There’s almost $200 billion in financial aid available to undergraduate college students every year*. And some of that can be yours.
How to Apply for Financial Aid
- Visit the financial aid page of every college’s website where you plan to apply. Write down the required financial aid applications and deadlines.
- Complete and submit the FAFSA® at studentaid.gov. You’ll need your parents to help. The FAFSA typically becomes available on October 1st in the academic year before you begin college. However the FAFSA will not be available until approximately December 1, 2024 for families completing the 2025-26 application.
- Complete and submit any other required financial aid application. The CSS Profile™ is a popular one.
- Make sure to APPLY ON TIME!
Where to Go If You Need Help
- Attend a free FAFSA Day event from October to February for one-on-one-assistance
- Reach out to your School Counselor
- Contact MEFA with your questions at (800) 449-MEFA (6332) or info@mefa.org
Kinds of Financial Aid Awarded
- Merit-based aid is given to students who demonstrate a certain achievement, perhaps academic, athletic, or artistic
- Need-based aid is given to students who demonstrate their need for financial help based on their family’s finances
Types of Financial Aid
- Grants & scholarships are free money that doesn’t have to be repaid
- Work-study is a part-time work program on college campuses
- Student loans must be repaid after graduation or leaving school
How to Get a Financial Aid Estimate
Every college and university has a Net Price Calculator where you can input some general information about your family (it’s anonymous) and receive an estimate of your financial aid at that school. Just search for “Net Price Calculator” in the search bar on each school’s website.
More Financial Aid Information
- You can learn more details on the financial aid process here.
- For specific information on federal financial aid, go here.
- For details about Massachusetts state financial aid, go here.
*The College Board, Trends in Student Aid