What is Financial Aid?
Student financial aid is funding that is available exclusively to students attending a post-secondary educational institution. This funding is used to assist in covering the many costs incurred in the pursuit of post-secondary education such as the class itself or even things like textbooks. There's no one way to pay for school, in fact, there are four main types of financial aid that a majority of Wildcats either qualify or receive. Those types of financial aid are: grants, scholarships, student loans and work-study. They all help pay for school but there are subtle differences between them. Here at APASA, we can help provide current and future Wildcats with resources such as scholarships they can apply for and knowledge about each individual option, that way they can make sure that they maximize the aid they are offered.
Federal Work-Study (FWS) is considered “self-help” aid and this is because it provides funding for part-time jobs for students with financial need and is considered self-help aid. FWS funds pay out like a typical paycheck over the course of the academic year and can help cover additional educational expenses. Once earned the student does not need to pay it back. APASA will typically hire 4-6 Federal Work Study students during the year. Please reach out to APASA Director – Kenny Importante if you’re looking for a job. Often times, APASA staff is notified if other departments on campus are looking for FWS recipients to fill their positions and we would be happy to connect students to these work opportunities.
Loans are another form of “self-help” aid and are available to both students and qualifying parents. They can be a viable option to cover any remaining costs that are not funded by other forms of financial aid. Remember, loans will need to be paid back, usually with interest, so borrowing responsibly and understanding your repayment options so you can successfully repay your loan are important!
Scholarships are often referred to as free money or aid that does not have to be repaid under any circumstance . These awards can be based not only on your grades, but also on your unique identity/background. Here at UArizona we have a built in scholarship search engine which is able to search for both scholarships internal and external to the university. The link is: https://financialaid.arizona.edu/ScholarshipUniverse.
This year's Betty B. Chastain Scholarship deadline is April 3, 2023.
A grant is a form of financial aid that doesn’t have to be repaid under regular circumstances (unless, for example, you withdraw from school and owe a refund, or you receive a TEACH Grant and don’t complete your service obligation). Grants are usually need based and a variety of federal grants are available, including Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), Teacher Education Assistance for College and Higher Education (TEACH) Grants, and Iraq and Afghanistan Service Grants.
Current Scholarships/Funds that are Open and are Accepting Applications:
Variety of Asian American Scholarships
2. Scroll to towards the bottom of the page
3. Fill out scholarships that you fall under. Each scholarship has it's own requirements and needs.
Dorrance Scholarship Program
1. Head over to Dorrance Scholarships (or use the provided QR code).
2. In order to start your application scroll down towards the bottom of the page and click, I Want to Learn More! This will start you on your process.
3. Be sure to check the requirements (below) prior to starting your application. When you're ready you can start filling it out!
Application Opens Online: October 1st 2023
Deadline: January 31st 2024
Students can earn up to $12,000 per Academic Year (for up to four years)
- Are an Arizona resident
- Are a current graduating senior attending a public, private, charter, or home school
- Will be a first-generation college student (neither parent, stepparent, or legal guardian holds a four-year degree in any country)
- Have a minimum cumulative 3.0 GPA (weighted or unweighted)
- Have a minimum test score of 1110 SAT, 22 ACT, or 72 CLT
- Demonstrate financial need by completing the FAFSA
- Plan to attend ASU-Tempe, NAU-Flagstaff, or UA-Tucson
- Agree to live in on-campus housing during freshman and sophomore year
Any Questions: Dorrance@DorranceScholarship.org
For more information around financial planning: https://www.moneygeek.com/financial-planning/resources-for-asians-pacif…