FAFSA (Free Application for Federal Student Aid)
The first step in aquiring loans is usually filling out the FAFSA (Free Application for Federal Student Aid). The government sends your FAFSA to the schools you apply to. Based primarily on financial need, your school will provide you with a financial aid package made up of loans, scholarships and (optionally) work-study.
The official deadline is usually July 2, but many schools ask you to fill it out earlier to be considered for more forms of aid.
Loans
Loans, though the easiest form of financial aid to get, are far from the best options available to you, so if you can get other forms of aid, take fewer loans and save yourself some debt. Several types of student loans are available:
- Federal Subsidized Loans - Lent to the student, no interest accrues while you attend school, a grace period follows the end of school before repayment begins.
- Federal Unsubsidized Loans - Just like the subsidized loans, only the loan accrues interest right away.
- PLUS (Parent Loans for Undergraduate Students) Loans - These federal loans are the responsibility of the parents only, and payment and interest accrual begin immediately after aquiring the loan.
- Private Student Loans - Offered by banks and finance companies, these loans generally offer higher limits than the Federal Student loans, but still offer the grace period after graduation.
Scholarships and Fellowships
Scholarships are preferable to loans in just about every way. The good news is you don't have to pay them back.
Not only that, but they usually don't require you to do anything other than your regular school work once obtained. The bad news is you have to do a lot more up front work to aquire one.
With all the scholarships out there, chances are you can land at least one. The question, then, is to find which ones you are
qualified for, and then to apply, apply, apply. Here's a little guide to get you started.
Getting Your Research Funded
If you are a graduate student, or even an undergraduate with a research opportunity, you can sometimes help fund your overall education by getting funding for the research you are already conducting. This is such a big subject, we have a whole page devoted to it.
Summer Internships
Not only do many internships pay, they are also a great addition to your resume! Opportunities can be found many ways:
- Go to your college's career center, or see if they have a summer internship office, or a co-op program.
- Attend career fairs on campus and off - don't forget your resume!
- Look through the local listings for companies you are interested in and contact them directly.
- Many Professional and Student Societies include internship listings for their members - check there, too.
GSI or TA Positions
Graduate Student Instructor (GSI) (also known as Teaching Assistant) positions are obtained through your school, usually through professors you know. Responsibilities focus around a single class and range widely, from reading papers to teaching the whole thing. Though most GSIs are graduate students (as the name applies), some positions are open to undergraduates who have taken and done well in the class. For tips on being a GSI, see this guide.
