Because price is of paramount importance to students--and to their parents--here's a thumbnail sketch of the kinds of student financial aid that may be available:

• Grants do not need to be repaid. Some are awarded based on financial need; others recognize academic ability or performance in areas such as music or athletics. Independent institutions furnish significantly more grant aid per student that state universities do to help offset their higher tuition prices. In addition to this institutionally provided aid, there are many scholarships sponsored by foundations, corporations, or other organizations.

• Loans must be repaid, usually starting after graduation. Many education loans feature low interest rates and generous payback schedules. The federal government sponsors a number of student loan programs, as do some private lenders and colleges themselves.

• Jobs on campus or during summer breaks provide income to offset expenses and can be important sources of experience.

State-funded programs available to Hoosier students include:

• Grants based on financial need (visit SSACI)

• Academic performance awards, which supplement need-based aid

• Scholarships for special skills areas, including (but not limited to) nursing, special education, minority teachers, or children of disabled veterans

Indiana also offers two special programs to help make college more affordable:

• Twenty-First Century Scholars Program: Provides substantial grants to students from low- and moderate-income families. Students commit in the eighth grade to take courses in high school that will prepare them for college and pledge to avoid drugs and alcohol.

• Indiana Family College Savings Plan: An innovative state program that provides significant tax benefits to families who save for their children's education.

Tips for making the financial aid process easier

• Plan early and observe deadlines! It's never too early to save for college (but it's never too late to look into the various options available, either). Make sure to file the Free Application for Federal Student Aid (FAFSA) by the March deadline. After that date, your student may be ineligible for aid from the State of Indiana.

• The  high school  guidance office is a good place to begin the college search. Guidance counselors have helpful college guides, viewbooks, bulletins, and other printed information. Ask about computer-based resources such as CD-ROMs and Internet services and check the links listed elsewhere on this website.

• Check with college financial aid offices. These professionals know the latest changes and opportunities, and they're happy to answer your questions, no matter which college your student eventually attends.

• Advance Placement, Core 40, and honors programs pay! Independent colleges award a great deal of aid based on academic achievement--and college credit for Advance Placement courses taken in high school can save thousands of dollars in college tuition.

• Always file for financial aid, even if you think your family may not need or qualify for it. Keep your options open by filing the FAFSA by the March deadline and checking with the financial aid offices of colleges your student may wish to attend.