Completing the Free Application for Federal Student Aid (FAFSA) form might be the most important step you ever take toward obtaining financial aid for college. Submitting the FAFSA form provides information about what types of financial aid programs are available to you. Your FAFSA form submission also helps determine the amount of financial aid for which you qualify. While it is possible to apply for scholarship and grant money using this form, submitting your FAFSA application prioritizes the discovery of federal EDU grant money. Continue reading to learn how to use the FAFSA form to apply for the financial aid you need to attend college.
Over $120 billion in grant monies, work-study funds and student loans are made available by the U.S. Department of Education through the FAFSA form. FAFSA program guidelines are followed by colleges, universities and even state government agencies to determine who qualifies for federal student financial aid, and how much.
The program allows for some flexibility as well. For example, starting your FAFSA application during high school is advisable. This allows you to obtain an early understanding of upcoming college expenses and make necessary plans as applicable. Why is this important? More than thirteen million students have received financial aid for college by submitting a FAFSA form. Preparing in advance is an important part of getting the assistance you need in time for your college enrollment.
Starting your FAFSA application process during your junior or senior year of high school creates the benefit of expediting your application process when the time to officially apply arrives. College applicants acquiring financial aid on-time is a crucial aspect of the acceptance process for most schools. Most educational grant programs require applicants to first complete the FAFSA form. This provides you with a vast amount of information and access to EDU grant programs across-the board.
Examples of grant programs available by using the FAFSA form include:
- Federal Pell Grants.
- Jackie Robinson Foundation.
- American Indian College Fund.
- Hispanic Heritage Youth Awards.
- United Negro College Fund (UNCF).
- FAFSA Grad Plus Loan.
- Direct Subsidized and Direct Unsubsidized student loans.
Once your initial application is approved you will be required to renew your submission every year. Proof of income and U.S. citizenship or legal residency are required. Your expected family contribution (EFC) must be calculated and included in your application.
You must also provide proof of identification, your Social Security Number (SSN) plus proof of any untaxed income and applicable household assets. The renewal, or update process each year takes less time to complete because most of your information and documents were submitted before. Please note: EDU grant program competition is strong. It is vital for you to submit your FAFSA form by the required deadline to obtain the financial aid you need.
