While it may be tempting to look at how you will fund your education before choosing where to get your education, I believe it is best to choose where before thinking about how.  This is because worrying about finances can cause you to aim for less than the best fit for your continued education.

However, once you have identified your top choices, the next step is to learn about scholarship and other funding opportunities.  One of the best sources for information regarding long term planning for funding a college education can be found at http://money.cnn.com/pf/college/.

Some schools are needs blind which means they will choose to accept you without knowing whether you have the resources to pay.  Typically, these schools have many scholarships available and they want a diverse student body.  In other words, they don’t want a student body that is entirely affluent.

Other schools will address costs early on.

Most schools provide financial aid for students who are from low income families.  Some schools encourage students to ask friends and family for financial support.

Grants and scholarships are money you do not have to repay.  Loans are money that you and/or your family will be expected to repay.

 To learn whether you qualify to get federal grants or loans, you must complete the Free Application for Federal Student Aid (FAFSA) (ideally before February 15 the year you intend to start college).  This form will calculate your Estimated Family Contribution (EFC).  It is important to share your FAFSA and EFC with each of the schools that you are considering.  Most schools use this information to assemble your financial aid package.  A financial aid package may include scholarships (academic, sports, music, leadership, early admission, etc.) grants, loans, a work study job and up front or periodic payments.

Scholarships are available directly from schools and also from community organizations such as chambers of commerce, rotaries, clubs and state and national organizations such as businesses, credit unions, professional organizations, etc.

There are also scholarships for descendants of certain families or cultures and members of faith based organizations.

Often the schools you are considering will have information regarding scholarships that are available to prospective and continuing students.

The key to funding your education is to ask and seek.  Ask everyone you know whether they know of scholarship opportunities.  There are many scholarships that go unused year after year simply because no one applies for them.  Plus, there are times when people you ask will choose to contribute directly to your education and some employers (even small employers) offer an ongoing education benefit to their employees and family members.