Four Bizarre Things You didn’t Know about FAFSA | 10.10.10

Posted in FAFSA, Financial Aid By Student Loan Network Staff
  1. Federal law suspends your eligibility for federal student aid, if you have been convicted for the possession or sale of illegal drugs for an offense that occurred during a period of enrollment for which you were receiving federal student aid (grants, loans, and/or work-study).
  2. Even if you are 23 years old, living on your own, paying your own way…the Gov’t still views you as a dependent student…meaning they still use your parents’ income to determine your specific “financial need”…(my advice: just wait a year until you are 24 and considered an adult in the eye of the Feds). More information on what qualifies you as independent can be found here.
  3. If you transfer schools, you MUST update your FAFSA online. You will not be able to receive loans at your new school unless you do this.
  4. FAFSA is not a loan!!!! It is a government form that determines your eligibility for all types of aid, including loans.

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32 Responses to “Four Bizarre Things You didn’t Know about FAFSA”

  1. Iliana Perez says on January 15, 2011 at 10:39 pm:

    Hello,

    My daughter applied for the Pell grans and qualied but now she is applyin to Canada Universities.
    My question is is that Pell grans tranfer outside of United States or what we need to to? she is an American citizen thanks for the help.
    Iliana

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