What are alternatives to FAFSA?

If you’re frustrated and worried after waiting patiently for your financial aid award letter you won’t have enough or can’t even apply to FAFSA, here are some options you can explore to provide backup, experts say.

⬤ CSS Profile: a financial aid application used by some colleges and universities to award institutional aid. This is not a substitute for the FAFSA, and filing the CSS profile will not make a student eligible for federal or state financial aid.

⬤ Alternative State Aid Applications: Some students who aren’t eligible for FAFSA due to immigration status should check their state for alternative aid applications. Illinois, for example, offers the Alternative Application for Illinois Financial Aid, which is open to undocumented students. Virginia opens its alternative state aid application to Virginians who are nonimmigrants, undocumented, have Deferred Action for Childhood Arrivals status, or are otherwise ineligible to file the FAFSA and would like to be considered for state financial aid .

⬤ Scholarships and grants: Schools and private organizations offer their own funding for scholarships and grants, based on needs or merit. Many, but not all, may require FAFSA. The trick is finding them. Luckily, there are many websites to help including Scholly, founded by Christopher Gray who landed himself $1.3 million in scholarships and got a deal on Shark Tank for his company. Others include Going Merry, FastWeb and BigFuture.

⬤ Veterans benefits: If you served in the military or have a family member who has, you may qualify for VA educational benefits in addition to FAFSA.

⬤ Financial aid counselors: They can offer a wealth of information, not just to navigate FAFSA or school admissions processes. They also know about little-known scholarships and grants; have important contacts they can tap for information and can help you find more aid. “It’s never too early to establish a relationship with the financial aid office,” said Patti Kohler, vice president of financial aid at Western Governors University. “They can help navigate and alleviate general anxiety to help get enough funding through to graduation.”

⬤ Employer: Your employer may offer money toward your education. The IRS lets companies provide up to $5,250 annually tax-free per employee for education.

⬤ Private student loans: This option is one most experts will tell you to keep as a last resort because you benefit from low federal interest rates, attractive federal repayment plans, and other borrower protections. If you’re considering these, you must shop around and fully understand your terms.

⬤ Reconsider your plans: Reexamine your college list to ensure there’s a mix of different-priced schools and consider the costs and benefits of each. “I firmly believe in informed decisions,” said Bob Collins, senior adviser for the Office of the President & Vice President of Talent Finance at Western Governors University. The Department of Education’s “College Scorecard is really important to look at. It has consumer information and outcomes of people who attended that college.”

Lastly, college may turn out not to be the most cost-effective option, and that’s OK too, Collins said. There are also non-degree technical programs, apprenticeships and internships.