Saturday, 2 July 2011

Students Are Encouraged To Fill Out FAFSA For Tuition Assistance

By Michelle Conner


The Free Application for Federal Student Aid, that is often called an FAFSA, is the standardized application available to parents and students as a means to determine their eligibility for financial aid. The financial aid analyzed by this form can be used for both graduate and undergraduate studies. It includes work study programs as well as Pell Grants. The form needs to be updated each year as a student and his or her parents' information changes.

The application form used for FAFSA assesses a student's eligibility options for all student aid programs on the federal level. Additionally, the FAFSA will also gauge a student's ability to qualify for most state and private aid across the country. One can submit a new application beginning on January 1st each year, which will then be used for the upcoming academic year. Staying informed about the most recent information about may speed your success.

Every Free Application for Federal Student Aid form has a validation period of 18 months. These programs are available to students nationwide and will be offered on a first-come-first-served basis. It is for this reason that students should apply as early as possible to prevent qualifying but not being able to receive it due to the aid being earmarked for other qualified students.

The FAFSA application is comprised of over 100 questions that reference specific data concerning students and their family in terms of financial status. These include income, assets as well the student's dependency. This information is then used calculate the EFC -the Expected Family Contribution. The EFC is used to determine the amount of money the student and his or her family will likely need to contribute.

Upon completion of the FAFSA analysis, a student will be sent a Student Aid Report (SAR). This primarily summarizes the information which was previously submitted by the student and his or her family. At this time, a student should review the information to ensure its accuracy and submit corrections as needed. Schools referenced on the student's application will receive the ISIR. This is a similar report to the SAR, which also includes the EFC. Additionally, these reports are sent to the applicable state agencies to determine if any state aid is available.

Most students will qualify for some type of financial assistance even if they don't show any signs of financial need. The Stafford Loan is a viable alternative, offering an unsubsidized student loan independent of a student's financial situation. Students interested in the Stafford Loan can read the details on the website of the government's student aid. Checking the internet for more details about online degrees is a smart move.

A student must meet certain requirements to qualify for student aid. One must be US citizens or reside here legally. He or she must have a high school diploma (or GED equivalent) and a social security number. Recipients must not have defaulted on any student loans in the past or currently owe any money on any other federal student grant programs. Additionally, they must not have been found guilty of possession or the sale of illegal drugs during the time federal aid was given.




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