How Does Financial Aid Work?

If you are considering a career-focused educational path, but feel that the burden of tuition may be too much to take on, remember that many programs offer financial aid to students who need assistance.

how does financial aid work

At the Harris School of Business, we have a dedicated staff of financial aid advisors who help each student work through the various grant and loan possibilities as well as financing options. Don’t let questions or concerns about finances keep you from exploring your education opportunities!

How Does Financial Aid Work?

Step #1: Apply

After you complete your admissions application, your financial questions can begin to be answered. However, it is important that you first apply. The admissions departments at each of our campuses are open every weekday as well as on Saturdays for your convenience.

Step #2: Meet with a Financial Aid Advisor

Because there is some paperwork involved in the financial aid application process, many prospective students have questions about how to properly complete the forms, including the Free Application for Federal Student Aid (FAFSA). When you meet personally with a financial aid advisor, they will be able to thoroughly answer your question, “How does financial aid work?” They will also walk you through the paperwork and talk with you concerning your eligibility for certain types of assistance.

Step #3: Explore Your Financial Options

There are loans and financial assistance available both through government programs and private programs. Your financial aid advisor will help you work through many possible options, including some of the following:

Federal Student Aid

The Federal Student Aid (FSA) program is the largest source of the federal government’s financial assistance for post-secondary education. Grant and loan options through the FSA include Pell grants, PLUS loans, Stafford loans, and Federal Supplemental Educational Opportunity Grants (SEOG).

William D. Ford Federal Direct Loan Program (FDLP)

The US Department of Education distributes loans based upon need. Ask your financial aid advisor about more details. (Keep in mind, you must be at least a half-time student.)

Educational Tax-Payer Credits

When you attend Harris, you (or your parents) may qualify for several different tax credits. You can find out more about tax credits for education here: http://www.irs.gov/newsroom/article/0,,id=213044,00.html

Education Benefits Through the GI Bill®

To determine whether you qualify for VA benefits, contact the Veterans Affairs Office and request an application. For more information, visit the national web site at www.gibill.va.gov.

Payment Plan

Also, talk to your financial aid advisor about setting up a payment plan that will work with your budget. Many potential students don’t realize that with a flexible payment schedule, education truly can be affordable!

Remember, there are many options available. It just takes a little research to find the way that works best for you.

GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official U.S. government website at https://www.benefits.va.gov/gibill.