The majority of federal and state financial aid programs are decentralized to the higher education institutions. While the State Council of Higher Education for Virginia has administrative and financial oversight of state-funded financial aid programs, Virginia's participating institutions:
- Oversee the application process;
- Allocate awards to students; and
- Determine final eligibility for federal, state, and institutional financial aid.
The purpose of SCHEV's website is to provide to students and parents an overview of the different sources of available financial aid. For more specific information about federal, state, and institutional aid, please contact your college financial aid office.
Financial aid comes from many different sources and, in most cases, requires completion of at least the Free Application for Federal Student Aid (FAFSA). Visit SCHEV's Tuition & Aid section for additional information.
For most people, paying for college is a substantial investment. There are many tools to help you save money for college as well as ways to find available loans. Some of those tools are below. You also should talk with counselors at your school; they often have ideas and resources you will find helpful as you prepare your strategy to cover the costs of an education.
Here is a checklist of places to check for ideas and resources:
- College financial aid office - has information about financial aid programs available from the institution and state government.
- Internet - provides free electronic searches for information about different types of grants and scholarships available to students.
- Guidance counselors - offer information about financial aid programs available from your community.
- Libraries - have resource books with information about national financial aid programs.
- Employers - may provide educational assistance for employees.