As tuition to attend college rises, more and more students are turning to financial aid to assist with financing their education. There are many resources available for homeless and housing unstable youth to help them take the next step in their education.

There are a variety of types of financial aid for students to consider. College applicants can receive aid through the federal government, their state government, the colleges they apply to, or a private/non-profit organization. This aid can come in the form of grants, loans, scholarships, or work study.

FAFSA

To be eligible to receive financial aid from the federal government, all applicants must fill out a Free Application For Student Aid, or FAFSA. The FAFSA is a free application created by the Federal Student Aid, an office of the Department of Education. Using information from the FAFSA, Federal Student Aid assess’ individual need and provides over $150 billion to students through grants, loans, and work study. State governments and colleges also use the data from the FAFSA to determine whether they can provide additional aid. To begin your application, click here.

Before you fill out the FAFSA, make sure to check your dependency status. For students that are considered dependents of their parents, the FAFSA asks that you fill out your information as well as your parent’s. If you are, or consider yourself, an independent, there are separate steps to be taken that do not require any parental consent to apply. Unsure of your status? By following this guide, you can determine whether or not you are a dependent. If you need legal assistance on this matter, click here.

Grants and Scholarships

Grants and scholarships are a specific type of financial assistance that does not need to be re-paid.

Grants are primarily ‘need-based’, meaning that the amount given correlates with your financial need. For example, if a student’s parents have a low income, that student might receive a grant.

Popular Grants:

  • Pell Grant – A grant provided by the federal government, awarded to undergraduate students with financial need.
  • TEACH Grant – A federal grant that provides up to $4,000 per year to students who agree to teach for four years at an elementary school, secondary school, or educational service agency that serves students from low-income families and to meet other requirements.
  • FSEOG Grant – A federal grant for students with exceptional financial need. This grant can combine with a Pell Grant to further assist students who have the most financial need.
  • Iraq and Afghanistan Service Grant – A grant provided by the federal government. To be applicable, your parent or guardian must have been a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11.
  • To find more grants, click here!

Scholarships, like grants, are a type of aid that does not need to be paid back. However, scholarships are ‘merit-based’, meaning that the amount given is associated with your skills or ability. For example, if a student has good grades, they might receive a scholarship. Many National and Connecticut-specific scholarships are available to low-income students.

Possible Scholarships:

    • Dell Scholars Program – Through the Michael & Susan Dell Foundation, the Dell Scholars Program provides $20,000 to at-risk and in need of financial assistance winners over the course of six years, in addition to tutoring, networking and technology resources.
    • Frank W. Ross Memorial Scholarship Fund – In association with the Pride Foundation, this scholarship aims to provide funding for educational opportunities for low-income, at-risk or homeless LGBTQ youth.
    • Gates’ Millennium Scholars – Funded by the Bill & Melinda Gates Foundation, GMS provides scholarships for low-income, minority students. The 1000 annual scholarships may be awarded to African American, Hispanic, Native American, native Alaskans and Pacific Islanders and will supply winners a full-ride scholarship to college.
    • Horatio Alger Association – The Horatio Alger National Scholarship Program provides up to $22,000 in scholarship funds to students who demonstrate critical financial need and who have “faced and overcome great obstacles in their young lives.”
    • National Association for Education of Homeless Children and Youth (NAEHCY) – A minimum of two $1,500 scholarships are awarded annually to students who are currently struggling with or who have experienced homelessness in the past.
    • O Wines Opportunity for Success Scholarship – Next open in the 2016-17 academic year, this scholarship awards $20,000 over four years to low income, in-need, capable female students.
    • Simon Youth Foundation – SYF has awarded more than $9.6 million to at-risk youth pursuing secondary education since 2000.
    • S. Department of Health and Human Services – By providing funding to schools, the Scholarships for Disadvantaged Students program provides scholarships to full-time students of health profession and nursing programs coming from disadvantaged backgrounds.
    • Winners for Life – WFL offers around 50 scholarships each year for at-risk and underprivileged teens looking to pursue an education.
    • Pell Grant – A grant provided by the federal government, awarded to undergraduate students with financial need.
    • TEACH Grant – A federal grant that provides up to $4,000 per year to students who agree to teach for four years at an elementary school, secondary school, or educational service agency that serves students from low-income families and to meet other requirements.
    • FSEOG Grant – A federal grant for students with exceptional financial need. This grant can combine with a Pell Grant to further assist students who have the most financial need.
    • Iraq and Afghanistan Service Grant – A grant provided by the federal government. To be applicable, your parent or guardian must have been a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11.

To find more grants, click here!
State Programs + Resources
Federal Programs and Resources

Navigating Student Loans 

Student Loans can seem daunting, but its important to remember to think of it as an investment in your future. Seven in ten students graduating in 2012 had student loan debt.* There are a variety of ways to get a loan and many advisers and people you can go to for advice.

Federal loans are general direct loans through the U.S. Department of Education. To get answers on federal loans and how this process works, click here. Loans are typically made to eligible students who demonstrate financial need, but your university determines the amount you can borrow.

Need more help? Click here for a list of Frequently Asked Questions

School-Based Loans are loan programs for undergraduate and graduate students with exceptional financial need. Under this program, the school is the lender. Not all schools participate in this program, the Federal Perkins Loan Program, so you will need to check with the financial aid office.

Need more help? Click here for a list of Frequently Asked Questions

To compare the different types of Federal Direct Loans, click here.

Supplemental Links to Helpful Resources

*Source: http://ticas.org/sites/default/files/pub_files/Debt_Facts_and_Sources.pdf