Free Application for Federal Student Aid – Federal student aid is financial assistance through the U.S. Department of Education that’s available if you’re enrolled in an eligible program as a regular student at a school participating in the federal student aid programs. Federal student aid covers school expenses such as tuition and fees, room and board, books and supplies and transportation. This aid can also help you pay for a computer and dependent child-care expenses.
The Federal Government hands out $83 billion of student aid each year and it is the number one source in the country for college financial aid. If you are seeking financial aid, you cannot get anywhere without filing out this form. It is the equivalent of filling out a Federal 1040 tax return and contains all your income and personal information. Every college financial aid office will require this form.
Make sure to fill out your forms early and accurately
Most federal aid awards are handed out on a first-come, first-served basis so don’t wait too long before getting this form submitted. You don’t want to be at the end of the line for this one. The earliest you can fill out your FAFSA is January 1, but most families have not yet filed their tax returns just yet at that time. If you expect a long delay in getting your tax return, then just use your best guess. Fill out the information as accurately as you can, you can make changes later if necessary.
Increase YOUR eligibility
You may be eligible for more financial aid with multiple students in college. If you have siblings who are of college age and are undecided, have them consider attending college. There could be substantial savings to families with multiple college students simultaneously.
You MUST reapply each year
You must fill out the FAFSA each year to receive any financial aid. According to National Association of College Financial Aid Administrators, millions of students miss out each year because they do not apply.
BASIC ELIGIBILITY REQUIREMENTS
- Demonstrate financial need.
- Have a high school diploma or General Education Development (GED) certificate, or pass a test approved by the U.S. Department of Education (ED).
- Have a valid Social Security Number (unless you are from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau).
- Be enrolled in an eligible associate, bachelor, or graduate degree program.
- Be a U.S. citizen or an eligible non-citizen.
- Maintain satisfactory academic progress once in school.
- Certify that you will use federal student aid only for educational purposes.
- Certify that you are not in default on a federal student loan and that you do not owe money on a federal student grant.
- Comply with the Selective Service registration, if required.
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