Facts About The FAFSA

The FAFSA is THE form required at all colleges that accept and award federal aid.  (Yes, there are a few that do not participate in the federal financial aid system, but these schools are rare. )

It’s the form that provides your college financial aid officers with the information they need to go ahead and create your financial aid package.

FAFSA stands for FREE Application for Federal Student Aid.

It’s FREE... avoid scams that charge.

It’s available online at www.fafsa.ed.gov.  NOT dot com, NOT dot org, NOT dot anything else.

You can still get a paper version, if you really, really, really want to.  But you don’t.

It utilizes a July-to-June calendar. 

The FAFSA helps determine the awarding of hundres of billion$ in federal aid, as well as state aid.

The majority of colleges also use the FAFSA to determine who qualifies for their own institutional need-based aid.

The FAFSA is based on your current household and your current assets. What you’ve got in the bank and investment accounts on the day you complete the FAFSA.

But the FAFSA wants to know about last year’s (2011) income for your household.

If your parents are divorced or separated, it’s based on the parent you spent the most time with in the previous year.

And your step-parent, if there is one in that household.

Don’t send notes to the federal processor.  They’ll just shred ‘em.  Your concerns and questions should be directed to the financial aid office of the school you attend or are planning to attend.

Your parents saying that they won’t pay for College does NOT grant you independent status. To be considered independent, you have to be 24 years old, married, a military veteran or some other factors you can learn about here.

If you have FAFSA questions, you can the federal government’s hotline at (800) 433-3243.

FAFSA for many is the first stop for financing their college or higher education. Many others avoid it all together for fear of not receiving any funds. Still others won't even apply because they foresee a lot of bureaucracy and red tape and complications. This section of EGuicdanceCounseling.Org is intended to educate you on educating you. 71.4% of Full-Time College Students Get Federal Aid, Averaging $10,500 a School Year. Much of the information we have gathered comes directly from the FAFSA.gov web site. Our attempt is to present it in the simplest manner possible with as much additional online assistance as possible.

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