1. Overview of Financial Aid

2. Types of Financial Aid
Scholarships or Grants: Money that does not have to be repaid or earned; it is sometimes to as “free money.” Scholarships and grants are available based on the student’s financial need (need-based) or based on the student’s academic achievements or special talents (merit-based).

3. Loans
Loans: Funds that must be repaid either in cash, usually with interest, or through service. Loans made with a service option usually require that the student repay the load after graduation by working a specified number of years in a particular field. These are called (FELS or Forgivable Educational Loan Service) Loans that must be repaid with cash usually begin repayment after the student is out of college.

4. Work Study
Funds that a student earns through a job on or off the college campus. The student has the opportunity to work and earn money to assist with the expenses associated with college.

5. Applying for Financial Aid (after October 1)
To be considered for financial aid, students must apply using the Free Application for Federal Student Aid aka FAFSA . ( By filling out the FAFSA, you will be considered for all types of federal financial aid. It is important to complete this form before the deadlines published by the college you wish to attend. Families are able to use tax information from 2016 to verify income.

6. Applying for Financial Aid
All students who want to be considered for financial aid should complete the FAFSA; however, some colleges and universities, as well as some separate scholarship programs, require additional forms. Students should check with the college they wish to attend to see if there are additional forms to be completed. (UNC Chapel Hill requires the SAR report in addition.)

7. Financial Aid Resources
After the FAFSA has been submitted, the college(s) that the student listed on FAFSA will receive an estimate of how much the student’s family can pay toward the cost of college. The financial aid office will use that information to put together a financial aid “package,” consisting of one or more grants, scholarships, loans, and/or work opportunities to help cover the difference between what it cost to attend the college and what the family can pay. Students will be notified of the type and amount of each source of aid and information about how to receive the funds.

8. Local Scholarships
In many communities, local service clubs, civic organizations, employers, churches and others have college scholarships available. Wheatmore High School post all scholarships on our webpage under Warrior Guidance- Scholarships. It is important to pay attention to the deadlines the scholarships have.

9. Scholarship Search Links

10. CFNC
The best and most comprehensive online source for free financial aid information for North Carolina residents is College Foundation of North Carolina, CFNC.org. The website also provides comprehensive information to help students plan for and apply to college.