February marks National Financial Aid Awareness Month, making it a great time to explore the financial aid options available to college-bound students. Whether you’re a parent or grandparent, understanding these resources can help your loved ones get 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
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 has questions about financial aid, let's talk.
1. Education Data Initiative, February 3, 2025.
Brent Forrest & Associates, LLC. dba Wela Financial Advisory (Wela) is a registered investment adviser. The information presented is for educational purposes only. It should not be considered specific investment advice, does not take into consideration your specific situation, and does not intend to make an offer or solicitation for the sale or purchase of any securities or investment strategies. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. This article and images may have been enhanced by utilizing artificial intelligence (AI). Wela may discuss and display, charts, graphs, formulas which are not intended to be used by themselves to determine which securities to buy or sell, or when to buy or sell them. Such charts and graphs offer limited information and should not be used on their own to make investment decisions.
