Paying for college can be challenging for many families, but many students are eligible for financial aid, student loans, grants, scholarships, and other sources of funding. FAFSA, the free application for federal student aid, is one option for students who cannot cover the costs of their education from other sources.
FAFSA is managed by the federal government and calculates the level of need of each family or individual based on income, employment status, and household need. The FAFSA process takes only a few hours and approval grants a generous sum of student loans for higher education.
The free application for federal student aid or FAFSA is offered by the U.S. Department of Education and can be filled out online and submitted electronically or mailed directly to the financial aid office. Most students now take advantage of the convenience of the FAFSA online process, as this can save both time and money in the application process.
The Federal Student Aid deadlines are between July 1 and June 30 of each year, but each state has its own set of deadlines and requirements. Checking the actual dates with the financial aid administrator will ensure you submit the FAFSA application at the right time, and can receive funds before they run out for your school or state.
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A saved FAFSA application can be reviewed and edited up to 45 days after beginning it, and can even be edited during processing if necessary. You can also check the status of the application between 1-3 weeks after submission.
Applying for federal student aid is a simple process, and many students and families benefit from the student loans available with the program. Making sure you meet all deadlines will ensure your application is approved during the school year you most need it, and help you manage the costs of higher education with ease.