Major Takeaways from Ascent & SAFE Credit Union Webinar: Paying for College 101

Major Takeaways from Ascent & SAFE Credit Union Webinar: Paying for College 101: Navigating FAFSA®, Scholarships & Loans

With tuition costs on the rise, securing financial aid is key to making higher education more affordable and reducing financial stress. Understanding your options—grants, scholarships, work-study programs, and student loans—can help you navigate the process with confidence.

We partnered with SAFE Credit Union to host a webinar, “Paying for College 101: Navigating FAFSA®, Scholarships & Loans.” We gathered expert panelists from Ascent including Erin Annis, School Support Coordinator, and Kumba McGill, Relationships Manager, to speak with the Event Host, Savannah Brown, Community Development Specialist at SAFE Credit Union. The discussion focused on demystifying financial aid, offering practical tips, guiding students through the FAFSA process, and answering valuable questions.

If you missed the webinar, no worries! Feel free to watch it here.

Understanding your financial aid options is crucial for making informed decisions about financing your education. Our panelists thoroughly reviewed four types of financial aid: federal and state grants, scholarships, work-study programs, and student loans.

FAFSA®, also known as the Free Application for Federal Student Aid, is the key to accessing federal financial aid, including grants, scholarships, work-study, and loans, with many states and colleges using it for additional aid. Submitting it early maximizes funding opportunities, making college more affordable through need-based aid and low-interest loans.

Our panelists suggest that if you have these qualities, you are eligible to submit an application:

• Financial Needs
  • You need money to help pay for your education
• High School Diploma or GED
• U.S. Citizen and eligible non-Citizens
• Enrolled or accepted in an eligible degree or certificate program

To maintain your eligibility, we advise you to do the following:

• Maintain a +2.0 GPA
• Do not default on any student loans
• Keep your non-citizen status intact
  • Do not get it revoked
• Enroll in a qualifying degree/certificate program
• Reach the maximum amount you can borrow from the federal government for a lifetime

To get you started, our panelists guided students and parents through the process of how to complete the FAFSA application.

Before beginning the process, here are some quick notes:

• Students should start and complete this application as soon as possible and regardless of if they think they qualify
• Parents will have to fill out their own sections if students are dependent
  • Under the age of 24, not married, no children, not in the military or homeless
• Students and parents must use different email addresses when creating their FSA ID
• Pro Tip: If you’re unsure about a question, use the “Hint (?)” icons for guidance on providing exactly what is needed.

Next, our panelists recommend you grab a cup of coffee or tea to carry you through this hefty process:

To stay prepared, you should have the following documents beside you:

• 2023 federal tax forms and W-2’s
• Untaxed income
  • Child support
  • Verterans’ non-educated benefits
  • Supplemented Support Income (SSI)
• Cash and investment balances
• Your top schools
  • Up to 20 options
  • Financial aid offers

Here are the steps to completing the FAFSA application:

1. Log into FAFSA.gov
2. Use your FSA ID
   • Used as your electronic signature
   • Save this along with your password!
   • If you submitted FAFSA last year, use same FSA ID
3. Fill out FAFSA Sections
   • 36 questions
4. Enter basic demographic information
5. Insert your college choices
6. Choose your dependency status
   • Questions to determine your dependency
   • If dependent, answers all questions “No”
   • Parents need to fill out their portion
7. Fill out parents’ information and income
   • IRS DRT: invite, consent, and approval are required
8. Fill out student income
   • IRS DRT
9. Sign, submit, and you are all done!

Included are important due dates and deadlines to consider:

• 2025-2026 FAFSA forms are available now!
  • Submit them by 11:59 CT, June 30, 2025
• Schools send financial aid offers estimated by mid-to-late February
  • Look out for the following:
    • School/ state deadlines for institution or state aid/grant
    • School offers
    • Institution aid
      • First come first serve
      • Complete the application as soon as possible!

Phew! Now that we have covered the FAFSA application process, you have access to a wide range of financial aid opportunities. In addition to federal and state grants, we’ve outlined three more key sources of financial aid to help support your education:

1. Scholarships & Grants: “Free Money,”, no payment required!
   • Federal & State Grants
     • Free aid based on financial needs (ex. Pell Grants, FSEOG)
   • Scholarships
     • Merit-based, need-based, specialized opportunities
     • Local & national databases provide access to thousands of scholarships
     • Private companies and organizations
       • To date, Ascent has given away over $355,000 in scholarships to students and families. Enter now for a chance to win one of our easy-to-apply, no-essay scholarships! You do not need to have an Ascent loan to enter.
   • Here are some strategies to secure a scholarship or grant:
     • Tailor your applications to the specific scholarship/grant
     • Write compelling essays that draw in your readers
     • Track deadlines – apply early!
2. Work Study Programs: Earn While You Learn
   • Need-Based Aid
     • Paid towards tuition
     • Determined by FAFSA
   • Part-Time Employment
     • Earn money for expenses through on-campus employment
   • Direct Pay & Earnings
     • Wages paid directly to students, not applied to tuition
   • How to Apply?
     • Job Application is required
       • Apply for and be hired by campus departments
     • Funding for campus jobs
       • Departments receive funding for positions, students actively seek & secure employment to utilize the award
3. Student Loans: Federal vs. Private
   • Federal (FAFSA required!)
     • Lower interest rate, flexible repayment options
     • Subsidized loans: interest is not charged while in school
     • Unsubsidized loans: interest is charged while in school
   • Private
     • Best used after exhausting all federal aid options
     • Compare lenders: interest rates, repayment terms, benefits

Paying for college may seem overwhelming, but with the right resources and knowledge, you can navigate the financial aid process with confidence. From FAFSA® and scholarships to work-study programs and student loans, there are many ways to make higher education more affordable.

By applying early, exploring all funding options, and staying informed about deadlines, you can maximize your financial aid opportunities and set yourself up for success.

Remember, you’re not alone on this journey! Ascent and SAFE Credit Union are here to support you with valuable resources, scholarships, and guidance.