It's deadline time for high school seniors who applied to several colleges to pick one. For many, financial aid plays a big role in that decision. The school of your or your child's dreams might be affordable only with the help of loans or scholarships.

Below you'll find links to five comprehensive stories from Kiplinger on the financial aid process, plus a link to a calculator that will help you figure out how much aid you can expect.

Technically, you have until next summer to submit the Free Application for Federal Student Aid (FAFSA) to receive federal funding for the 2008-09 school year. But the federal government doesn't have an endless supply of financial aid. And many states had financial aid applicatison deadlines as early as March.

"By completing the application early and in advance of state and school deadlines, students and families have a better chance of securing cheap or even free money for college," says Martha Holler, spokesperson for Sallie Mae, which provides education loans. "Nearly eight out of ten full-time undergraduates receive some sort of money for college, so it is important to submit a FAFSA to qualify for your portion of the pot of gold."

There's even a chance you or your child will get free money in the form of a grant or scholarship. Studies show that a third of all full-time undergraduates will receive a federal grant that does not have to be repaid. In fact, the federal government started offering two new grants in 2006: the Academic Competitiveness Grant and the National SMART Grant. However, Holler says a recent study suggests that 1.8 million students may have missed out on free money to pay for college simply because they did not apply.

And don't think just because you are an upper-income family that you have no chance of getting financial aid. There are federal, state and institutional financial aid options that are not based on financial need. "Even Donald Trump can submit the FAFSA and receive federal student loans," Holler says.

Plus, the amount of money available to help families pay for college is increasing, Holler says. More than $152 billion in college financial aid was awarded in the 2005-06 academic year compared with $139 billion the previous year, according to the College Board. And changes to the law in 2006 increased federal loan limits and expanded the PLUS Loans for parents program to graduate students, allowing a graduate student to borrow on his own behalf up to the cost of attendance, including tuition, room and board, books and even travel.

We've already told you that you have to apply early if you want to increase your chances of receiving college funding. But what are the sources of funding, how does the process work and what are other ways of improving the odds of getting tuition money? The stories below will tell you everything you need to know about financial aid.

Master the Financial Aid Process
Don't spend a dime for financial aid advice. Simply learn the system, the sources and apply early.

Early Birds Grab the Financial Aid
To get any help with paying the bills, every parent needs to file this form now.

Everyone Should Apply for Financial Aid
You might qualify for funding to help pay college bills -- even if you think your income is too high.

Winning the Financial Aid Game
When you receive a financial-aid offer, don't assume that the numbers are written in stone.

Free Money for Grad School
Here are four things you can do to boost your chances of getting someone to pay for your master's or PhD.

Tool: How Much Aid Can You Expect?
Fill out this simple worksheet to get an idea of how much colleges will expect you to contribute toward tuition.

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