The increasing cost of education is often the reason why people don’t pursue their dreams. But that shouldn’t be the case. Fortunately, there are online colleges and universities that accept FAFSA or Free Application for Federal Student Aid.
Every family in the country, regardless of how big or small, should consider applying for financial aid when sending someone to college. Let’s admit it, paying educational expenses such as tuition, books, and boarding isn’t a joke. So it is best to seek some form of help be it from the federal government, the state, or the school itself. Hence, it is only logical for everyone to know how FAFSA works.
Often, a family refuses to seek financial help for college education because they assume that they exceed the income requirement of the program. But in reality, most families in the country are eligible to receive financial aid from the state. Likewise, students with great financial needs can take advantage of grants or even subsidized loans from the federal government.
To request financial assistance from the federal government, applicants must accomplish the official FAFSA form. The state and the school also rely on the said form in evaluating applications for scholarships and grants. The FAFSA helps identify if a family qualifies and the amount they can receive.
FAFSA determines an applicant’s eligibility for need-based grants and subsidized loans from the federal government. It also defines which students qualify for scholarships, grants, and loans provided and offered by the state. Likewise, school-based merit aids require FAFSA to be on file before awarding any financial assistance.
The general requirements for FAFSA eligibility state that a student must have exceptional financial need, a U.S. citizen or an eligible resident, and enrolled in an accredited certificate or degree program in a career school or college. Keep in mind, however, that FAFSA isn’t a grant or a loan. It is simply a form that you fill out to determine whether a student qualifies for college aids. There are more requirements an applicant must meet in order to receive financial assistance.
