[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.24.2″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_direction=”270deg” background_color_gradient_stops=”rgba(11,65,99,0.75) 0%|rgba(11,65,99,0.75) 100%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/fin-aid-basics-bg.jpg” custom_padding_tablet=”” custom_padding_phone=”11rem||1rem||false|false” background_last_edited=”on|phone” use_background_color_gradient_phone=”on” background_color_gradient_direction_phone=”180deg” background_color_gradient_stops_phone=”rgba(11,65,99,0) 0%|rgba(11,65,99,0.93) 73%” background_image_phone=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/fin-aid-basics-bg-mobile.jpg” background_enable_image_phone=”on” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.24.2″ _module_preset=”default” max_width=”1160px” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.6em” header_font=”|||on|||||” header_font_size=”23px” header_letter_spacing=”4px” header_line_height=”1.3em” header_2_font_size=”48px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”600px” module_alignment=”left” custom_margin=”||15px||false|false” border_color_all=”#ffffff” border_width_bottom=”1px” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.25.0″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.6em” link_font=”||||on||||” link_font_size=”19px” header_font=”|||on|||||” header_font_size=”23px” header_letter_spacing=”4px” header_line_height=”1.3em” header_2_font_size=”27px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”600px” module_alignment=”left” text_font_size_tablet=”17px” text_font_size_phone=”15px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”48px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n
Financial aid can be a big help in paying for college. An application for financial aid must be filed each year. Apply even if you think you will not qualify. Make sure that you meet the application deadline and that you give complete and accurate information on your application. Financial aid funds are limited and errors or missed deadlines may limit the amount of aid you receive.<\/p>\n
Learn More<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.6em” header_font=”|||on|||||” header_font_size=”23px” header_letter_spacing=”4px” header_line_height=”1.3em” header_2_font_size=”48px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”600px” module_alignment=”right” custom_margin=”||15px||false|false” border_color_all=”#ffffff” border_width_bottom=”1px” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.25.1″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.6em” link_font_size=”19px” header_font=”|||on|||||” header_font_size=”23px” header_letter_spacing=”4px” header_line_height=”1.3em” header_2_font_size=”29px” header_2_line_height=”1.1em” background_layout=”dark” max_width=”600px” module_alignment=”right” text_font_size_tablet=”17px” text_font_size_phone=”15px” text_font_size_last_edited=”on|phone” header_2_font_size_tablet=”48px” header_2_font_size_phone=”32px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n Most people use a combination of savings, income and loans to pay their college costs. Consider all your options before borrowing money that you will have to repay with interest over a specific time period. If you decide to borrow to cover part of your education expenses, educate yourself first and remember to maximize federal student loans before you take out private loans.<\/p>\n Learn More<\/a><\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ module_id=”financial-aid” _builder_version=”4.24.2″ _module_preset=”default” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” custom_padding_last_edited=”on|tablet” module_class=”custom_row” _builder_version=”4.23.1″ _module_preset=”default” custom_padding_tablet=”||0px||false|false” custom_padding_phone=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ module_class=”first-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/bright-young-grads-portrait-900px.jpg” background_position=”center_left” background_horizontal_offset=”36%” custom_padding_tablet=”23vw||23vw||true|false” custom_padding_phone=”23vw||23vw||true|false” custom_padding_last_edited=”on|tablet” border_radii=”on|20px|20px|20px|20px” global_colors_info=”{}”][et_pb_divider show_divider=”off” _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][et_pb_column type=”1_2″ module_class=”second-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” custom_padding_tablet=”4vw||||false|false” custom_padding_phone=”4vw||||false|false” custom_padding_last_edited=”on|tablet” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_font_size=”32px” header_2_line_height=”1.2em” header_3_font_size=”27px” header_3_line_height=”1.3em” max_width=”900px” module_alignment=”center” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”34px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|tablet” header_3_font_size_tablet=”27px” header_3_font_size_phone=”22px” header_3_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI0MTY4MSJ9fQ==@” url_new_window=”on” button_text=”Contact Us Today” button_alignment=”left” _builder_version=”4.25.1″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_bg_color=”#295876″ button_border_color=”#295876″ button_border_radius=”5px” button_font=”Source Sans Pro|700||on|||||” button_use_icon=”off” background_layout=”dark” locked=”off” global_colors_info=”{}” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”rgba(41,88,118,0.95)” button_bg_enable_color__hover=”on” button_border_color__hover_enabled=”on|desktop” button_border_color__hover=”rgba(41,88,118,0.95)”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” _builder_version=”4.23.1″ _module_preset=”default” background_color=”#efefef” custom_padding=”2rem||2rem||false|false” custom_padding_tablet=”0rem||||false|false” custom_padding_phone=”0rem||||false|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”1″ make_equal=”on” custom_padding_last_edited=”on|tablet” module_class=”custom_row” _builder_version=”4.23.1″ _module_preset=”default” width=”100%” max_width=”100%” custom_padding=”||||false|false” custom_padding_tablet=”0px||||false|false” custom_padding_phone=”0px||||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ module_class=”second-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” custom_padding=”|4rem||4rem|false|true” custom_padding_tablet=”3vw|4rem|5vw|4rem|false|true” custom_padding_phone=”7vw|2rem|0vw|2rem|false|true” custom_padding_last_edited=”on|phone” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_text_color=”#333333″ header_2_font_size=”37px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”700px” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Different colleges and universities require different financial aid applications. All use the Free Application for Federal Student Aid (FAFSA). Additionally, some use the CSS\/Financial Aid PROFILE\u00ae and the college\u2019s own financial aid application. Check the website for the schools you like to determine which forms you need to file and when they are due. Give yourself the time needed to fill them out. Waiting until the last minute may result in errors or delayed filing.<\/p>\n Before each year of college, apply for federal grants, work-study, and federal loans with the Free Application for Federal Student Aid (FAFSA\u00ae) form. Your college uses your FAFSA data to determine your federal aid eligibility. Many states and colleges use FAFSA data to award their own institutional aid.<\/p>\n Your aid offer explains the types and amounts of aid a college is offering you, and your expected costs for the year. If you\u2019ve been accepted to multiple colleges, compare the costs and aid offers. Accept the aid from the school that’s best for you and inform them of other sources of aid (such as scholarships) you expect to receive.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ module_class=”first-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2023\/12\/cheerful-group-friends-students-bg.jpg” custom_padding_tablet=”23vw||23vw||true|false” custom_padding_phone=”26vw||26vw||true|false” custom_padding_last_edited=”on|tablet” border_radii=”off|50px|||50px” border_radii_tablet=”off||30px|30px|” border_radii_phone=”off||30px|30px|” border_radii_last_edited=”on|tablet” global_colors_info=”{}”][et_pb_divider show_divider=”off” _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.23.1″ _module_preset=”default” background_color=”#0B4163″ custom_padding=”2rem||2rem||false|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”2_5,3_5″ use_custom_gutter=”on” gutter_width=”1″ make_equal=”on” _builder_version=”4.23.1″ _module_preset=”default” width=”100%” max_width=”100%” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_column type=”2_5″ _builder_version=”4.23.1″ _module_preset=”default” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2023\/12\/classmates-studying-bg.jpg” custom_padding_tablet=”23vw||23vw||true|false” custom_padding_phone=”23vw||23vw||true|false” custom_padding_last_edited=”on|tablet” border_radii=”off||50px|50px|” border_radii_tablet=”off||30px|30px|” border_radii_phone=”off||30px|30px|” border_radii_last_edited=”on|tablet” global_colors_info=”{}”][et_pb_divider show_divider=”off” _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.23.1″ _module_preset=”default” custom_padding=”2vw|4rem|2vw|4rem|false|true” custom_padding_tablet=”3vw|4rem|5vw|4rem|false|true” custom_padding_phone=”7vw|2rem|0vw|2rem|false|true” custom_padding_last_edited=”on|phone” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_font_size=”37px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”700px” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Determine what forms and deadlines are required at each of the schools you are considering.<\/p>\n File the FAFSA. This may be done each year beginning October 1.<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.27.5″ _module_preset=”default” text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_font_size=”37px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”700px” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|phone” custom_css_free_form=”a {|| color:#ffffff;||}” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_font_size=”37px” header_2_line_height=”1.2em” header_3_font_size=”26px” header_3_line_height=”1.2em” background_layout=”dark” max_width=”700px” custom_margin=”||2rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Once you have been accepted for admission and have filed the necessary financial aid applications, you will get a financial aid award letter from the college. Review the award letters you receive and ask the campus financial aid office for clarification if you need it. Be sure to let the financial aid staff know if your family\u2019s financial situation changes.<\/p>\n Check out the CHESLA Loan if you find that you need additional funding to pay your bill.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/www.campusdoor.com\/CHESLA\/StudentLoans\/productselection.aspx” button_text=”Apply Now” _builder_version=”4.25.1″ _module_preset=”default” custom_button=”on” button_text_color=”#0b4163″ button_bg_color=”#ffffff” button_border_color=”#ffffff” button_border_radius=”5px” button_font=”Source Sans Pro|700||on|||||” button_use_icon=”off” background_layout=”dark” locked=”off” global_colors_info=”{}” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”#ffffff” button_bg_enable_color__hover=”on” button_border_color__hover_enabled=”on|desktop” button_border_color__hover=”#ffffff”][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.23.1″ _module_preset=”default” custom_padding_tablet=”” custom_padding_phone=”1.5rem||||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row custom_padding_last_edited=”on|tablet” _builder_version=”4.23.1″ _module_preset=”default” custom_padding=”||1rem||false|false” custom_padding_tablet=”||0rem||false|false” custom_padding_phone=”||0rem||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_text_color=”#333333″ header_2_font_size=”37px” header_2_line_height=”1.2em” text_orientation=”center” background_layout=”dark” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ custom_padding_last_edited=”on|phone” _builder_version=”4.23.1″ _module_preset=”default” max_width=”1366px” custom_padding_tablet=”” custom_padding_phone=”1rem||||false|false” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_text_color=”#333333″ header_2_font_size=”37px” header_2_line_height=”1.2em” header_3_text_color=”#333333″ header_3_font_size=”26px” header_3_line_height=”1.3em” text_orientation=”center” background_layout=”dark” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” header_3_font_size_tablet=”26px” header_3_font_size_phone=”22px” header_3_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_toggle title=”How do I know which financial aid applications are required at my prospective colleges and universities?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]Every college and university has different requirements for which financial aid applications need to be filed. Three of the most common forms are the Free Application for Federal Student Aid (FAFSA), the CSS\/Financial Aid PROFILE\u00ae, and the college\u2019s own financial aid applications. Check with each of your prospective colleges for their specific application requirements.[\/et_pb_toggle][et_pb_toggle title=”How much does it cost to apply?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]The FAFSA is a free application, and is required by all colleges for federal and state financial aid. The CSS\/Financial Aid PROFILE\u00ae has a cost associated, but the application fee may be waived for families with high financial need.[\/et_pb_toggle][et_pb_toggle title=”My financial aid applications are due before I was able to file my taxes. What can I do?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]If your federal tax forms will not be completed before the earliest college deadline, you’ll need to submit estimated numbers. The colleges will base their tentative financial aid award on your estimates. You may update your financial aid applications once you\u2019ve completed your federal taxes. The award won’t be considered final until you have produced final tax documents.[\/et_pb_toggle][et_pb_toggle title=”Whose information is included on the FAFSA?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n Most high school seniors are considered dependent students and are required to provide parental information along with their own. Parents may be biological or adoptive, and further instructions differ depending on the family situation:<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”How is real estate included on the FAFSA?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]The family\u2019s primary residence is not included on the FAFSA, but any other property is considered an asset. In the case of a multi-family unit, where the family lives in one of those units, the net value (market value of the property minus any debt) of the rental units would be reported as assets.[\/et_pb_toggle][et_pb_toggle title=”How are college savings accounts treated?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n College savings accounts are reported as assets of the owner. If the owner is a dependent student, the accounts are reported as the parent’s assets.<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”Where do I enter my debt information?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]Consumer debt (credit cards, auto loans, etc) and lines of credit (unused, available credit) are not factored into the calculation of financial aid eligibility. If, however, a family is reporting information about home equity, then they would factor in the balance on any home equity lines of credit when calculating the net equity in the property.<\/p>\n Keep in mind that the FAFSA does not ask any questions about the primary home. If parents decide to pursue a parent loan to help finance their share of the educational expenses, then the lender would access the borrower\u2019s credit record to determine eligibility for educational loans. But colleges themselves do not access or use this information when preparing a financial aid award.[\/et_pb_toggle][et_pb_toggle title=”Why do I need a PIN for the FAFSA?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n Your PIN, also known as a FSA ID, acts as an electronic signature that is used for verification upon completing your FAFSA online. All contributors will need to have their own FSA ID.<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”Do I have to file the CSS PROFILE\u00ae online?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]If the CSS PROFILE\u00ae is required by your college, it must be filed online.[\/et_pb_toggle][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_text_color=”#333333″ header_2_font_size=”37px” header_2_line_height=”1.2em” header_3_text_color=”#333333″ header_3_font_size=”26px” header_3_line_height=”1.3em” text_orientation=”center” background_layout=”dark” custom_margin=”||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” header_3_font_size_tablet=”26px” header_3_font_size_phone=”22px” header_3_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_toggle title=”Is it true that the most expensive colleges offer the most financial aid?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n All colleges and universities, regardless of their cost, offer financial aid, and some are even able to meet your full need. While the cost of attendance varies from college to college, keep in mind that different financial aid awarding policies make it difficult to predict which college will be the most affordable for your family.<\/p>\n [\/et_pb_toggle][et_pb_toggle title=”If I get an outside scholarship, will a college reduce my financial aid?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]You MUST report scholarships to colleges and universities. Colleges will include them as part of an overall aid package such that the student\u2019s total aid does not exceed the cost of attendance. (By law, the cost of attendance is the maximum amount of aid a student can receive, regardless of the source.) The treatment of outside scholarships varies by institution so be sure to ask the financial aid office how it will affect your aid package.[\/et_pb_toggle][et_pb_toggle title=”Should I pay a financial aid consultant to help me?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n Most financial aid professionals and school counselors recommend not paying for services related to financial aid. Information about finding scholarships, applying for aid, and completing applications is available for FREE. See your high school counselor about local financial aid resources.<\/p>\n [\/et_pb_toggle][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_text_color=”#333333″ header_2_font_size=”37px” header_2_line_height=”1.2em” header_3_text_color=”#333333″ header_3_font_size=”26px” header_3_line_height=”1.3em” text_orientation=”center” background_layout=”dark” custom_margin=”3rem||1rem||false|false” header_2_font_size_tablet=”37px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|phone” header_3_font_size_tablet=”26px” header_3_font_size_phone=”22px” header_3_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_toggle title=”What should I expect once I file the FAFSA?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]<\/p>\n Soon after you file, you will receive a FAFSA Submission Summary. When the college receives your FAFSA, the financial aid office will review your information and determine what financial aid they can award you. The college may request certain documents as part of their verification process of the information you provided on the FAFSA. Keep copies of all your year-end documents.<\/span><\/p>\n [\/et_pb_toggle][et_pb_toggle title=”When should I expect to see my financial aid award letters in the mail?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]Many colleges send financial aid award letters to accepted applicants throughout March and April. These letters indicate the types and amounts of financial aid a student can expect to receive if they attend that particular college or university.[\/et_pb_toggle][et_pb_toggle title=”Once I get all my financial aid award letters, what should I do?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]Carefully review each award letter and make sure you understand all aspects of your award, including the types and sources of aid. Contact the financial aid office if you need more information or clarification about their offer, and be sure to communicate with the college if your financial situation changes.[\/et_pb_toggle][et_pb_toggle title=”How do I let colleges know once I\u2019ve made a decision about where to enroll?” icon_color=”#5F8BB2″ _builder_version=”4.23.1″ _module_preset=”default” title_text_color=”#333333″ title_font_size=”17px” title_line_height=”1.5em” body_text_color=”#333333″ body_font_size=”16px” body_line_height=”1.6em” custom_margin=”||1rem||false|false” global_colors_info=”{}”]Most colleges and universities have a deadline of May 1, and require a deposit to confirm your commitment. You should also notify the financial aid office at your chosen college that you accept any financial aid offer you have received from them. If you wish to decline or reduce the amount of an offer, loan, or work-study job, be sure to inform the financial aid office. Once you have firmly decided which college you will attend, you need to formally decline your acceptances from other colleges.[\/et_pb_toggle][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” module_id=”student-loans” _builder_version=”4.24.2″ _module_preset=”default” use_background_color_gradient=”on” background_color_gradient_direction=”98deg” background_color_gradient_stops=”rgba(11,65,99,0) 0%|rgba(11,65,99,0.93) 74%” background_color_gradient_overlays_image=”on” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/student-loan-basics-header-bg.jpg” background_position=”top_center” background_vertical_offset=”27%” custom_padding_tablet=”” custom_padding_phone=”11rem||1rem||false|false” background_last_edited=”on|phone” use_background_color_gradient_phone=”on” background_color_gradient_direction_phone=”180deg” background_color_gradient_stops_phone=”rgba(11,65,99,0) 0%|rgba(11,65,99,0.93) 73%” background_image_phone=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/student-loan-basics-header-bg-mobile.jpg” background_enable_image_phone=”on” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_font_size=”17px” text_line_height=”1.6em” header_font=”|||on|||||” header_font_size=”23px” header_letter_spacing=”4px” header_line_height=”1.3em” header_2_font_size=”48px” header_2_line_height=”1.2em” background_layout=”dark” max_width=”600px” module_alignment=”right” custom_margin=”||15px||false|false” border_color_all=”#ffffff” border_width_bottom=”1px” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.23.1″ _module_preset=”default” custom_padding=”2rem||||false|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”3_5,2_5″ make_equal=”on” custom_padding_last_edited=”on|tablet” module_class=”custom_row” _builder_version=”4.23.1″ _module_preset=”default” custom_padding_tablet=”||0px||false|false” custom_padding_phone=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_column type=”3_5″ module_class=”second-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” custom_padding_tablet=”4vw||||false|false” custom_padding_phone=”4vw||||false|false” custom_padding_last_edited=”on|tablet” global_colors_info=”{}”][et_pb_text _builder_version=”4.23.1″ _module_preset=”default” text_text_color=”#333333″ text_font_size=”16px” text_line_height=”1.6em” header_2_font=”|600|||||||” header_2_font_size=”32px” header_2_line_height=”1.2em” header_3_font_size=”27px” header_3_line_height=”1.3em” max_width=”900px” module_alignment=”center” custom_margin=”||2rem||false|false” header_2_font_size_tablet=”34px” header_2_font_size_phone=”28px” header_2_font_size_last_edited=”on|tablet” header_3_font_size_tablet=”27px” header_3_font_size_phone=”22px” header_3_font_size_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Fixed vs. Variable Interest Rate:<\/strong> Fixed interest rates do not change over the life of a loan, which means you pay the same amount each month. Variable interest rates change over time in line with market interest rates.<\/p>\n Annual Percentage Rate (APR):<\/strong> The APR reflects the total cost of borrowing money over the life of the loan, considering not only the interest rate but also the effect of other fees on the total cost of repaying the amount financed.<\/p>\n Immediate or Deferred Repayment:<\/strong> The interest rate of your loan may vary depending on whether you repay the loan immediately or wait until after graduation to start repaying.<\/p>\n Tiered Pricing:<\/strong> Tiered pricing means that interest rates depend on your credit. The advertised lowest interest rate may only be available to those with exceptional credit, and higher rates and fees may apply to those with fair to average credit ratings.<\/p>\n [\/et_pb_text][et_pb_button button_url=”@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9wYWdlIiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjI0MTY4MSJ9fQ==@” button_text=”Contact Us Today” button_alignment=”left” _builder_version=”4.25.1″ _dynamic_attributes=”button_url” _module_preset=”default” custom_button=”on” button_bg_color=”#295876″ button_border_color=”#295876″ button_border_radius=”5px” button_font=”Source Sans Pro|700||on|||||” button_use_icon=”off” background_layout=”dark” locked=”off” global_colors_info=”{}” button_bg_color__hover_enabled=”on|hover” button_bg_color__hover=”rgba(41,88,118,0.95)” button_bg_enable_color__hover=”on” button_border_color__hover_enabled=”on|desktop” button_border_color__hover=”rgba(41,88,118,0.95)”][\/et_pb_button][\/et_pb_column][et_pb_column type=”2_5″ module_class=”first-on-mobile” _builder_version=”4.23.1″ _module_preset=”default” background_image=”https:\/\/chesla.org\/wp-content\/uploads\/2024\/02\/bright-young-grads-portrait-900px.jpg” background_position=”center_left” background_horizontal_offset=”36%” custom_padding_tablet=”23vw||23vw||true|false” custom_padding_phone=”23vw||23vw||true|false” custom_padding_last_edited=”on|tablet” border_radii=”on|20px|20px|20px|20px” global_colors_info=”{}”][et_pb_divider show_divider=”off” _builder_version=”4.23.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Financial Aid BasicsWhen other sources of financial aid don’t meet or cover your unique needs, CHESLA can help! Financial aid can be a big help in paying for college. An […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-241865","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nStudent Loan Basics<\/h1>\n
What to Know Before You Borrow a College Student Loan<\/h2>\n
Types of Financial Aid<\/h2>\n
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The Aid Process<\/h2>\n
Applying for Aid<\/h2>\n
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Your Aid Package<\/h3>\n
Financial Aid FAQs<\/h2>\n
Applying for Financial Aid<\/h3>\n
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General Questions<\/h3>\n
After You Apply<\/h3>\n
Student Loan Basics<\/h1>\n
The following are some important concepts to understand when evaluating college loans:<\/h3>\n