Each year, the U.S. Department of Education awards more than $120 billion in federal grants and loans and work-study awards to millions of college students who fill out the Free Application for Federal Student Aid, or FAFSA. Federal student financial aid is an integral part of paying for college, and applying for financial aid will take preparation, time and organization. Although the FAFSA process can be daunting, it can be simplified if you know your deadlines and have all your required FAFSA documents in order.
Every student who is planning on, or even considering going to college should fill out a FAFSA. Even if you think your family earns too much to receive federal aid, it's important that you still complete the FAFSA - many states and colleges use the FAFSA to award grants and scholarships. Plus, the FAFSA is required in order to take out any federal student loans and can help you qualify for lower-cost, forgivable student loans.
You can apply for federal aid on your own when applying for college. For extra help, go online to the Department of Education's website. Your high school's college counselor, and college's financial aid office can also answer any questions you have. Also, many schools offer free workshops on completing the FAFSA and applying for federal student financial aid.
The Free Application for Federal Student Aid, or FAFSA, is the main application for federal aid programs. The FAFSA determines an individual's ability to pay for college. Be sure you complete your FAFSA here for free. Before applying for financial aid, gather the following documents:
You can begin filling out a FAFSA as early as October 1st each year and you must complete a new application for every year you are in school. FAFSA deadlines vary by state and are as early as the February before your financial aid request. Although federal grants are not affected by the date you file, certain states and colleges only award a limited amount of money; on a "first come, first served basis." Try to file your FAFSA be the "priority deadlines" to ensure you receive the best financial aid package possible. Check your state FAFSA deadline here.
If you are an undergraduate under 24, not married, do not have kids, are not a veteran nor a foster child or emancipated minor, you must use your parents' tax information as well as your own, regardless of who is paying tuition. If you are independent from your parents, you can appeal through your school's financial aid office. If you are married, you will need to provide financial information from your spouse as well.
The easiest and quickest way to file your FAFSA is by filling out the application online. By filling out the FAFSA online, you can automatically transfer your income information from tax returns to the FAFSA form via the IRS Data Retrieval Tool. If you wish to file your FAFSA by mail, you can request a paper FAFSA by calling 1-800-4-FED-AID (1-800-433-3243) or 334-523-2691.
Students have until midnight, 12:00 AM Central Standard Time on June 30 file a FAFSA. You will have to file and submit a FAFSA earlier in order to meet state and college financial aid deadlines. You can check out school deadlines here. Scholarships and federal work-study financial aid are doled to students who apply the earliest. Remember, you only have to file a FAFSA once to be eligible for all types of financial aid: federal, state and institutional financial aid.
Your college's financial aid office and your high school’s college counselor have resources that to help you through the financial aid application process. Stay updated with the financial aid process. Remember, when you’re paying for school, every dollar counts.
Latest College & Financial Aid News
September 6, 2019
The federal government discharged more than $43 million in student loan debt for former students of recently closed for-profit colleges. Students who attended programs operated by Education Corporation of America, Dream Center Education Holdings, Vatterott College and Charlotte School of Law will be able to qualify for a full discharge of their federal loans if they were enrolled when their college closed or withdrew within 120 days of the official closure date and didn’t transfer to another institution, according to Inside Higher Education. [...]
August 30, 2019
College Board is ditching its previous plan to capture socioeconomic information from students with a single score - also known as an "adversity score" - when scoring their SAT college admissions test. The score would have taken into account a student's socioeconomic background and the neighborhood in which they grew up. [...]
August 20, 2019
Female-only college and university STEM programs are coming under fire for male discrimination as they attempt to "redress gender imbalance" in fields such as computer science and engineering. The U.S. Department of Education launched more than two dozen investigations into higher education institutions nationwide - including UC Berkeley, UCLA and USC as well as Yale, Princeton and Rice - which offer female-only scholarships, awards and professional development workshops. [...]