FAFSA Simplified
I remember when I was in high school and college, the term FAFSA felt like a burden to me. Coming from a middle-class family with parents who were supporting my education, government financial aid seemed pretty much non-existent to me. I even skipped completing the FAFSA form once or twice – yep, a big no-no in hindsight! At times, I confused it with FIFA – well, who doesn’t appreciate a good soccer match more?
To break it down, FAFSA stands for Free Application for Federal Student Aid. Essentially, it’s a lengthy form asking you to detail your financial situation to determine if the government can give you financial help (typically, that answer would be no). This form is crucial for high school seniors to increase their chances of getting financial aid, scholarships, or funding from their selected college or university.
Students from low-income families, listen up! The FAFSA is your ticket to potential scholarships and monetary support, so don’t hold off – fill it out as soon as possible. Scholarships offered by your chosen school are often granted on a first-come-first-served basis, and once the funds dry up, that’s it! Early birds, this is your chance to catch the worm.
Before you tackle this massive form, make sure you have your Social Security or alien registration number, your most recent tax returns and W-2s, bank statements, any investment records, and your federal student aid PIN. This info is also needed for your parents unless you’re an independent student.
Here’s a useful bit of advice: Don’t think of college as something the government owes you. While education up until high school is a right, college education isn’t considered as such. However, the government understands the immense value a college education can offer, hence the provision of this funding system. So, if you’re hoping for a free college ride, it’s best to explore other options, but be sure to still submit your FAFSA form!
For more information on navigating college debt-free, look into acquiring a copy of Zac Bissonette’s Debt-Free U. There’s a unique FAFSA-related piece on Zac’s book at the Free Money Finance website. There’s a contest to win a copy, so get involved before it ends on 1/31.