of the Department of Education, what impact will that have on me being able to get financial aid in 2 years. I am a Sophmore. I have a perfect gpa. I have worked hard to be the first in my family to go college. Will there be anything left by the time I go to college?
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Good evening Mary.Laney15. Awesome job on maintaining a perfect GPA! I am confident that your hard work will definitely pay off. In regards to the Department of Education, I understand your concern for student aid and I am happy to answer your questions.
The Department of Education currently claims that Federal Pell Grants and Student Loans will not be impacted by the shut down of the majority of its operations. However, it remains unclear as to who will manage student aid and whether or not loan forgiveness will be preserved. This a big concern for current and potential loan holders who worry that it will be more difficult to receive proper aid and/to pay off their loan debt.
Despite this uncertainty, there is still other sources of financial aid that will be available to you when you eventually go to college. Here are some of these sources:
Scholarships: Scholarships are not federally funded which means that the elimination of the DOE does not impact this. In addition, there are multiple platforms that hold thousands of scholarship opportunities and they are safe from government influence. Please check out the scholarships/grants page of our website for good scholarship database resources and scholarship opportunities.
CSS Profile: College Board's CSS Profile is very helpful in helping people receive non-federal institutional aid (Scholarships, university specific scholarships and grants, etc).
State Tuition Assistance: Many U.S. states offer in-state tuition assistance which can cover sometimes 75% to 100% of college expenses. However, this is only for residents. If your state has this form of assistance, you may be eligible for tuition assistance if you attend an in-state university. So, please check eligibility requirements if you are interested in this form of aid.
University-specific financial aid policies: Many universities offer financial aid policies that are willing to provide full tuition coverage to students who have an income within a certain margin. Please check your desired universities' financial aid policies to see if they offer full tuition coverage based on your income.
Loans: If there is a situation where you need a loan, do not worry. There are many loans that are not federally funded. These are known as private loans and you can find them through credit unions or student loan agencies. Some well known resources are Sofi, Sallie Mae and College Ave.
Do not be intimidated by these recent governmental actions. You must continue to focus on your goal of becoming the 1st in your family to go to college. Stay encouraged and remember to dream big and reach higher! 😊