If you wish to obtain student financial aid from the government you need to know about FAFSA.
What is FAFSA?
FAFSA is an acronym for Free Application for Federal Student Aid. FAFSA is an application for financial aid from the federal government. There is substantial amount of data available online on applying the FAFSA. The government Dept. of Education website is a useful resource with lots of information on student aid. Another good option is to download a free education guide that provides step-by-step instructions on how to apply for FAFSA or other financial aid.
Who Can Apply?
Any student wishing to obtain a loan from the federal government can fill out an application. Be sure to fill out the form well in advance so that in case of any problems they can be sorted out prior to the FAFSA deadlines. The last date of application is not the same every year and keeps on varying; however it is generally in beginning of the summer. Also, state deadlines might be different from the federal deadlines.
When filling in the FAFSA, you need to create a virtual account and obtain a FAFSA PIN. This pin will help you when filling out the form and will continue to used whenever you apply for federal government loans. If you have questions about particular school it is almost always better to inquire directly to that school or college institution to which you are applying especially if there are additional formalities or requirements for that particular school. For e.g.some institutions may require that additional forms be filled out when doing the FAFSA.
Term of Aid
The financial aid from the federal government is provided for one year only and is not renewed automatically. You need to apply every year for the continuation of the aid. You may have to meet a number of changing requirements every year for FAFSA renewal.
File Your Taxes
When applying for the FAFSA, you need to have your income tax paid for the previous year. If it is for a dependent student then the income taxes of the parents need to be file too before making an application for FAFSA. Based on your application the government will decide as how much your family can contribute towards your education. They will also determine whether you qualify for Pell Grants and Stafford loans from the government or not.
Pay Attention To Detail
An important thing to keep in mind while filling out the FAFSA is that you must fill all the information correctly as any mistake in filling out the information may delay the processing of your application or may even disqualify your application.
Fill Out Your Application Online
One final tip! Fill out the FAFSA application online rather than on paper; it will help you get results faster and your form will be processed before the paper application and don’t forget the to use and online guide that provides details on financial aid, student grants and loans.
Instantly download a free guide that provides step by step instructions for your FAFSA. This Free Education Guide not only has information on FAFSA, Pell and other financial aid; but provides detailed information on thousands on top US colleges and schools right at your finger tips.
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