Federal and State Grants, Loans, and Work Study 5. This is the only money that you can truly count on for paying for college costs. And colleges expect that you will contribute some of your own resources, hopefully from these established college savings plans, toward the cost of your education. Remember, the only free money that you might get, meaning money that you do not have to pay back, will come in the form of scholarships or grants. Scholarships are for the truly gifted.
Grants are for the truly needy.
If you fall somewhere in between, then your family savings will surely be a factor in financing a college education. To help families plan for meeting college costs, the Glenbard South Guidance Department sponsors a Financial Planning Seminar for parents each year in November. In addition, the college may have its own financial aid form. Only by filling out all required forms will you be eligible for financial aid, so it is indeed a worthwhile, although time consuming activity. Nearly every department in the college offers several scholarships for students in their major.