STEP 1: What is Financial Aid?
Financial aid is the money you receive from a variety of sources to cover the cost of your education. The good
news is that, regardless of income, most people are eligible for some form of financial aid. The financial aid sources available to a student attending college in Kansas include:
Grants
A grant is a need-based form of financial aid that does not have to be repaid. Grants are generally provided by individual states or the federal government and include:
- Federal Pell Grants:
This is the most common form of federal aid. They are need based, provided by the federal government and awarded by schools.
- Federal Supplemental Educational Opportunity Grants (FSEOG):
These grants are awarded by schools and provide assistance for undergraduates with the greatest financial need.
The program gives priority to students who receive Federal Pell Grants.
Loans
A loan is a form of financial aid that must be repaid with interest. The main loan options are student loans, parent loans, and private loans. Federal programs for loans include:
- Federal Perkins Loans:
These are available to students who demonstrate the most serious financial need. They are federally funded and awarded by
the school. Generally, these loans have the best terms and conditions; however, they are usually small in amount due to limited funds.
- Federal Stafford (Subsidized and Unsubsidized) Loans:
These loans are awarded on the basis of financial need and are regulated by the federal government. Students may be borrowing from a bank, a credit union, or directly from the government.
A subsidized Stafford Loan is the loan of first choice, since the government pays the interest while students are in school.
Students who do not qualify for a subsidized Stafford Loan may take out unsubsidized Stafford Loans. These students are responsible for paying the interest while still in school, but may postpone payment of interest and principal until after graduation. Any unpaid interest is capitalized once repayment begins.
- Federal PLUS Loans: These loans are for parents of
undergraduate students. They are based on credit history and require a credit check. The interest
rate is low and repayment begins within 60 days after the disbursement of funds to the parent.
Scholarships
Scholarships are a form of aid to help you pay your undergraduate tuition. Like grants, they do not have to be repaid. Generally, scholarships are reserved for students with special qualifications, such as financial need and/or academic, athletic, or artistic talent.
Institutional scholarships can be based on financial need, academic ability, or outstanding talent. Many are offered by private colleges and universities, though thousands of private scholarships are also available from other sources. To find out more about these scholarships visit your high school guidance counselor, college financial aid office, the Internet, your local library, or with the KansasMentor scholarship search
Work Study
Work study provides students with employment opportunities both on and off campus. Participation in a work-study program is typically based on the student's financial need. Funding for work-study programs can come from either the federal or state level:
- Federal Work-Study Program:
This program allows students to subsidize their tuition and expenses with on-campus jobs. To be eligible, applicants must demonstrate financial need.
- State work-study programs work the same as the federal program, the only difference being the source of funding.
Benefits for Specific Groups and Other Options
There are several financial assistance programs benefiting specific groups. Getting creative with your options may also help in paying your way through college.
For more information, visit frequently asked questions about financial aid or the Federal Student
Financial Aid Homepage.
KANSAS STATE PROGRAMS
In addition to the programs above, Kansas has several programs available to its residents and students.
For Parents and Students: State Financial Aid Awards
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Kansas Comprehensive Grants: Kansas Comprehensive Grants are available to needy Kansas residents enrolled full time at 17 private colleges and universities located in Kansas, the six state universities, or Washburn University. The Kansas legislature provides limited assistance to financially needy students. To be considered you must complete and submit the FAFSA, listing one or more eligible colleges in the FAFSA. The priority receipt deadline is April 1, 2009 so the completed FAFSA should be mailed by March 15, 2009. The funding level allows about 1 in 3 eligible students to be assisted with award amounts ranging from $200-$3,000 at the private institutions and $100-$1,100 at the public institutions.
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Undergraduate Scholarships: Kansas Ethnic Minority Scholarship, Kansas Teacher Service Scholarship, Nursing Service Scholarship, State Scholarship
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State-Funded Graduate Programs: Kansas Osteopathy Scholarship, Kansas Optometry Scholarship, Kansas Dentistry Assistance, James B. Pearson Fellowship, Kansas Distinguished Scholarship Program
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Vocational Scholarship
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Kansas Learning Quest Education Savings Program
The Learning Quest Education Savings Program was created by the 1999 Kansas legislature. Learning Quest, a 529 college savings plan, offers education savings accounts to help you pay higher education expenses for individuals you designate or for yourself. The program also provides tax advantages under both Kansas and federal law.
For Parents and Students: State Financial Aid Eligibility Criteria
Program Criteria, Deadline, Valid Application, Common Criteria, Application Summary, Use of FAFSA, Mailing Instructions, Follow Up
For Parents and Students: A List of State Financial Aid Assistance Offices
For an alphabetical, searchable database of financial aid assistance offices, please click here.
STEP 2: STUDENT LOANS >>>
Step 2 
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