There are various sources of financial aid available for you to help pay for college, including private scholarships. Understanding the major sources of financial aid will allow you to focus your efforts where you're likely to get the highest return. And it isn't private scholarships. Private scholarships actually make up of one of the smallest sources of financial aid available for paying for college.
There are four types of financial aid. This introduction looks at three of them, Federal, State, and Private (scholarships). While these sources aren't likely to provide significant help in cutting the cost of college, if you qualify for financial aid from these sources, you should take advantage of it. By understanding the value of these sources, you will be able to use the appropriate time and effort in pursuing them.
The fourth is institutional aid. Institutional aid is the focus of the Roadmap to Cutting College class and is the source of aid that families need to target to make college most affordable.