Fed Financial

How much financial aid do colleges normally give out?

I'm a junior in high school and I want to go to SMU. Its costs about $40,000 a year. There is no way my parents can pay all of that. Financial aid is so confusing to me. How much does a college offer in financail aid? And what about grants? How does someone go about getting one? Please help! Thanks!

Public Comments

1. You should really contact somebody in the Financial Aid office at the school you plan to attend to find out the answers to these questions.
2. Be prepared to borrow and always have a few fall back schools. Here is an example of a college "Award Letter" from SMU's website. Maybe that will help. Apply for scholarships early... start looking now. SMU's merit scholarship deadlines for this years seniors was Jan 15th. Very early.. good luck.
3. Is SMU a private school if so your in luck b/c they'll be more endowed by alumni and likely give out more scholarships. Also you need to fill out a FAFSA form and contact the college asap b/c once they give out the money it wont matter how bad you need it. If you dont get enough money you can proably get a loan from sallie mae that has low interest and you dont have to pay back till after graduation.