this type of
financial aid?
Grants, Scholarships, Work-study funds, State loans, Tuition assistance. You also have to apply
to be eligible.

3. School Specific Financial Aid- Which schools did you research? Describe one grant or
scholarship that is offered at each school. What benefits do students receive from this
type of financial aid?
Grants awarded based on merit or financial need don’t have to be repaid. Most schools have
scholarships.

4. Private Scholarships- Describe two scholarships that you found interesting during
your research. What are the benefits of using this type of aid to fund your education?
Schools that offer thousands of dollars are very interesting. Scholarships don’t have to be repaid
and private loans have variable APR, cosigner options, and allow you to build credit

5. Military Financial Aid- Do you or your family plan to or have served in the military? If
so, describe at least one military financial aid program that is available to you? What
benefits do students receive from this type of financial aid?
No one in my family has or has plans to serve in the military. Tuition Assistance pays for tuition
and required fees for active-duty enlisted service members to take classes at colleges and
universities during their off-duty time.

6. Personal Financial Aid Plan- After reviewing the different types of financial aid
available to students, what plan do you have for covering the costs of post-secondary
education? Write a paragraph that summarizes the total cost you expect to pay for
post-secondary education, the sources of aid you plan to use to cover these costs, and
when and how you plan to apply for each program. You may also need to consider
alternate sources of income such as a college fund or savings plan that has already been
set aside.
My family has agreed to help pay for my education. My grandfather is quite well off, so he has
no problem assisting me with paying it off. As for expected cost, my best guess for my
post-secondary education would range from 14-24 thousand for the 4 years it would take to
obtain my masters in psychology and counseling. I hope to get a job in order to start a savings
account, seeing as every adult I speak to recommends starting a savings account as soon as
possible.