Federal student aid can help make up the difference between what you can pay and how much college actually costs. Federal aid comes in the form of loans, grants, and work-study programs.

Grants. Grants do not need to be repaid. The federal government ensures that each participating college has the money to offer Pell grants to every qualifying student. The maximum Pell grant is $4,000, although most students get less.

If you're going back to school because you've lost your job or your marriage has dissolved, you may qualify for a Pell grant even if you don't meet the usual financial guidelines. Some schools offer the neediest students the Federal Supplemental Educational Opportunity Grant (FSEOG), which runs between $100 and $4,000 per year, but availability depends upon school funding.

Work-study. The Federal Work-Study Program provides student jobs according to financial need. Jobs earmarked as work-study, both on campus and off, put students to work in the public interest. Pay depends on the type of work, but is no lower than the minimum wage. Students can earn up to the amount of their work-study award.

TALK TO THE SCHOOL
Once you've reviewed your aid package, here are a few more things you may want to discuss with the school.

1. Your aid package isn't written in stone. Schools will negotiate. If you think there's any chance you could get more aid — for example, you have a competing offer from another school, or unusual circumstances have affected your ability to pay — it can't hurt to try.

2. There could be less aid in subsequent years. If you can, ask the school to lock in the aid package for all four years.

3. To make things easier, many schools let families pay in monthly installments or defer some of the costs at interest.

4. Some schools let families guard against unpredictable jumps in price by providing tuition stabilization programs: By paying more the first year, the student can lock in that rate for all four years.

MONEY FROM HOME
If you own your own home, you may consider a home-equity loan to pay for college. The loan interest is tax-deductible, and you can typically borrow up to 80% of your home equity. However, if you don't pay back a home-equity loan, you could lose your home.

OUTSIDE AID
For money you won't have to pay back, look for outside scholarships and grants. You'll probably have to work hard to find them and to apply. The extra effort could pay off, as scholarships range from a few hundred dollars to thousands of dollars. Some students manage to pay for all their college expenses with scholarships.

Many scholarships target students with a history of community service. Some are awarded on the basis of ethnic background, intended field of study, religion, hobbies, employment, and so on. An internet search or a trip to the library may unearth a number of possibilities. High school guidance offices should also have information about local scholarships.

OUTSIDE LINKS

www.fafsa.ed.gov
You can fill out the Free Application for Federal Student Aid online. The site tells you what information you’ll need before you apply and answers frequently asked questions.

studentaid.ed.gov
The Federal Student Aid website guides students through six phases in their college application process: preparing, choosing, applying, funding, attending, and repaying.