Applying for financial aid shouldn't be a burden but many students don't know where to begin when it comes to getting financial aid. Many people will say why don't you just ask a counselor. The problem with is many students don't know the right questions to ask and sometimes seeing a counselor can be trying.

So to save you some time and sanity I've put together the most important information that you'll need to know about financial aid. I've put into a question and answer format so that's easy to read and find the answers that you're looking for.

What is financial aid?

Financial aid is money that helps you pay for college. The three forms of financial aid are: grants, workstudy and loans. *Note: Scholarships count as a way to pay for college but are not a part of the financial process. I will discuss scholarships in another hub.

Does financial aid need to be paid back?

No, This money does not have to be paid back unless one of the following happens: 1)If you drop out of school during the course a semester and have already received your financial aid distribution or 2) If your enrollment status is reduced. In both instances you'll be required to repay a portion of the monies you received.

When should I apply for financial aid?

Apply for financial aid as soon as possible.

How do I apply for financial aid?

Each college is different and many states offer different types of grants but one thing certain is that all colleges require you to fill a financial aid application. The first thing to do is go to the FAFSA's website and fill out the application and their it will walk you through the process of fill out the proper forms.

What information or documentation do I need in order to complete my financial aid application?

You will need the following information:

• The prior year's tax return (If you're working)
• Driver's license (if you have one)

• Parents tax return (If under 24 and unmarried)
• Spouses tax return (If married)
• W-2's (Parents, Spouses if applicable)

All this information you will need to have readily available when you fill out your application online.

What is the EFC?

The EFC is your Estimated Family Contribution. It's a number used by the institution that you will be attending to determine how much financial aid you will received. Every institution is different and the amount of aid required will vary from institution to institution.

What's the difference between a "Dependant" and "Independent"?

A dependant is anyone who is under the age of 24 and unmarried. As dependant you are required to provide at least of your parents financial information(Tax Return, W-2's) unless you are ward of the state. Even if you don't live with your parents you are still required to provide their information.

An independent is anyone who any of the following:

• 24 or older
• Under 24 and married

What it is work study?

Work study is a financial aid program that allows you work on campus to earn money to help pay for college. Usually their is a cap on how many hours you can work a semester.

Now here are things to remember:

• Keep records of everything
• Remember your deadlines
• Complete your application at least a month or more in advanced
• Don't stress out

Now go out and get that money! *Cheers*