Financial Aid 101 for Parents and Families
How to pay for college — we know this topic makes many anxious.
Maybe you've never gone to college. Or if you did, it was many years ago, and things have changed dramatically since you last filled out a financial aid application.
Let's lower your blood pressure right now.
#1. The majority of UToledo students receive some sort of financial aid to help lower their costs.
#2. We are here to help you ― live and in person, via email or by phone. Ask us anything.
Where do I start?
Cost.
Once you have a ballpark figure of your costs, you can start budgeting.
Our Financial Aid website has an entire section for New and Transfer Undergraduate students. It explains the financial aid process from start to finish, beginning with estimating your costs.
Start here.
Important Dates
January: FAFSA available
January 3: Priority admission deadline for new freshman merit scholarship eligibility;
Priority application deadline for new freshman UToledo donor general scholarship
application
Mid-March: Summer Financial Aid application becomes available
Early May: Begin sending financial aid offers to new and continuing students
May 31: Extended application deadline for new freshman merit scholarships. Must have completed
an admission application including all required documents for consideration.
Priority deadlines are not final deadlines. Applications received on or before the priority deadline will receive priority consideration.
What you need to know ― tips for parents and families
FAFSA
You've heard the word ― probably from other parents and probably in a frustrated tone of voice. It stands for Free Application for Federal Student Aid. If your student wants financial aid, this is where they ― and you ― must begin.
Here's what you as a parent or family member needs to know.
Scholarships
Scholarships are your student's best bet for financing their education. Free money. No repayment plan.
But it takes some legwork to research and apply.
Parent Plus Loan
Loans are sometimes the only way to help pay for college. But they can be tricky.
Your student may be eligible for federal loans based on financial need. Generally, these loans are lower interest, have more flexible repayment plans and more benefits than loans from private lenders.
If you still need to fill in some financial gaps, you also may be eligible for a federal Parent PLUS loan. Eligibility is not based on financial need.
FERPA
More alphabet soup. FERPA stands for the Family Educational Rights and Privacy Act. It's a federal law that prohibits us from releasing information about your student to a third party without written consent. That includes financial information.
If you want to speak with us about information specific to your student, they must fill out a FERPA consent form. They need to go to myUT → Student tab → My Accounts → FERPA Consent.