A little bit yes. When you decide on the college you'd like to attend go through the administration office and find out where you go to fill out a student financial aid request form. They have them available at the college, usually at the financial aid office. Your eligibility will be determined by some formula the government uses to figure that stuff out and you'll get a letter telling you what you qualify for. It's based on your previous year's income and other factors. I think I got my letter from the school itself since I had already regeistered but I really don't remember. I got so much stuff around that time LOL.

The student loans you eventually have to pay back after you graduate. The grants are yours to use for tuition and expenses and don't have to be repaid, ever. Pell and federal are just differnt sources that grant money can come from. The key is, if it says grant in the name you don't have to pay it back!

Normally the school will offer you a financial aid package made up of loans, grants and maybe even some work on the campus. Different schools offer different packages so it helps to shop around the different schools if you can move and get accepted. Another type of financial aid that doesn't have to be repaid is scholarships if you can qualify for one. Some are based on highschool grades and things most older returning students can't get but there are a lot based on things like where you live or clubs you belong to that you'll never hear about unless you just get on the internet and do a search or check with college's financial aid office.

thanks GatorGal

Go here:

http://www.fafsa.ed.gov/

and fill out the information. They need to know all about your income and dependent status so be prepared with your tax returns in hand.

It takes a few hours to fill out the first time (you have to fill it out every year that you apply for aid, but it remembers you.) OH BTW, you can save information and return to complete at another time!

This site should be your first step in looking for financial aid. The deadline is past for this year, but it won't hurt to check it out and get yourself started on it for next year, also, schools will base your award from them on your FAFSA score so you hafta do it anyway.

If you plan to go to a two year school you might just want your tuition covered (if you're poor enough to qualify like me). This way you save your pell grant for when you go to the expensive four-year school.

I transferred from a California Community College to a four-year school.

I walked out of a 29-year marriage at 47. I went back to school at Eastern Illinois University. Had it not been for the wonderful people in the financial aid department, I probably never would have made it. Not all Financial Aid Departments are friendly. If they aren't, you have to get past that and not take it personally. It's an attitude that seems to pervade some. Be sweet, no matter what. They'll warm up to you and they really know where the money is buried. After qualifying I would go to my bank and they would loan me the money. You didn't have to buy your books there, either. For $60 a semester they rented all of them to you. Good luck!

Definitely completing the FAFSA form at the beginning of the year is the first step to getting the most of any aid that you might qualify for (even if you're not sure which college you are going to). Also, don't wait until you do your taxes to file the FAFSA-- just estimate them and send the form in as early as possible. You can add the actual tax forms later.

In general, a loan you have to pay back. Grants are better because they are free money as are scholarships.

It's also true that not all financial aid offices are created equaliy, but you should get advice from them, once you are narrowing down your decisions for schools. To start, check out their websites at the schools where you're interested.

Don't forget about state aid. Some states offer aid to their residents, in addition to the federal stuff.

I also recommend that you check out some websites on scholarships. There are many possibilities, if you take the time to do the research and apply.

Try this one to get started: www.fastweb.com

Best of luck in the process!

Financial aid at state-run institutions is entirely different than private colleges. If you are borderline and can't get help at a state-run university or college, try looking into private colleges. They are more expensive, but their money is private and not subject to federal guidelines which can't be flexed.

For my bachelor's degree, I had to leave a good state school for lack of funds but ended up finishing for FREE (as an independent adult) at a private college that negotiated a financial aid package for me with grants and scholarships. I refused to take out loans (all will push for that) and I was ready to walk if they didn't drop the loans. They gave in at the final stage of negotiation. Find a college that needs you for some reason. My brother (white) got a degree for free at a historically black college to help with their quotas. I was willing to have a roommate with disabilities (for whom I cared in exchange for room and board and which gave me the leverage needed in negotiations on tuition and fees). If you have excellent academic credentials, are going into a field that is in desperate need of graduates (lots of stipend programs out there) or have some other special contribution, you are well-positioned for a free education.

Make loans an option of last resort. With grants and scholarships and the right fit, you can graduate debt-free if you are willing to work hard.

@VeriSimilitude Thank you very much for the information. I think it will be very much appreciated