Complete Guide to the FAFSA

Despite the considerable growth of attendance in higher education institutions for the past decades, the value and relative costs of college degrees have become a hot topic of debate now more than ever before. In this article, we are going to provide a complete guide to the FAFSA.

For many years, students believed that earning a college degree is their best ticket to living a financially safe and comfortable life. Today, however, there are doubts here and there that question if a college degree is indeed worth its price. One of the key reasons behind such doubts is the continuously increasing amount of student loan debts.

But despite all of these warnings, statistics reveal that those with college degrees have more chances of earning higher income and making it big in the job market.

The good news is that there are now things you can do before you even enter college that can benefit your wallet after graduation. The first, and definitely the most important of them all, is filling out FAFSA form.

What is FAFSA?

FAFSA stands for Free Application for Federal Student Aid. It is a form that will determine the aid that you are eligible to get as a student. Almost $170 billion worth of student aid is allotted by the federal government itself annually. They also decide who will receive how much of this money according to the data indicated in your FAFSA form.

This is only one of the opportunities that you can enjoy thanks to FAFSA form. Many states usually use FAFSA applications when determining a student’s eligibility for state aid, with most colleges also use this form to identify the amount of private aid they can offer to potential students.

To put it simply, if you have plans to go to college soon, one of the things that you should do is submit your FAFSA application.

How to Determine If You are Eligible for FAFSA

Most students are probably eligible for FAFSA. You should fill out your FAFSA form if you could check off the categories in the list below:

• You are a US citizen, an eligible non-citizen, or a US national.
• You have GED or high school diploma.
• You have an SSN or Social Security Number.
• You haven’t defaulted on any student loans.
• You don’t have refunds owed on federal student debts at the moment.
• You aren’t found guilty of possessing or selling illegal drugs whilst receiving federal student aid.
• You are either not a male of 18 to 25 years old or you are registered with US selective service.

The following types of student are eligible as well:

• You have a non-traditional family.
• You have unique immigrant status.
• You don’t depend on both or one parent.

What Can You Get with FAFSA Application?

There are three forms of aid that you might be able to get access to if you fill out the FAFSA:

• Grants
• Loans
• Work-study

Make sure you fill out your FAFSA form soon for you to pursue your education and increase your chances of having a better and brighter future ahead of you.