FAFSA
The FAFSA (Free Application For Federal Student Aid) is the mothership for helping students
pay for college. It comes from the government and is the single largest source of financial aid.
Pretty big deal, right?
Here’s how the FAFSA works. Each year, literally millions of high school seniors (and current
college students) submit the FAFSA form. The government uses this form to award grants
(free money), loans, and work-study options based primarily on students’ needs. They’re
working with a pot of about $95 billion (yes, that’s billion with a ‘B!’) to divide among students.
Each year, January 1 is the first date you can begin to file your FAFSA. But instead of waiting
until every single application has come in, they begin awarding dollars as soon as they begin
receiving applications.
So when do you think you have a better chance to receive more money? At the beginning,
before the majority of students file their application and the government has a full pot of
$95 billion or near the deadline when they get flooded with forms and the money is starting
to run low?
Exactly.
Even if you think your family makes too much money and you won’t qualify, you should
still file your application as soon as possible. You never know.
now what?
1. Go to http://www.fafsa.ed.gov to get familiar with the process. The simplest thing to do
is fill out the form online, so I’d recommend going that route.
2. Download the FAFSA form so you see what information they need and can start
gathering that stuff. You’ll need one parent’s involvement since the FAFSA will require their
tax return information and signature.
3. File your FAFSA on January 1 of your senior year. Use your Christmas break to get
everything ready, so you can fill in the questions, hit ‘submit’ and get a quicker response.
The FAFSA (Free Application For Federal Student Aid) is the mothership for helping students
pay for college. It comes from the government and is the single largest source of financial aid.
Pretty big deal, right?
Here’s how the FAFSA works. Each year, literally millions of high school seniors (and current
college students) submit the FAFSA form. The government uses this form to award grants
(free money), loans, and work-study options based primarily on students’ needs. They’re
working with a pot of about $95 billion (yes, that’s billion with a ‘B!’) to divide among students.
Each year, January 1 is the first date you can begin to file your FAFSA. But instead of waiting
until every single application has come in, they begin awarding dollars as soon as they begin
receiving applications.
So when do you think you have a better chance to receive more money? At the beginning,
before the majority of students file their application and the government has a full pot of
$95 billion or near the deadline when they get flooded with forms and the money is starting
to run low?
Exactly.
Even if you think your family makes too much money and you won’t qualify, you should
still file your application as soon as possible. You never know.
now what?
1. Go to http://www.fafsa.ed.gov to get familiar with the process. The simplest thing to do
is fill out the form online, so I’d recommend going that route.
2. Download the FAFSA form so you see what information they need and can start
gathering that stuff. You’ll need one parent’s involvement since the FAFSA will require their
tax return information and signature.
3. File your FAFSA on January 1 of your senior year. Use your Christmas break to get
everything ready, so you can fill in the questions, hit ‘submit’ and get a quicker response.