Financial Aid - FAFSA

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Paying for College: Financial Aid Overview

What is Financial Aid?

  • Financial aid is money that helps students and families pay for college.

  • It can come from the federal government, the state, colleges, private organizations and loans.

There are four main types of financial aid:

1. Grants (Free Money)

  • Grants are need-based aid that does not have to be repaid
  • Awarded by federal and state governments and colleges
  • Examples: Pell Grant, Texas Grant

2. Scholarships (Free Money)

  • Scholarships do not need to be repaid
  • Awarded based on merit (grades, test scores, activities), financial need, or specific criteria
  • Offered by colleges, organizations, and private companies
  • Institutional (the college itself) aid is generally the largest amount of scholarship given

3. Work-Study (Earned Money)

  • A part-time job program for students with financial need
  • Students earn money to help pay for expenses while enrolled in college

4. Loans (Borrowed Money)

  • Loans must be repaid with interest
  • Federal student loans often have lower interest rates and better protections than private loans
  • Students will qualify for Federal Loans (subsidized or unsubsidized) by completing the FAFSA
  • Should be used carefully and as a last option after grants and scholarships

 

FAFSA – Free Application for Federal Student Aid

The FAFSA is the main application used to determine eligibility for financial aid.

  • Federal student aid is money that students can use to help pay for college
  • Completing the FAFSA allows colleges to determine eligibility for grants, work-study, loans, and sometimes scholarships
  • The FAFSA calculates a Student Aid Index (SAI), which colleges use to build financial aid offers. Financial need is determined as Cost of Attendance (COA) - Student Aid Index (SAI) = Financial Need.

Who Should Complete the FAFSA?

  • All students should complete the FAFSA, regardless of income
  • Many colleges and scholarship programs require it
  • Even families who do not qualify for need-based aid may need it for merit aid consideration
  • FAFSA website: studentaid.gov
  • Some colleges will require the CSS Profile in addition to the FAFSA to be considered for institutional student aid, check the school's website carefully for deadlines. CSS Profile website: https://cssprofile.collegeboard.org/

Important Dates

  • The 2026–2027 FAFSA opens October 1, 2025
  • Texas Priority Deadline: January 15, 2026
    • Meeting this deadline is critical for Texas Grants and Texas institutional aid
    • Many Texas colleges have a application and scholarship priority deadline of December 1st.

TASFA – Texas Application for State Financial Aid

  • Students who are not eligible to complete the FAFSA due to citizenship status may qualify for the TASFA
  • TASFA allows eligible students to be considered for Texas state financial aid programs
  • TASFA can only be submitted to one college - submission should be before January 15
  • To complete the TASFA, students must be a Texas Resident.
  • TASFA website: https://www.highered.texas.gov/students-families/tasfa/

Texas Graduation Requirement

In accordance with Texas Education Code (TEC), §28.0256, students enrolled in 12th grade must do ONE of the following in order to graduate:  

Students must:

  • Submit proof of FAFSA OR TASFA completion
  • Submit the official TEA Opt-Out Form

At Anderson:

Understanding Financial Aid Offers

After applying, colleges will send a financial aid offer (sometimes called an award letter) via the student's application portal or by mail:

These offers may include a combination of:

  • Grants (free money)
  • Scholarships (free money)
  • Work-study
  • Loans (must be repaid)

Families should compare:

  • Total Cost Of Attendance (COA)  after all aid offers
  • Amount of free aid (grants + scholarships)
  • Loan amounts
  • See Resources below for websites to help plan and evaluate offers

Texas Public University Deadlines

December 1 is one of the most important financial aid deadlines in Texas.
At many public universities, applying by December 1 can significantly increase eligibility for institutional scholarships (free money).

Missing this deadline may limit scholarship opportunities—even if a student is later admitted.

Major Texas publics with December 1 admission and/or scholarship priority deadlines:

  • Texas A&M University - admission deadline (TAMU scholarship application is part of the primary application)
  • Texas Tech University - Honors College and priority scholarship deadline
  • UT Austin - admission & 40 Acres Scholarship deadlines
  • UT Dallas - Honors Programs and scholarship
  • UT San Antonio - Top Scholars and Terry Scholars deadline

January 15 scholarship priority deadline:

  • Every other Texas public institution to be considered for Texas Tuition Programs.

Read more about Texas 4-year Public Colleges Offering Free Tuition.

 

Financial Aid Information Sessions & Support

Austin ISD Parent U: Parent U is an Austin ISD series of virtual workshops for parents and guardians to help support their student in the preparation of their postsecondary journey. Each month, families gain practical tools and information on college readiness, career planning, financial aid, mental health and more.  

The sessions are conducted on Zoom from 6-7pm.  Zoom Registration:  bit.ly/AustinISDParentU

Austin ISD Parent U: Paying for College: Informative session covering:

  • FAFSA/TASFA
  • Scholarships
  • Deadlines
  • How families can support students through the financial aid process

Parent U Financial Aid Presentation PDF

Parents and students should check this website and Naviance email communications about FAFSA and TASFA support sessions held at Anderson HS each Fall. 

Senior students receive Financial Aid presentations in their Government and Economics classes.

Useful Financial Aid Resources

FAFSA & Federal Aid

Key FAFSA Topics

Planning & Comparison Tools

Anderson Resources

Reminders for Families

Financial Aid Timeline Overview

  • Start with the FAFSA (or TASFA if applicable)
  • Complete the CSS profile if the college requires it for scholarship consideration
  • Apply to Texas colleges by December 1 whenever possible for best scholarship consideration
  • Focus first on free money (grants & scholarships) (Anderson Scholarship webpage)
  • Use loans carefully and understand repayment

Questions?  Contact Jill Spencer at jill.spencer@austinisd.org