🔎 Watch a CrashCourse video about How to Pay for College.

Starting with the charges:

• Tuition & Fees: the cost of classes and registration fees (and so many other little fees)

• Room & Board: your dorm room, if you live on campus, and your meal plan. 

• Indirect Costs: textbooks, school supplies, transportation, off-campus food, etc.

All the Ways to Pay:

1. Scholarships & Grants

Think of these as discounts; gift money that does not have to be repaid. These are awarded for various reasons by multiple sources.

• • Need-Based: Grants awarded based on your family's financial situation. Requires completion of the Free Application for Federal Student Aid (FAFSA), which is used by the Federal and State Governments, colleges, and scholarship organizations to determine need.

🔎 Learn more about the Michigan Achievement Scholarship, including the Community College Guarantee available to all recent Michigan graduates.

 🔎 Learn more about the Federal Pell Grant.

• • Academic: Scholarships awarded by a college based on your High School GPA or SAT/ACT Score.

  • Athletic: Scholarships awarded by a college for past athletic achievements or for committing to play at that college.

  • High School/Community: Many high schools and communities have their own scholarship funds that they award to students in various categories.

  • Colleges: Just like high schools, colleges also have additional scholarship opportunities.

  • National/Third-Party Scholarships: There is an endless supply of scholarships you can apply to, each with its own requirements. 

🚩 You should never have to pay to access scholarships. 

2. Military Dependents

In addition to funding for service member to attend college, resources also exist to support their dependents.

🔎 Learn about resources for children of service members.

3. College Savings

If you are lucky, you or your family has been able to save some money to help pay college expenses. 

4. Loans

Borrowed money that must be repaid with interest, offered by the Federal Government and independent banks.

1. • Federal Subsidized/Unsubsidized Loans: If you need student loans, start here. Federal student loans usually have the lowest interest rates. Subsidized just means they won't charge you interest while you are still enrolled in college; unsubsidized loans accrue interest from the start.

   • Parent PLUS Loans: A student loan that parents can borrow from the Federal Government to help their child pay for college. This requires a credit check and is legally the responsibility of the parent to pay back.

🔎 Learn more about Federal Student Loans.

1. • Private Student Loans: There are many student loan options. Do your research comparing the interest rates and payments. If your family has a trusted bank, you can also start there.

⚠️ If you need private loans, it's worth researching more affordable college options or contacting your preferred college's financial aid office.

Can a part-time job pay for college?

If you are attending college full-time, you can work part-time, or vice versa. College is a full-time job; watch out for burnout.

🔎 Federal Work-Study funds part-time jobs available to students based on financial need, with payments made directly to the student throughout the school year. 

Full-Time vs Part-Time Student

The number of credits you are enrolled in each semester can impact how much aid you qualify for. 

This falls into three brackets: 

• full-time (12+ credits)

• part-time (6-11 credits)

• less than part-time (less than six credits)

⚠️ Make sure you know the requirements for any aid you receive; this may include GPA standards, full-time status, or other requirements.

🚩 Parents without an SSN are still able to complete the FAFSA for their child; however, families with mixed immigration status need to consider the risks of providing personal information to the Federal Government.

Quick vocab lesson.

• FSA ID: Your account on studentaid.gov, the website where you will complete the FAFSA each year. Your FSA ID is linked to your Social Security Number (SSN).

⚠️ In most cases, one parent will also need their own FSA ID.

• SAI (Student Aid Index): Formally known as the Estimated Family Contribution, this calculation standardizes financial need; used by colleges, governments, and scholarship organizations to distribute aid as needed.

• FSS (FAFSA Submission Summary): After your FAFSA is processed, you will receive a full summary of the Federal aid you qualify for. Your State and College-awarded aid information will come some time later in the form of an Award Letter; you will receive one for every college you were accepted into.

Which FAFSA year do I need?

The year needs to match the college school year; if you plan to start college in the fall of 2026 (or spring of 2027), you'll need the 2026-2027 FAFSA.

How do I prepare for the FAFSA?

Start by creating your FSA ID. You will need access to your email and your SSN. It takes approximately three days for your account to be verified; afterwards, you can begin the FAFSA process and utilize the IRS data retrieval tool.

✅ Create your FSA ID

🔎 Watch a walkthrough of creating an FSA ID.

The FAFSA uses the 2 years prior tax information; the 2026-27 FAFSA will use 2024 taxes. Thankfully, in most situations, you will not need to drag out your old tax documents; the FAFSA now receives your information directly from the IRS.

🔎 Learn about IRS Consent and Approval.

How do I fill out the FAFSA?

The questions are pretty straightforward, and help comments are provided throughout the form. 

Both the student and parent(s) need to complete and submit their portion before it can be processed. It is best to complete the process together to avoid confusion; altogether, it will take about an hour.

⚠️ The 2026-27 FAFSA will be open on October 1, 2025.

✅ Start the FAFSA

🔎 Watch a walkthrough of the 2026-27 FAFSA.

How do I get help completing the FAFSA?

🔎 Contact your adviser! I'm happy to meet with you and your family, virtually or in person, to complete the FAFSA. 

How do I know if my FAFSA has been submitted?

The student will receive an email after all parts have been submitted; this email might include an estimated SAI.

The student will also receive an email when their Submission Summary is ready. 

✅ Log in to your account and carefully review the full summary, as there may be additional tasks to complete.

What happens after my FAFSA is truly complete?

The information will be sent to all the colleges you specified when completing the FAFSA. You can also return to your account later and add more schools.

After you have been accepted and the college has received your FAFSA information, the financial aid office will use that data to build your aid package and send you an Award Letter outlining the cost of attendance, awarded scholarships/grants, recommended federal loans, and any remaining out-of-pocket costs.

Think of these Award Letters as contractor bids; each one is providing a service and telling you what it will cost for one year.

⚠️ Comparing Award Letters is one of the most crucial steps; it could mean the difference of paying thousands more a year.