FINANCING YOUR EDUCATION
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COLLEGE 101 • SUMMER-FALL 2022
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here are a variety of ways to seforgiven,” Braswell says. “For example, with Getting accepted to cure financial assistance to help a nursing loan, if you agree to work in Ohio, fund your postsecondary educaa certain portion may be forgiven.” college is the first step, tion, ranging from grants to loans to Just be sure to familiarize yourself with scholarships. But navigating the unfamiliar any requirements that come with loan forbut it immediately raises landscape and figuring out what is best for giveness to make sure you are meeting the questions about how to pay necessary conditions. you can be intimidating. Loans are the most common way to fiare also many different avenues for it. Here is how to figure forThere nance your education and can come from seeking scholarships. You may have reputable sources like the state or federal heard stories about scholarships being ofout what kind of aid is government, but they must be repaid. The fered to people with certain interests or available to you. decision to take on such debt is a big one, who play a particular musical instrument, but there are also other ways to defray the and some of these quirkier scholarships reBY RUTH CORRADI BEACH quire a student to do some research to find cost of an education. Grants and scholarships — given by the and apply for them. federal government, the state, one’s school of choice or out“There really isn’t a one-stop shop to find everything side organizations — are based on both merit and need and you’re eligible for,” Braswell says, adding that students do not need to be repaid. It all can seem daunting, but there should research any organization offering a scholarship to is a clear starting point on this path. ensure it is legitimate. “The very first step for every student should be filling out Students should also check to to see what groups in their the FAFSA,” says Tamika Braswell, director of the office of community offer scholarships. Churches and local organizafinancial aid for the Ohio Department of Higher Education, tions often do, as do community foundations. Some scholarreferring to the Free Application for Federal Student Aid. ships are awarded in memory of someone and are given to “Students must complete that to qualify for federal, state and a recipient with similar interests or background. Even if the sometimes institutional aid, including the Pell Grant and scholarships seem small in dollar value compared to the total work study.” cost of an education, such financial assistance adds up. Depending on the school they choose to attend, students “Five hundred dollars here, $1,500 there,” Braswell says, often receive an award letter to let them know what they are “every little bit can count.” eligible to receive. That’s the basic overview of college financial aid, but there are, of course, many nuances to it. To complete the Free Application for Federal Student Aid, visit “In some situations, if certain criteria are met, loans can be studentaid.gov. For more information, visit itsforyou.org.
