
FAFSA, or the Free Application for Federal Student Aid is available for all incoming or enrolled college students. FAFSA is intended to identify which students should be awarded financial aid to assist with their schooling.
How to Apply for FAFSA
1. Create an FSA ID.
To apply for FAFSA, you must have an Federal Student Aid ID. FAFSA can be accessed online at studentaid.gov, or with the MyStudentAid app. Your FSA ID can be created with the website or with the app, and the process is relatively quick and easy.
2. Ensure you have all the proper information.
As you apply to FAFSA, there are a few pieces of information that you must have. The required information includes:
· Social Security number
· Family income
· Personal income
· A list of colleges you would like to apply to
3. Fill in General information.
As you begin to apply to FAFSA, you will be required to fill out a form. The first section of the form will be information about your demographics. This section is about personal information, such as your name, age, and birthday. Then, you must enter all the colleges you are considering. You do not have to apply to all the colleges that you enter in your FAFSA application, but applying to all potential university options can ensure that you will be eligible to receive all the aid that is possible. The last section is to determine whether you are a dependent of your parents.
4. Fill in Parent Information
Parental information is still required, regardless of your state of dependency. The form may ask you to include your parents’ names, mailing addresses, or state of employment.
5. Fill in Personal Financial Information
You will be expected to enter financial information related to your own income, if you are employed, and the income of your parents.
6. Sign and Submit
Once you are certain that all your information is accurate, you will have to electronically sign your form, and you are able to submit.
If your application is approved, then you will be eligible to receive money from the university that you will attend in the following year. Depending on your application, there are three different types of aid that you may be awarded.
· Gift Aid — With Gift Aid, the money is free, similarly to money given with a scholarship. Gift Aids differ from scholarships, because academic achievement is not a considered factor as it is with scholarships.
· Employment — Student employment money is usually received through Work-Study programs. These programs allow students to have a part time job during the semester, and these jobs, like Gift Aids, are typically given based on the financial need of the student.
· Student Loans — Student loans must be repaid. Any student, even those who are wealthy, can apply and receive student loans.
FAFSA could reap benefits for students of all financial standings. Since the application is fairly simple, it would be advantageous for all college applicants or enrolled students to fill out FAFSA.
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