|In general there are two categories of financial aid: merit based and need based. Colleges offer competitive, merit based awards for a variety of talents including athletic, artistic, and academic. Some colleges are now rewarding community service. You do not have to be financially needy to receive these awards; you just need to demonstrate the required talent or interest. Most colleges announce their various merit award programs in their application packets. The college counseling office receives announcements for many small, community-based scholarships, and we make these available to students.|
Need based financial aid is a far more common, and you gain access to those funds by filing in January the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service "Profile" if needed. Colleges that admit you will then respond to your request for aid with a financial aid package that is typically composed of grants, loans and work-study, depending on your level of need. It is important that you discuss all this information with your parents.
Each year St. Edward has available the services of a financial aid advisor from the nonprofit organization College Now Greater Cleveland to work with seniors and their parents..The advisor is at St. Edward High School one day each week from January through May. The advisor's schedule is available at the St. Edward High School guidance web site.
A financial aid awareness program is held each May and a FAFSA workshop is conducted each January to assist parents with the financial aid process.