Discover Ways to Pay for School

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Friday, December 10, 2021

Notice

This article appears for archival purposes. Any events, programs and/or initiatives mentioned may no longer be applicable.

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Furthering your education is always a good idea. Learning new skills and broadening your base of knowledge can help you advance in your career or pivot into a new field. Time spent on education is time spent wisely; investing in yourself pays off in the long run. Sometimes paying for college can be a challenge, which is why Rio Salado College offers several different ways to help pay for your education.

Get Started with Financial Aid

Financial aid is available in many forms such as grants, scholarships and loans. Whether or not you receive financial aid will depend on your demonstrated financial need and other eligibility requirements. Financial aid can help students supplement their ability to pay for college costs, including::

Tuition/fees,
Books/supplies,
Transportation.

Like most forms of financial assistance for education, you’ll need to fill out a Free Application for Federal Student Aid (FAFSA) to determine your eligibility for aid. The FAFSA is based on the applicant’s prior year federal income tax return and also takes other household assets into consideration.

You'll need a few pieces of information to fill out your FAFSA:

Federal income tax return.
Social Security number.
Driver's license number (if you have one).
Records of your assets: savings & checking account balances; value of investments (including stocks, bonds, and real estate that doesn't include your primary residence).

You'll also need to create a FSA ID, which is the account username and password you'll use to log in and complete the FAFSA process. It's best to do this early because it can take up to three days before you can use your FSA ID.

Once you complete your FASFA, that lays the groundwork for determining your eligibility for a number of options, including these listed below.

Loans

Student loans are an option for paying for schools. These loans tend to feature lower interest rates and must be repaid after college. The college does not participate in private education loans—the loans are assessed by the federal government.There are three types of loans:

Federal Direct Subsidized Loan: Low, fixed interest rate loans made to eligible students who demonstrate financial need.
Federal Direct Unsubsidized Loan: These loans do not require the student to demonstrate financial need to be eligible for the loan.
Federal Parent Loan for Undergraduate Students (PLUS Loan): These loans are available to parents of dependent undergraduate students.

In order to be eligible for a loan, you must fill out your FAFSA and be enrolled at least half time (6 credit hours or more per semester). You can learn more about student loan terms and conditions here. For the most current information about loan interest rates and fees, please visit StudentAid.gov.

Grants

Another option for financial assistance is grants. Grants are a way to help students with exceptional financial need pay for their education. Unlike loans, grants do not have to be repaid (with some exceptions). One thing that grants do share with loans: you have to fill out a FAFSA in order to be eligible to apply for grants.

Grant Types:

Federal Pell Grant: These grants are usually awarded to undergraduate students who have not earned a bachelor’s or a professional degree. There is no requirement for a minimum enrollment status but the amount of Pell grant funding you receive will differ based on your enrollment status.
Federal Supplemental Educational Opportunity Grant (FSEOG): These grants require an enrollment status of half-time or more to be considered eligible.
Arizona Leveraging Education Assistance Partnership (AzLEAP): The AzLEAP grant is available to Arizona residents who meet the criteria for a Pell Grant and also have an enrollment status of half-time or more.

Scholarships

The Maricopa Community College District and the Maricopa Foundation offer scholarships for students in financial need. These scholarships are available to students involved in a wide variety of majors, backgrounds, and interests; varying levels of financial need and academic success are also taken into consideration. Both the District and the Foundation have different requirements for their scholarships—check their sites for more information on the scholarships they offer.

Many non-profit groups and community organizations also offer scholarship opportunities. Many non-profit groups and community organizations also offer scholarship opportunities. There are several online resources to find scholarships (one important note: avoid scholarship opportunities and resources that require a fee to access). If you’re a veteran, keep in mind that there are scholarships available to people who have served.

Self Pay

If you find you don’t qualify for loans, grants, federal work study, or scholarships - or perhaps the funds you receive are not quite enough - students can always self pay. You can work with our Financial Aid office to set up the best path to meet your educational needs.

Discover Ways to Pay for School

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