By Trent Moore

trentm@cullmantimes.com

There are a lot of options out there to help pay for college, the only problem is that many students may not know where to look.

Wallace State Director of Financial Aid Becky Graves said anyone planning to further their education should start by asking themselves one question: “How am I going to pay for this?”

The three basic types of assistance available to pay for college include scholarships, grants and loans.

Wallace State and other colleges offer various scholarships based on academics and community service already, but Graves said there are more local options beyond that many students don’t know about.

“There is a lot of money out there to help,” she said. “In addition to scholarships offered by the school, there are also a lot of cash scholarships awarded in the community.”

Graves recommended checking with local civic and service organizations such as the Kiwanis Club and Lions Club, which often award annual college scholarships.

In addition to community organizations, Graves said many employers have programs to help pay for college.

“Check where your parents work and see if they offer any scholarships,” she said. “If you already have a job, ask your employer if they have any type of program to pay for an employee to go back to school.”

Scholarship money awarded to a student does not have to be paid back.

Another option is a government pell grant based on financial need, family size, income and how many family members are currently attending college. Grants, which do not have to be paid back, are awarded at different amounts depending on eligibility.

The government decision to award a pell grant depends on many variables, and all a student has to do to be eligible is fill out a Free Application for Federal Student Aid (FAFSA). Though filling out the form does not guarantee a grant will be awarded, Graves said it is worth the effort, even if the student only gets a small amount.

“Every student should file one,” she said. “You never know if you’re eligible until you try.”

For recent advanced diploma high school graduates, an Academic Competitiveness Grant (ACG) can help give their pell grant a boost. Graves said students should check with the financial aid office to see if they are eligible.

Different grant options also exist specific to certain majors, such as nursing. Graves said students should sit down with their advisor to see what is available.

Graves said some people that have been laid-off from work recently may also be eligible for grant money, and should visit the financial aid office to see if their situation applies.

Financial aid is also available for veterans based on the soldier’s service record and if they paid into the GI Bill. Graves recommended any local veterans interested in learning about their eligibility visit the local Veteran’s Affairs office.

“The veteran would just need to take their DD214 (military discharge papers) to the Veteran’s (Affairs) office and they could pull up their service record and see if they’re eligible,” she said.

Thanks to the state government, financial aid for seniors 60 years of age or older is also available, which pays for college tuition.

If a student is ineligible for government aid and is not awarded a scholarship, Graves said there is one other option.

“We do offer student loans as well, but I don’t like for students to take out loans unless it’s absolutely necessary,” she said.

Stafford Federal Student Loans, which must be paid back upon college graduation, are also available to help students pay for college. The loans can be subsidized, which means they are interest-free while in school, and unsubsidized, which means they have a fixed interest rate of approximately 6.4 percent, depending on credit and eligibility.

Graves said the fact that a student can have more than one type of aid is something many have a hard time understanding.

“There’s a lot of misinformation out there when it comes to financial aid,” she said. “If you’re getting money from one place you can still get some from somewhere else. Sometimes it’s money coming from a lot of different places that pays for an education.”

In addition to researching it themselves, Graves said she recommends prospective students speak with either a high school guidance counselor, or someone that works at a college financial aid department to learn the basic facts about paying for college and what programs they may be eligible for.

The Wallace State Financial Aid Department is open year-round.

Graves said it’s never too early to start looking for scholarships and applying for government pell grants.

“Come in now,” she said. “We’re already processing aid for the fall semester.”

Registration for classes in the fall semester at Wallace State begins July 21.

Graves said the school has recently made it a priority to educate students about loans, grants and financial planning by adding a new session to the voluntary Lion’s Pride summer orientation for new students. She said they have also added a money management section to the mandatory freshman orientation class.

It may take some effort, Graves said, but if a student is willing to try they can almost always find a way to further their education.

“There are ways to pay for college out there,” she said. “All you have to do is just look and try.”

More information about the FAFSA can be found at http://www.fafsa.ed.gov. More information about government financial aid can be found at http://studentaid.ed.gov. More information about the Wallace State Financial Aid Department can be found at http://www.wallacestate.edu/finaid.html.