The typical college student has many questions pertaining to financial aid. How does one apply for financial aid? What are the kinds of financial aid and how much goes to each? What on earth is a FAFSA? For Allen Community College students, Financial Aid Director Vicki Curry has the answers.

She responded to general questions that students and patrons might have.

How does a student apply for financial aid?

First of all, there are two general fields of financial aid. The first is federal aid, which comes directly from the government. This would be the FAFSA (Free Application for Federal Student Aid). The application for this program is free and easy, and a families’ taxes and current financial status determine the award.

The second field is institutional scholarships, which is money that comes directly from Allen and goes to its students. Allen students can apply for these scholarships on the Allen website by filling out the online forms.

What kinds of awards and scholarships are available?

In federal aid, there is, of course, the FAFSA. Many people are confused about the FAFSA, but here’s the long and short of it: The FAFSA determines the financial need of the student.  The financial need is determined by a methodology using the income and assets of both student and parents.  The EFC (Estimated Family Contribution) number that is calculated when a FAFSA is processed is what is used to determine the student’s eligibility for a Pell Grant, Supplemental Educational Opportunity Grant and subsidized and unsubsidized student loans.

For institutional scholarships, Curry said Allen has “one of the best scholarship programs in the state.” The following are the scholarships Allen offers:

Presidential Scholarship: Must have a grade point average of 3.75 or higher; covers tuition, book rental, and incidental fees for up to 18 hours.

Deans Academic Scholarship: Must have a GPA of 3.50-3.74; covers tuition and book rental for up to 18 hours.

Merit Academic Scholarship: Must have a GPA of 3.00-3.49; must be a Kansas resident, $500 per semester.

Activity and Athletic Scholarships: Covers tuition and book rental, up to 18 hours.

Allen County Scholarship: Awarded to students living in Allen County; $100 per three credit hours each semester, maxing out at $400 a semester.

 What determines how much a student will be awarded?

Allen’s scholarship policy is based solely on merit. Most institutions factor in how much a student or their parents make, but Allen bases its decision entirely on a student’s grades.

Where does the money come from?

For institutional scholarships, the money comes directly from the school and donations made by individuals. Allen has a very strong endowment association that helps with the financial needs of students.

How much did Allen give out in the 2014-2015 year?

In scholarships, Allen distributed $1,148,389.25.

What is the one thing you (Curry) would say to students seeking financial aid?

“Be sure to apply to every scholarship you have an opportunity to,” Curry said. “Also, be very conservative when borrowing money.”

Curry emphasized the importance of saving and using borrowed money for school. Many students are handed money and use it to buy a new phone, or a fancier laptop. Borrowed money is never free and should be used with great care.