Financial Aid for College - Lake Washington High School

Seniors, after filing your FAFSA, be on the lookout for the Student Aid Report (SAR). You should receive the SAR within three days for online submissions and three weeks for a mailed-in signature page. A SAR is a summary of the FAFSA information a student submitted. If you are ineligible for federal aid, you should complete the WASFA. Occasionally students who submit a FAFSA or WASFA application may be asked for additional information (verification).

Don't Delay! Complete your 2023-24 FAFSA & WASFA Today!

It is important that the FAFSA (citizen or eligible non-citizen) / WASFA (undocumented) is completed as early as possible so you do not miss out on financial aid that you may be eligible for. Be sure to visit the school’s website for deadlines.

Every student should apply regardless of income. Some schools do not be offered merit aid if you do not fill out a FAFSA.

Need help applying for financial aid? Check the College & Career Center Calendars for upcoming events to help guide you through the process or email Nichole Swanger, College & Career Guidance Specialist, nswanger@lwsd.org.

SOURCES

Sources of Financial Aid

Financial aid can come from several sources:

Federal: This is from the US Department of Education and can be used at most colleges in the US. They have to be able to receive financial aid. Students can take to another state.
State: For example, Washington State financial aid is for residents to attend colleges in WA. They do not necessarily have to be public colleges, but they have to be able to receive state financial aid. There are currently over 60.
College: Every college will have its own scholarships, etc that they offer to students who are going to their school.
Organizations: These tend to be scholarships (organizations) or private loans (banks).

State

Even if you're not eligible for federal aid, you might be eligible for financial aid from your state.

Washington state financial aid is for residents to attend colleges in WA. They do not necessarily have to be public colleges, but they have to be able to receive state financial aid. There are currently over 60.

These are examples of state financial aid programs that WA residents who are eligible can use in WA at eligible colleges –

Washington College Grant (formerly the State Need Grant) - Largest, income-based grant. The amount depends on what type of school (out of the over 60) you attend.
College Bound Scholarship: This is an early commitment of state financial aid to cover certain college costs. Students must have signed up in middle school.
State Work-Study: Similar to the federal program but the funding comes from Washington State versus the federal government.
Passport to Careers: a program that provides additional resources for both former foster youth and unaccompanied homeless youth (https://www.wsac.wa.gov/sites/default/files/Passport.Student.FAQs.pdf)
Opportunity Grant: to attend a 2-year community or technical college

College/University

Many schools offer financial aid from their own funds. Find out what might be available to you:

Visit your college's financial aid page on its website or ask someone in the financial aid office.
Ask at the department that offers your course of study; they might have a scholarship for students in your major.
Fill out any applications the school requires for its own aid, and meet the deadlines.

Federal

There are several types of federal financial aid. Students need to be U.S. citizens or eligible non-citizens (i.e. permanent residents with a Green Card as an example) to apply.

Pell Grant: The largest income-based grant. The maximum amount for 2022-23 was $6895.
Work-study: Students can work on campus and their salary is paid from the Dept. of Education to their on-campus employer and then the employer pays the student. Not all on-campus jobs require a student to be part of the work-study program.
Loans: Both these are in the student’s name. The difference is that with Unsubsidized student loans the student will ultimately pay the interest accrued once they graduate and/or leave college. Subsidized student loans – the government pays or subsidizes the interest. Parent loans: Would be taken out by the parent to pay for the student’s expenses.
Parent loans: Would be taken out by the parent to pay for the student’s expenses.

Private

TYPES

Types of Financial Aid

Loans

Work Study

Work-Study is a need-based program that helps builds students’ skills, increases their earnings, and reduces reliance on student loans.

Federal Work-Study - provides part-time employment while the student is enrolled in school to help pay his or her education expenses. The student must seek out and apply for work-study jobs at his or her school. The student will be paid directly for the hours he or she works and the amount he or she earns cannot exceed the total amount awarded by the school for the award year. The availability of work-study jobs varies by school.

State Work-Study - qualifying students to get an approved job, on- or off-campus, to support their education. The state contributes to the wages of work-study employees, so participating employers' benefit from educated, motivated workers at a lower cost. Many employers hire work-study employees on a permanent basis after graduation. Work-study contributes to economic growth by creating jobs and adding experienced, high-skilled college graduates to the state’s workforce.

Scholarships

They don't need to be repaid.
There are thousands of them, offered by schools, employers, individuals, private companies, nonprofits, communities, religious groups, and professional and social organizations.
Students are encouraged to apply for local, state, and community scholarships through the LWHS Scholarship page.
Scholarships are awarded based on merit, ethnic background, community service, leadership, and personal interests regardless of financial need.
Students should be searching and applying for scholarships while they are applying to colleges.
Most colleges have scholarship money that they give out on a first come, first-serve basis for students who meet specific academic requirements. Check with the colleges you are applying to for specific institutional scholarships.

Washington State Scholarships include:

Grants

A grant is a form of financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation).

A variety of federal grants are available, including:

Pell Grants
Federal Supplemental Educational Opportunity Grants (FSEOG)
Teacher Education Assistance for College and Higher Education (TEACH) Grants
Iraq and Afghanistan Service Grants.

Washington State grants include:

Washington College Grant is available to low-income undergraduate students.

APPLYING FOR FINANCIAL AID

Free Application for Federal Student Aid (FAFSA)

Apply for federal student aid using the Free Application for Federal Student Aid (FAFSA®) form. And remember, the first F in “FAFSA” stands for “free”.

All students must fill out the FAFSA (www.fafsa.ed.gov) to qualify for the four types of federal aid: grants, loans (both parent and student loans), work-study positions, and need-based scholarships. You are encouraged to fill out the form regardless of family income level and apply as soon after October 1st as possible to take advantage of state and federal monies given on a first come first serve basis.

NEED HELP?

Federal Student Aid Information Center (FSAIC):

Email: studentaid@ed.gov
Call: 1-800-4-FED-AID or 1-800-730-8913 (TTY) for the deaf or hard of hearing.

Washington Student Achievement Council's (WSAC) Otterbot:

Otterbot is a free texting service designed to help Washington students navigate financial aid for college and career education.
Students can access Otterbot via text message 24/hours, 7/days a week by texting "Hi Otter" to 360-928-7281.

For more information go to: https://wsac.wa.gov/otterbot

Washington Application for State Aid (WASFA)

The Washington Application for State Financial Aid (WASFA) is for people who don’t file a federal FAFSA application. People who complete a WASFA are applying for state aid. There are various reasons to complete a WASFA instead of a FAFSA:

A person may not be eligible for federal aid due to:

Citizenship or immigration status, including being undocumented.
Defaulted federal student loans.
Repayments owed on federal grants.

A person may choose not to apply for federal aid due to:

Family members who do not want to file the FAFSA.
Other personal reasons.

After you complete the WASFA, the college(s) or program(s) you choose will determine whether you meet state residency requirements and state financial aid eligibility. State financial aid could include Washington College Grant, the College Bound Scholarship, Passport to Careers, National Guard Grant, or State Work Study.

To confirm that the WASFA is the correct application for you click here.

NEED HELP?

Student Financial Assistance at the Washington Student Achievement Council (WSAC):

Email: finaid@wsac.wa.gov
Call: 888.535.0747 (option 3)
Website: https://wsac.wa.gov/financial-aid.

Washington Student Achievement Council's (WSAC) Otterbot:

Otterbot is a free texting service designed to help Washington students navigate financial aid for college and career education.
Students can access Otterbot via text message 24/hours, 7/days a week by texting "Hi Otter" to 360-928-7281.
For more information go to: https://wsac.wa.gov/otterbot

CSS Profile

The College Board’s CSS/Financial Aid PROFILE® is an online application that collects information used by almost 400 colleges, universities, professional schools, and scholarship programs to award financial aid from sources outside of the federal government. After you submit your application, the College Board sends it to the colleges and scholarship programs you have chosen.

Click HERE to find out more about the CSS Profile and to submit an application.

Who must submit the Profile Application?