Around March or April, you receive notices from the colleges that accepted you. Congratulations!

They also send you a financial aid letter that tells you:

1. How much your tuition, room and meal plan will cost
2. How much money they are offering you*
3. How much you can borrow in loans from the Federal Government

* Read these offers carefully. Some of the money will be scholarships or grants; but some will be loans you will have to pay back.