Financial Aid 101: Your Guide to Common Questions

October 14, 2025

An STLCC student meets with a financial aid advisor.

Financial aid can feel confusing, especially if this is your first time applying for college. There are forms, deadlines, different types of aid and a lot of words that may be new.

The good news: you don’t have to understand everything before you start. The most important first step is completing the Free Application for Federal Student Aid (FAFSA). From there, STLCC can help you review your options and understand what comes next.

This guide explains the basics, including what financial aid is, how to apply and where to get help if you have questions.

What Is Financial Aid?

Financial aid is money that helps you pay for college. Depending on the type of aid you receive, it may help cover tuition, fees, books, supplies, transportation, technology or other education-related costs.

STLCC students may receive aid from several sources, including:

The federal government.
The state of Missouri.
STLCC and the STLCC Foundation.
Outside organizations, employers, community groups or nonprofits.

Types of Financial Aid

Financial aid can come in different forms. Some aid does not need to be repaid, while loans must be repaid later with interest.

Type	What It Means	Do You Repay It?
Grants	Need-based aid that can help cover college costs.	Usually no, as long as you stay eligible.
Scholarships	Aid based on things like academics, leadership, financial need, community involvement or career goals.	No.
Loans	Borrowed money used to help pay for college expenses.	Yes, with interest.
Work-study	Part-time job opportunities for eligible students with financial need.	No. You earn money through work.

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Grants: Need-based aid that usually does not need to be repaid as long as you remain eligible. Examples include the Federal Pell Grant and Missouri grants and scholarships.
Scholarships: Aid awarded for many reasons, including financial need, academics, leadership, community involvement, program of study or career goals. Review STLCC scholarships to see available options.
Loans: Borrowed money that must be repaid with interest. If you accept loans, borrow only what you need.
Work-study: Part-time job opportunities for eligible students with financial need. Funds are limited, so applying early can help.

Start With the FAFSA

The Free Application for Federal Student Aid helps determine whether you qualify for grants, scholarships, work-study or loans. Even if you’re not sure you qualify, completing it can open the door to more financial aid options.

Step 1: Create Your FSA ID

Your FSA ID is the username and password you use to access your FAFSA account, sign the form and make updates later. Create your FSA ID.

If you’re a dependent student, a parent or contributor may need to create their own FSA ID too. Each person needs a separate account.

Step 2: Gather Your Information

Before starting the FAFSA, gather the information you may need. This can include:

Social Security numbers for the student and parent or contributor, if needed.
Federal tax returns and W-2 forms.
Records of untaxed income.
Parent or contributor information, if you’re considered dependent.

Having these details ready can make the FAFSA easier to complete.

Step 3: Add STLCC’s School Code

When you complete the FAFSA, add STLCC’s school code so your information is sent to St. Louis Community College.

STLCC school code: 002469

Step 4: Complete and Submit the FAFSA

Complete the FAFSA online. Choose the correct school year and answer each question carefully.

After submitting, review your FAFSA Submission Summary for mistakes. If something is wrong, log back in, make corrections and resubmit.

Step 5: Watch for Follow-Up Requests

Sometimes STLCC or the federal government may ask for additional documents to verify your information. This process is called verification.

Check your STLCC email and Archer Connect often so you don’t miss requests, deadlines or next steps.

Step 6: Review Your Financial Aid Offer

Once your FAFSA is processed, you’ll be able to review your financial aid offer in Archer Connect. Your offer may include grants, scholarships, work-study or loans.

You don’t have to accept every type of aid offered. For example, you can accept grants and scholarships, but decline or reduce loans if you don’t need the full amount.

Step 7: Apply for Scholarships Too

Scholarships can help lower college costs, and many do not need to be repaid. Some are based on financial need, while others consider leadership, involvement, career goals, program of study or personal background.

Start with STLCC scholarships. You can also look for scholarships from community organizations, employers, churches, professional groups and local nonprofits.

For more help, read Pay Less for College: Scholarships for St. Louis Students.

Step 8: Stay Eligible for Financial Aid

Receiving aid is not just about applying once. To keep financial aid, you need to stay eligible.

One important requirement is Satisfactory Academic Progress, often called SAP. SAP usually means you need to:

Keep your grade point average (GPA) above the required minimum.
Complete most of the classes you attempt.
Finish your program within the allowed timeframe.

If you fall behind, you may lose aid. There may be appeal options, but it is better to ask for help early. Academic advising, tutoring and other student support services can help you stay on track.

Common Financial Aid Myths

“My grades aren’t good enough to get aid.”
Not all aid is based on grades. Many grants and loans are based mostly on financial need and eligibility.

“My family makes too much money to qualify.”
You won’t know until you apply. The FAFSA looks at more than income, so it is still worth completing.

“Only full-time students qualify.”
Part-time students may still qualify for financial aid, although the amount may be smaller.

“I have to accept every loan I’m offered.”
No. You can decline loans or accept a smaller amount.

“I only need to complete the FAFSA once.”
No. You need to complete the FAFSA each year you want to be considered for financial aid.

Common Financial Aid Questions

Can I get aid if I’m only taking a few classes?
Possibly. Part-time students can qualify for some financial aid, but the amount may depend on the number of credit hours taken.

Can I change my loan amount later?
Yes. You do not have to accept the full loan amount offered. You may be able to accept a smaller amount or request more later if your situation changes.

What if my family’s income changes after I file the FAFSA?
Contact STLCC’s enrollment services team. They may be able to review your situation if your family has a major income change or other special circumstance.

How do I get a work-study job?
If you qualify for work-study, it will appear in your financial aid offer. Work-study jobs are limited, so respond early and follow application instructions.