The Free Application for Federal Student Aid (FAFSA) is the financial aid assistance that students need in order to pay for college. However, this year FAFSA threw a curve ball toward the class of 2017. In years past, this financial aid package would open its applications on January 1st, however due to the rising need for financial assistance and the ever growing competitive school recruitment, FAFSA has allowed the public to file starting October 1st
Here’s a few quick insights of knowledge that you need to know prior to filing your FAFSA application:
1. FAFSA is used to determine the amount of federal aid a student receives based on the student’s parent’s 1040 tax return.Utilizing FAFSA, the end goal is to know how much the family must contribute toward college and determine student grants and loan estimate options.
2. There is no fee for filing FAFSA, however there is a limit, the student can only apply for up to ten schools.
The website to file FAFSA is www.fafsa.ed.gov.
For students the FAFSA must be completed every year in order to receive financial aid.
Before filing it is suggested that you have your parent and their tax documents readily available.
3. You can always make changes to your FAFSA by logging in and Editing the documents.
It is essential that you file with FAFSA because it allows you to receive scholarship and it allows colleges to get in touch with you.The sooner the better. The earlier you file FAFSA the higher estimated financial aid package you will receive.
Halloween isn’t the only thing scary in October, for seniors the upcoming application deadlines ,the continued school work and the need to maintain a social life is a fright all on it’s own. First semester of senior year is all about finalizing applications, the second is dedicating time toward scholarship. Remember success tomorrow starts with dedication today!