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Financial Aid InformationFinancing Your Higher EducationWhether you're planning to go to college, technical college, or trade school, you need to consider what your education will cost and how you'll pay for it. Don't rule out a school based on cost alone. Student financial aid programs are available to help students with the costs of higher education. Although some financial aid program awards are based on academic achievement, athletic skill, musical ability, or some other type of special talent, many awards are based on financial need. Financial need is usually calculated by subtracting the annual amount the family is expected to contribute from the total annual cost of education. The expected family contribution is determined by applying a comprehensive formula to information submitted by the student and parents or spouse on a need analysis form. All Alabama postsecondary schools require students to complete the Free Application for Federal Student Aid (FAFSA) to determine their level of need and eligibility for several major state and federal aid programs. You should contact the financial aid office of the school you plan to attend to make sure you've completed all required applications. That office is the best source of information regarding student financial aid for which you may qualify. When you're ready to make definite plans, get up-to-date cost figures from the school you plan to attend. Depending on the financial aid packages, it's possible for you to pay the same amount to go to a high-cost college as you'd pay to go to a lower-cost school. Be sure to use the Package Evaluation to compare the financial aid packages you're offered by the schools you're considering. |
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