It can be a challenge to pay for college, especially as tuition, housing, and textbook prices continue to rise. While many students and their families look to the FAFSA for tuition assistance, the application process may feel overwhelming. Where do you even begin?
That's where we come in! At Knoxville TVA Employees Credit Union, our goal is to help you on every step of your financial journey – and that includes helping you manage college costs. We've put together some resources here.
What is FAFSA?
First things first, let's get familiar with FAFSA so you can get the most out of it! FAFSA stands for Free Application for Federal Student Aid, and it's necessary to apply for federal grants, loans, work-study funds, and other forms of federal student aid. The FAFSA is also often used to determine your eligibility for financial aid from your state or , such as Tennessee Promise, the Tennessee HOPE Scholarship, the Tennessee Reconnect Grant, and more!
Applying for the FAFSA is free. It’s a crucial step for anyone who wants to utilize financial aid to pay for college. With all the recent changes to the FAFSA, you might feel overwhelmed but don't worry. We're here to connect you with valuable resources! KTVAECU® Members get access to some additional tools that can make your college budgeting journey easier.
Check out Ascent!
Ascent is a free resource to help you figure out how to pay for college. The Ultimate Guide to Paying for College covers all the essentials: how to choose a school that aligns with your budget, understand and learn how to manage tuition bills, get the most from financial aid, and learn how to borrow responsibly. Regardless of your education goals, Ascent can guide you through the necessary financial planning and answer your questions.
Other Ways to Cover Costs
KTVAECU® offers other resources for our Members to save for college costs!
Our student loans partnership with Sallie Mae® may help you get the funding you need! Sallie Mae offers loans suitable for any education goals, from undergraduate programs to medical school and the bar exam.
Start saving for college or trade school now with our Educational Savings Account! Earn dividends on your funds and help your future self cover college expenses. This account is a perfect choice if you want to start your savings journey years in advance!
We know college is a big step! With the right resources and planning, you can make it happen. We're here to help you through every step of your financial journey so you can focus on the opportunities (and fun!) your college experience will bring you.