If your family does not have all of the financial resources that you need to pay for college costs, you may be eligible for financial assistance to help you meet the cost of attending college. Learning about the many financial aid programs that are available will start you on your way to success.

While the student’s family is expected to pay for educational expenses to the extent they are able, the United States government has committed financial resources to assist needy students in paying for their education.

How do I apply for FAFSA? (external link)

How do I apply for NYS TAP? (external link)

What Types of Financial Aid Are Available?

There are two basic categories of student financial aid: need-based aid and non need-based aid.

Need-based Aid

When students do not have sufficient financial resources to pay for their education beyond high school, they are generally considered to have “financial need.” Having financial need is the primary requirement for receiving need-based aid, although students must meet other eligibility criteria as well. Whether or not you and your family have sufficient resources to pay, the cost of sending you to college is usually determined by collecting financial data about you and your parents, and having that data analyzed. In other words, you must show that you and your family do not have enough money to pay for all of your college expenses, and that you have “need” for financial assistance.

Non Need-based Aid

Non need-based aid is often referred to as merit-based aid and is frequently awarded to students in recognition of special skills, talents, or academic abilities. Qualifications for non need-based aid are usually competitive in nature, and recipients are chosen because of their superiority in whatever criteria are used for selection. Non need-based aid may also be awarded based on criteria such as field of study, community service, leadership abilities, athletic ability, ethnicity, or religious background. Most merit aid does not require students to demonstrate that they have financial need.