identify your options

Simplifying the Search

Start your search at the financial aid office of your future college or university. Talk to the financial aid administrator about student aid available from the federal government, your state government, the school itself, and other sources.

In addition, take advantage of these basic tips and scholarship scam alerts to help avoid trouble and simplify your search for financial assistance.

Financial aid tips

Get a headstart on your financial aid search with these recommendations:

• Explore your options early. And pay close attention to deadlines. Look through scholarship and grant directories. And turn to the Internet for even more info.
• Don't count yourself out. If you think you'll need financial aid, apply for it.
• Read the Free Application for Federal Student Aid (FAFSA). Pick up a copy at high schools, financial aid offices, career centers, libraries, or FAFSA on the Web.
• Complete the FAFSA accurately and completely. Be sure you and your parents sign it before mailing, if required. Make copies of everything.
• Submit your FAFSA before the postmark deadline. Get a Certificate of Mailing as evidence everything was sent on time.
• Review your Student Aid Report (SAR) carefully. You should receive it within four weeks after filing your FAFSA. By filing your FAFSA early, you'll have time to review the SAR and make any corrections.
• See what your school offers. If youre still applying for schools, be sure to ask about scholarships and other financial aid programs available at each college or university. Some deadlines may be earlier than the FAFSA deadline.
• Leave loan options for last. Consider grants and other financial aid you don't have to repay before applying for a student loan. Accepting a loan means accepting the responsibility of repaying it. Also, research military and veterans' benefits, college fee waivers, and special tuition payment plans.
• Look into federal student loan programs. Note: For most loans, you must first file the FAFSA.

Excerpted from "Fund Your Future," prepared by the California Student Aid Commission and EDFUND.

Scholarship scams

The Federal Trade Commission cautions students to look for promises that may suggest a scholarship scam:

1. "The scholarship is guaranteed or your money back."
No one can guarantee that they'll get you a grant or scholarship. Refund-guarantees often have conditions or strings attached. Get refund policies in writing—before you pay.

2. "You can't get this information anywhere else."
There are many free lists of scholarships. Before you decide to pay someone to do the work for you, do some research at your school or library.

3. "May I have your credit card or bank account number to hold this scholarship?"
Don't give out your account numbers on the phone without getting information in writing first. It may be a setup for an unauthorized withdrawal.

4. "We'll do all the work."
Don't be fooled. There's no way around it—you must apply for scholarship grants yourself.

5. "The scholarship will cost you some money."
Don't pay anyone who claims to be "holding" a scholarship or grant for you. Free money shouldn't cost a thing.

6. "You've been selected by a 'national foundation' to receive a scholarship," or "You're a finalist in a contest" you never entered.
Before you send money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.

Excerpted from "Six Signs that Your Scholarship Is Sunk," prepared by the Federal Trade Commission.