Many students who are entering college do not realize that they may be eligible for financial aid. As long as you are a U.S. citizen with a social security number and a high school diploma or equivalent, you can apply for financial aid.

Whether it’s in a form of scholarship or a financial need, almost three quarters of all college students receive some form of financial aid.

A form called an FAFSA, which stands for Free Application for Federal Student Aid, needs to be completed and submitted to the college you will be attending if you hope to receive financial aid. Your family’s financial information, including income and assets, will determine whether you are eligible for financial aid. The advisors also look at the cost of the college you will be attending as well as books and room and board as part of the expenses you will be responsible for during your time in college.

An EFC, Expected Family Contribution, is the result of what will need to be paid after financial aid advisors have evaluated the FAFSA. You may be eligible for a Federal Pell Grant if the EFC comes out to a low number. A Pell Grant is a form of financial aid that does not have to be paid back. There are other types of financial aid grants available depending on the college and the state you are in.

You may also be able to receive another form of financial aid in the form of a loan. There are various types of loans including subsidized, unsubsidized, and no-interest financial aid loans. Of course, these financial aid loans will ultimately need to be paid back.

A scholarship is another great way to receive financial aid for school. There are many types of scholarships that may be full or partial. You can even request scholarships from major companies and firms. Believe it or not, there is even a scholarship out there for left-handed students! Taking the time to look around will be well worth it when a substantial portion of your schooling is paid for.

Take the next step! Find schools offering financial aid assistance.