FAFSA and You | 02.12.10
To open, I’d like to ask a simple question: Have you filed your FAFSA yet? If no, you should know that the FAFSA is one of the most valuable financial aid tools in a student’s arsenal (besides scholarships and grants, which are the best) because it shows the government and your school that you need money for college.
In the eyes of your future school, neglecting to file a FAFSA is equivalent to leaving a gigantic tip on on a small meal – you only do it because you don’t care, or money is no object. Depending on your level of need, there is potential to get a significant portion of your cost of attendance financed at attractive interest rates, and/or qualify for a Pell Grant, which you do not need to pay back. Also, the FAFSA applies to both undergraduate AND graduate students.
So why the urgency? “I read on the Government website that my FAFSA isn’t actually due until June 30, right?” — Technically yes, but the real answer is no. In the case of colleges and universities, the financial aid department of your school will actually set a separate financial aid deadline in order to give themselves enough time to put together everyone’s aid packages.
The bottom line: The longer you wait to file your FAFSA, the less chance you have of receiving an excellent financial aid package from your school. Also, be on the lookout for a separate school-only financial aid form – sometimes they require more than just the FAFSA to evaluate your need; you can contact your financial aid office to ask if there are more forms involved.
One last thing! Don’t forget to send your FAFSA to all the schools you applied to. When you are completing the application, there will be an option toward the end to add the receiving schools by school code… just make sure you get them all in there and you will be A-OK paperwork-wise when your school begins to review financial need.
ScholarshipPoints Redemption Code: FAFSA2K10
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