Title: Explain how to apply for financial aid for post-secondary education and training.
Course: Economics and Personal Finance (19262-I) > Section: Financing Education after High School

Explanation should include the following for most federal, state, or institutional aid:

- Set up an account with Federal Student Aid (FSA) at https://studentaid.gov/to create an FSA ID, which will be the primary account for applying for and monitoring all federal aid.
- Complete the FAFSA at https://studentaid.gov/h/apply-for-aid/fafsa as soon after October 1 as possible.
- If the student is dependent, have a parent or guardian complete the FAFSA using their own FSA ID.
- For all institutions to which the student plans to apply, arrange to have the Student Aid Report (SAR) sent to the institution.
- Review the financial aid process and deadlines at each institution to determine if there are other applications to complete, such as the College Scholarship Service (CSS) Profile.
- Create a budget of all expenses and all available financial resources, such as savings, pre-paid plans, and outside scholarships to determine budgeted need.
- Review the Financial Aid Award Letter from the institution and decide what aid to accept and what aid not to accept based on budgeted need – gift aid such as grants, scholarships, and work study should be accepted and all self-help aid such as loans should be carefully considered against budgeted need and repayment requirements and interest.
- Contact the financial aid office at the institution for questions or to appeal the amount of aid awarded.