Have ambitions of pursuing your academic education in your dream school, but the financial burden is weighing you down? Let’s see what is FAFSA and how it can help you secure a seat in your targeted college.
The Free Application for Federal School Aid (FAFSA) is a form for government education grants that helps in financing your academic career on the basis of your need and other records. Many individuals think they can not qualify for FAFSA if their parents generate a good amount of income, which is a misconception. Your financial need may be one of the requirements, but you can still be eligible for financial aid for students if your parents earn well. This includes financial assistance, including federal, state, and school-based aid and merit-based scholarships. If you are eligible for a Pell Grant, the doors are open for you every year. Sign in for your FAFSA Application to avail yourself of the best education with affordability.
Now that you know what FAFSA is let’s see how it works. Free Application for Federal Student Aid aims to determine how much financial aid a student deserves to receive. This includes need-based and non-need-based aid. The types of aid that a student can receive include
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Pell Grant: these are granted to students with exceptional needs in finances. This financial pay does not ask for repayment and is awarded to undergraduates. The amount that a student receives is decided by the financial aid office of the college or university.
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Federal Supplemental Educational Opportunity Grants: FSEOG are available for a few schools and do not need to be repaid. As with Pell Grants, FSEOG is only granted to individuals with limited resources.
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Need And Non-Need-Based Loans: these loans are sponsored by the government and are not available for graduate studies.
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Federal Work-Study: both undergraduate and graduate students can avail of this by working part-time in their college.
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State Aid As Grants And Scholarships
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School-Based Merit Aid
The information that you provide on your application helps your state determine whether you qualify for need-based, non-need-based aid, or a combination of both aids together.
Federal student aid asks several questions from the student as well as the parents to determine the eligibility. This includes names of students and parents, addresses, driver’s licenses, as well as your parents’ income, assets, and investments.
The amount of aid that a student receives from the state depends on different factors. Though most of the students who apply for FAFSA are eligible for some financial aid, the general requirements that every individual should meet include the following
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US citizen or an eligible non-US citizen
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The applying student to be enrolled in a suitable degree or a certificate program
When Should I Fill Out My FAFSA For 2024–2025?
You can fill out a FAFSA application every year online or by mailing it to the provided address. Each state has its own terms and deadlines. For the years 2023-2024, it was launched in October and closed in June 2024. Completing everything within the deadline is the key.
For the years 2024-2025, Financial Aid for student will be available from December 2023. You can use their website for easy access and apply online for FAFSA 2024 by filling out the form and providing the required documents.
Some states and colleges also use financial aid for student to award their students with scholarships and loans. For that, you can check the deadlines set by the college.
How Long Does It Take For FAFSA To Process?
Once you submit your FAFSA application, you have to wait for your higher education grants. It takes time to process the application and could take from a few days to a week. An estimated time for the form to process is given
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Online: When applied online, your federal student aid form will take up to 3 days to process. However, the status of the form can be checked immediately once you have submitted it.
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Mail: When you submit your application via mail, it usually takes more time than an electronic application. The application can take as many as 7 to 10 days to process from the date you mailed it.
