Tuesday, January 3, 2017

First Step in Applying for Financial Aid

Historically applications for financial aid were completed after the filing of the income tax return for the previous tax year.  Effective 2016 the application period started October 2016 with the usage of previous year income tax return. So if you are attending college 2017 rather spring, summer, or fall, now is the time to file the FAFSA application. Consider filing as soon as possible as many colleges and universities have early deadline considerations which are different from the acceptance deadlines.
  •      Completed applications along with acceptance will be considered first.
  •      Not meeting the financial aid deadlines does not mean late applications will not be considered.
  •      Meeting early deadlines means first consideration for FREE awards as opposed to loans.

Contrary to popular belief the FAFSA is not just for low income groups, but is required for the receipt or awarding of many scholarships, grants and loans.  Also scholarships are not all financial need based.  Scholarships are based on the sponsor’s criteria.  The sponsor decides the criteria.  Many scholarships are not awarded because students do not apply, assuming that they will not get the scholarship based on false belief.  One thing is certain, if a student does not apply they will not be awarded.  Apply early as many times the awards have a certain quota.

Free Application for Student Aid www.fafsa.gov

This application is free to complete and is the official application. 

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