Understanding the Federal Application for Student Aid (FAFSA)

Everyone knows that college costs are soaring, especially those of us who are students! Every year tuition and other related expenses increase and some colleges already have tuition exceeding $160,000. Despite this trend, American families are still sending their children to college in record numbers.

Most families offset the high cost of college by applying for some type of financial aid by submitting their Free Application For Federal Student Aid (FAFSA) . Unfortunately, many people lose out on financial aid simply because they fail to apply. Some incorrectly believe they will not qualify, while others are intimidated by the application process itself. To help students (and parents) better understand the financial aid process, the Federal Student Aid website has created a full-color Financial Aid e-Book which outlines the many federal aid programs available and the steps necessary to apply.

Important notes :

  1. Submit your FAFSA as close to January 1st as possible. Financial aid is awarded on a first-come, first-served basis.
  2. Ensure that the information you include in your FAFSA is accurate. Any corrections you have to make may delay your financial aid package. Such delays could cause a reduction in the amount of aid available.

For more financial aid information, visit my How to Apply for Financial Aid post. For scholarship information, perform a free scholarship search.

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