Hello parents,
As we near graduation, I am sure that many of you have begun to consider plans for after high school, and whether or not that may include higher education options for your student. A large factor to take into consideration is finances. This email will be primarily sharing details about the FAFSA and how it pertains to student aid.
Many families with children in college do not file a FAFSA. Some believe they are not eligible for aid. Others think the form is just too complicated. But anyone who fills out the FAFSA will at least qualify for a federally insured, low-cost loan—and perhaps other valuable aid such as Pell grants.
You can select up to ten colleges to receive your SAR. (You can add more colleges later.) You will
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Filling out the FAFSA is not nearly as difficult as many believe. Not only is it necessary for receiving federal student financial aid, but it also is the means by which colleges verify and create financial aid awards. The FAFSA (Free Application for Federal Student Aid) is a form that must be completed before a student receives any funding for college. The federal deadline for the 2017-2018 school year is June 30, 2017. Keep in mind that if your FAFSA paperwork is not processed by the time the fall semester begins, you may be required to pay tuition costs out of your own pocket, and then be reimbursed when your funding arrives. States and colleges have their own deadlines, many of which have recently passed or are just around the corner. If you’d like to receive state or college-specific aid in addition to federal funding, you must apply …show more content…
You’ve got 120 days from the start of the fall semester to cancel your federal loan without being charged interest or fees. Of course it’s best to cancel the loan now, before you’ve actually got a check in hand.
Below I have outlined the steps for filling out the FAFSA:
Step 1: The FAFSA references several documents, be sure to have the following handy.
Paperwork checklist:
Social security Number
Driver's license or state ID
Last year's W-2 forms
Untaxed income records
Last year's Federal Income Tax Return
Current bank statements
Current business and investment records
Step 2: Set up a Student Account.
Log on to FAFSA.gov. A student account allows completion of the application over multiple sessions and remains active while the student is enrolled in a degree program.
Step 3: Determine Eligibility
Certain requirements must be met in order to qualify for federal financial assistance, including:
Financial need
Satisfactory grades
Degree candidate
U.S. Citizen
A valid SSN
High school diploma or GED
Step 4: Determine Dependency
A series of questions will be asked to help classify a student as dependent or independent:
24 years or older?
Have a spouse?
Have children?
In a Masters or PhD