February is National Financial Aid Awareness Month, so it’s time to explore the many financial aid resources available for college-bound students. Whether you’re a parent or grandparent, understanding these choices may help your loved ones receive the support they need to pursue higher education.
The landscape of financial aid is vast, with 87.3 % of first-time college students benefiting from some form of financial aid. Despite this encouraging statistic, being proactive can help. Last year alone, students missed out on over $4 billion in unclaimed federal grants. Timely applications and making informed decisions are key.1
We’re dedicated to helping families navigate education funding and are here to be your resource. With projections indicating that federal student aid disbursements reached $135 billion in 2025, including $40.651 billion in grants, there are ample opportunities to apply for financial assistance. The average federal grant award for the 2023-24 academic year was $5,019.17, a contribution toward easing the cost of college.1
Here are some steps you should be thinking about:
Start Early — Encourage your student to begin researching and applying for financial aid as soon as possible. The Free Application for Federal Student Aid (FAFSA) opens on October 1 each year, and submitting early can increase the chances of securing aid.
Explore All Options — Beyond federal aid, investigate state and institutional grants, scholarships, and work-study programs. Many organizations and foundations offer scholarships based on merit, need, or specific criteria, providing additional financial support.
Stay Informed — Regulations and policies surrounding financial aid are subject to change. Knowing the latest developments can help you make decisions.
Consult Us — We are here to provide personalized guidance tailored to your family’s unique circumstances. Together, we can explore strategies for financial aid to manage the financial pressures of higher education.
National Financial Aid Awareness Month reminds us of the opportunities available to make higher education accessible and affordable. Let’s work together to discuss how we can best support your family’s education funding journey.
If you or anyone you know needs assistance on this topic or has questions, do not hesitate to reach out.
1Education Data Initiative, February 3, 2025.