Your Guide to Financial Aid

Paying for college? That can feel like one giant question mark. If you're a high school senior or a parent in Humboldt, chances are you've heard about financial aid, but figuring out where to begin is a different story. There’s a lot of information out there, and it can get overwhelming fast. But with a little clarity, this process becomes much more manageable...and even encouraging. That's because there are so many options out there for support and help!

Everything starts with the FAFSA. That’s short for Free Application for Federal Student Aid, and it's the key to unlocking nearly all forms of college funding. It opens each year in December, and the earlier you complete it, the better. You’ll need to gather some information like your Social Security number, tax documents, and basic financial details. While that might sound intimidating, local schools often offer FAFSA nights or individual help sessions. Don’t be afraid to ask your counselor if you’re unsure where to start. That’s what they’re there for.

Once you submit the FAFSA, it gets reviewed to determine what kinds of aid you qualify for, including grants. Grants are a wonderful thing. They don’t need to be repaid and are typically based on financial need. You might be eligible for a Federal Pell Grant, which many students across the country receive. And here in Iowa, the Iowa Tuition Grant is a fantastic state-based option for those attending private colleges. These awards are applied automatically if you qualify, so your only job is to get that application in on time.

Scholarships are another big part of the picture. While they’re also money you don’t have to pay back, they usually require an application, and sometimes an essay, a resume, or a letter of recommendation. Start by looking close to home. Many organizations in Humboldt offer scholarships specifically for local students. From service clubs to community foundations to local businesses, you’d be surprised how many opportunities exist right in your backyard. Your school counselor can usually give you a list, and the Iowa College Aid website is also packed with helpful leads.

Now let’s talk loans. They can be a smart tool if used responsibly, but they’re not free money. The most important thing to know is the difference between federal and private loans. Federal loans come through your FAFSA and generally offer lower interest rates and more flexible repayment terms. These should always be your first option if you need to borrow. Private loans, which are available through banks or lenders, tend to have higher interest rates and fewer protections, so it’s best to explore them only after you’ve looked at every other option. It's also important to look into what your repayment rates may be. 

If all this feels like a lot, take a deep breath. Iowa has some incredible resources to help you through it. Iowa College Aid is a great place to begin if you’re searching for financial support or need help comparing schools. ICAN, the Iowa College Access Network, is another free service that offers one-on-one appointments, both in person and virtually, to guide families through the entire college planning process.

Planning for college is a big deal, but you don’t have to figure it all out overnight. Start with what’s in front of you. Ask questions, write down your deadlines, and don’t hesitate to lean on the people who are cheering you on. Whether you're headed to a big university or a small private school, there’s financial support out there for you—and you are more than capable of finding it!