IT'S A RICH MAN'S WORLD: FINANCING YOUR EDUCATION IN THE UNITED STATES.

Going to college is a huge expense. Every year more than 7 million U.S. college students receive financial aid. The good news is you do not need to be a straight-A student or an athlete to qualify for aid. To help pay for college the US Department of Education offers a variety of student financial aid programs including loans, grants and work-study programs. Information on how to apply and some of the various loans and grants that are available are contained in this article.

You can learn about state programs by contacting your state Department of Education, your high-school counselor or the college you hope to attend.

Applying for federal student aid is easy (laughs hysterically) and free. All you need is to complete a Free Application for Federal Student Aid (FAFSA) available from your school counselor or complete an on-line application by going to. The mailing address for FAFSA information is: Federal Student Aid Information Center, PO Box 84,Washington, DC, 20044 or phone 1-800-433-3243. They will not accept photocopies or faxes of FAFSA's.

Your eligibility is determined one award year at a time (from July 1 to June 30). Therefore you should re-apply for aid every year using a Renewal FAFSA, even if you do not think you are eligible. There are many factors that will affect your eligibility for financial aid. If you aren't eligible one year, you may become eligible the following year if your family circumstances change (if a brother or sister enrolls in college for example, or a job loss curtails the family’s budget).

You should apply (for 1999-2000), as soon after January 1, 1999 as possible. You should not apply before this date. This means you cannot apply on the web and do not sign, date or mail your postal application before January 1,1999.

You will need information from the following documents to complete the FAFSA and other financial aid application forms:

• driver's license and social security number
• income tax returns, W-2 forms, and 1099 forms for the previous year. (If you are a married student, you will also need the documents for your spouse.)
• parent's income tax returns, W-2 forms, and 1099 forms from the previous year
• current bank statements and mortgage information (if applicable)
• records relating to stocks, bonds, mutual funds, and other investments (if applicable)
• documentation of non-taxable income, such as Social Security income, AFDC, and Veterans Benefits.
• business and farm records (if applicable)
• records relating to any unusual family financial circumstances, such as medical and dental expenses not covered by health insurance, tuition expenses at elementary or secondary schools, unusually high child care costs, death, divorce, and loss of employment
• the Federal School Code for each of the schools you are applying to (available from the college or your high school counselor).

Most of you will be entering college straight from high school and will be considered dependent students. This means both you and your parents will have to report financial information on the FAFSA.

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