Last updated: October 2026
College, trade school, and career training can open doors, but the cost scares many people away before they ever look at their options. Federal student aid includes grants that don't have to be paid back, work-study jobs, and loans. Filling out one free form, the FAFSA, is the key to most of it.
Start with the FAFSA
The Free Application for Federal Student Aid (FAFSA) is used by the federal government, most states, and most colleges to decide what help you get. Fill it out at StudentAid.gov. It's free. If a website asks you to pay to file the FAFSA, you're in the wrong place.
- Apply early. The FAFSA usually opens in the fall for the following school year. Some state and school aid is first come, first served, so filing early can mean more money.
- Create your StudentAid.gov account first. If you're a dependent student, a parent will need their own account too.
- File every year you're in school.
- Need help? Your high school counselor or a college financial aid office can walk you through it for free. You can also call the Federal Student Aid Information Center at 1-800-433-3243.
Free money first: grants and scholarships
- Pell Grants go to students with financial need and don't have to be repaid. Starting in 2026, Pell Grants can also help pay for some short-term job training programs.
- State grants are offered by every state, often using the FAFSA. Check your state's higher education agency for deadlines.
- College grants and scholarships come from the schools themselves. Ask each school's financial aid office what's available.
- Private scholarships come from businesses, clubs, faith groups, and community foundations. See Search for Scholarships. Never pay a fee to apply for a scholarship or to have someone find scholarships for you.
Work-study
Federal Work-Study provides part-time jobs for students with financial need, often on campus, so you can earn money for school costs. If you're offered work-study, ask the financial aid office how to find a position.
Student loans
If you need to borrow, start with federal student loans. They usually have lower fixed interest rates and more flexible repayment options than private loans. Borrow only what you truly need, and think about what you're likely to earn after school.
Big changes in 2026: A 2025 federal law changed student loans starting July 1, 2026, including new borrowing limits, the end of Grad PLUS loans for new borrowers, and a new income-based repayment plan. If you're borrowing now or already repaying, check StudentAid.gov for the current rules.
Private loans from banks and other lenders usually cost more and offer fewer protections if you have trouble paying. Use them only after federal aid, and compare carefully.
Lowering the cost
- Community college costs far less, and many states offer free or nearly free community college. Credits often transfer to a four-year school.
- Some colleges are tuition-free. See Find Free Online College Classes.
- Job training and apprenticeships let you earn while you learn. See Job Help.
- Tax credits like the American Opportunity Tax Credit can give you money back for college costs when you file your taxes.
Trouble repaying?
If you're struggling with federal loan payments, contact your loan servicer before you fall behind. Income-based plans, deferment, and forbearance may help. Be wary of companies that charge fees to "fix" or forgive your student loans. Anything they can do, you can do for free through StudentAid.gov or your servicer.
A helpful book
The Princeton Review's Paying for College is updated every year and explains financial aid, the FAFSA, and smart borrowing step by step. The link shows the newest edition, and your library may have it too.
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Chances.org shares this information to help you find a starting point. Rules, deadlines, and amounts change every year, so please confirm details at StudentAid.gov and with your school. See our disclaimer.