WEBVTT 00:00:00.000 --> 00:00:05.000 music 00:00:05.000 --> 00:00:07.000 Thanks for checking out Western Oregon University 00:00:07.000 --> 00:00:10.000 and exploring our options for paying for your college education. 00:00:10.000 --> 00:00:13.000 Hello I'm Amanda a senior at WOU. 00:00:13.000 --> 00:00:18.000 When I was exploring universities I found it a little hard to understand all the financial aid choices. 00:00:18.000 --> 00:00:21.000 So I'm gonna walk you through the basics in this short video. 00:00:21.000 --> 00:00:25.000 Let's start with the best part: money you don't have to pay back. 00:00:25.000 --> 00:00:29.000 There are two categories to consider for free money: grants and scholarships. 00:00:29.000 --> 00:00:32.000 Grants come from both the federal government and the state 00:00:32.000 --> 00:00:37.000 and are awarded to qualifying students who fill out the Free Application for Federal Student Aid, or FAFSA. 00:00:37.000 --> 00:00:41.000 Grants are based on financial need. The most common one is the Pell Grant. 00:00:41.000 --> 00:00:44.000 Scholarships come from a variety of places 00:00:44.000 --> 00:00:49.000 including charitable foundations, national organizations, state government, and directly from WOU. 00:00:49.000 --> 00:00:53.000 Students must apply for scholarships and many are very competitive. 00:00:53.000 --> 00:00:58.000 Scholarships funded by organizations other that WOU can be found and applied for online. 00:00:58.000 --> 00:00:62.000 You can find out more about the process by visiting wou.edu/finaid. 00:01:02.000 --> 00:01:07.000 Admitted WOU students have access to dozens of different general and departmental scholarships. 00:01:07.000 --> 00:01:11.000 Fortunately it's easy to apply for multiple scholarships with one application. 00:01:11.000 --> 00:01:13.000 The deadline for that is March 1st. 00:01:13.000 --> 00:01:17.000 Next, there's the money you have to pay back, usually loans. 00:01:17.000 --> 00:01:20.000 These have lower interest rates than personal loans 00:01:20.000 --> 00:01:22.000 and don't have to be paid back right away. 00:01:22.000 --> 00:01:27.000 Like grants, these are made available by the federal government when you file for your FAFSA. 00:01:27.000 --> 00:01:29.000 There are three different types of loans. 00:01:29.000 --> 00:01:33.000 And a great resource for understanding the different options is studentaid.gov. 00:01:33.000 --> 00:01:35.000 After you become an admitted student 00:01:35.000 --> 00:01:40.000 a WOU financial aid advisor can walk you through any remaining questions you might have about loans. 00:01:40.000 --> 00:01:44.000 There's one more type of financial aid and it's called work study. 00:01:44.000 --> 00:01:46.000 Work study is funded by the government and awarded by Western Oregon. 00:01:46.000 --> 00:01:50.000 It involves working on campus or off campus while you're earning your degree. 00:01:50.000 --> 00:01:55.000 There is both an online resource called Handshake and a career development team at WOU 00:01:55.000 --> 00:01:57.000 that can help you find and apply for a work study job. 00:01:57.000 --> 00:01:61.000 Sometimes that job can even be related to your future career. 00:02:01.000 --> 00:02:06.000 Of course the vast majority of traditional jobs on campus don't require a work study award. 00:02:06.000 --> 00:02:10.000 If you want to try for WOU scholarships you need to be an admitted student. 00:02:10.000 --> 00:02:14.000 The first step is to apply today at wou.edu/apply. 00:02:14.000 --> 00:02:18.000 I hope this helps you understand your different options for paying for college. 00:02:18.000 --> 00:02:21.000 Obviously a lot of it hinges on filling out your FAFSA. 00:02:21.000 --> 00:02:23.000 So be sure to get that done as quickly as possible. 00:02:23.000 --> 00:02:25.000 Thank you and good luck. 00:02:25.000 --> 00:02:32.000 music