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Financial Aid and Scholarships

Types of Financial Aid

Loans–Funds loaned through a lending institution or college. Interest rates vary by program. For federal loans, qualifying students – based on need – will not have to pay interest while in school. Loan programs are also available to eligible parents to help with college expenses of their qualifying children.
Grants–Awards that do not need to be repaid. They are usually based on financial need.
Work-study–Jobs that allow students to earn money toward their education while enrolled in school.
Scholarships–Awards based on merit or merit and need. They do not have to be repaid.

Free Application for Federal Student Aid (FAFSA)

All students should complete and submit a Free Application for Federal Student Aid (FAFSA). This application must be submitted to receive federal aid, some state aid, and many scholarships. The FAFSA should be completed as soon as possible after January 1st of the year that the student will be attending their first semester of college, and it must be completed every year while the student is attending college.

Financial aid offices use the information obtained from the FAFSA to determine eligibility for various types of federal student and state aid (i.e. grants, loans, and work-study).

FAFSA Resources:
www.pin.ed.gov – apply for a PIN (Personal Identification Number) to electronically sign the FAFSA
www.fafsa.ed.gov – online FAFSA application
1-800-4-FED-AID (1-800-433-3243) – FASFA toll-free line
www.studentaide.gov – Federal Student Aid Guide

Lottery Success Scholarship

The Lottery Success Scholarship helps pay tuition expenses for New Mexico high school graduates (and GED recipients) who plan to attend an eligible New Mexico public college or university. Students establish eligibility in the first regular semester immediately following their high school graduation. Funding begins in the second regular college semester. To find out more about eligibility for the first regular semester, contact the financial aid or scholarship office at your prospective college.

How much is the award?

Tuition or up to $1,000 depending on school
Renewable if student maintains satisfactory progress and full-time status
May receive scholarship for a total of eight consecutive semesters

What are the eligibility requirements?

New Mexico residents
Graduated from a New Mexico public high school or have obtained a New Mexico GED
Must be enrolled full-time and complete a minimum of 12 credit hours, at an eligible New Mexico public college or university, in the first regular semester immediately following high school graduation Undergraduate and be enrolled full-time (12 or more credit hours) during the second regular semester of college.

How do I apply?

Contact the Financial Aid Office at the college or university to inquire about the application process and continuing eligibility requirements. Applicants may be required to submit a Free Application for Federal Student Aid (FAFSA).

Daniels Fund Scholarship

Each fall, the Talent Search program is allotted a certain amount of nominations for seniors to compete for the Daniels Fund Scholarship. The Daniels Fund Scholarship is designed to cover the unmet financial need of the student as described on their website. The Daniels Fund Scholarship is dedicated to assisting those individuals with a strong background in community service, leadership, and academics. The requirements also include the following:

Must be nominated by a designated referral agency, such as, Talent Search
Must be a senior and expected to graduate during the 2009/2010 academic year from any high school in Colorado, New Mexico, Utah, or Wyoming
Must be a current resident of the above named states
Must be a U.S. citizen, a permanent resident of the U.S., or have refugee or asylum status in the U.S.
Demonstrate financial need
Take the ACT by the October testing date and achieve an exam composite score of 17 or higher, or take the SAT by the October testing date and achieve a combined math and verbal score of 810 or higher

Visit the Daniels Fund website for more information: http://danielsfund.org.