For Immediate Release From FAFSA!
The Free Application for Federal Student Aid (FAFSA®) form applies to a single academic year. That means you need to submit a FAFSA form each year—and make sure you meet the FAFSA deadlines for state and college aid to maximize the aid you could receive.
It’s Easy to Renew Your FAFSA® Form
When you log in to renew your FAFSA form, it’s prefilled with certain information from the prior academic year. You’ll need to provide new income and tax information and update any information that may have changed.
Follow These Instructions to Renew Your FAFSA® Form
Log in with your FSA ID username and password at fafsa.gov. Learn what to do if you forgot your FSA ID username or password.
Note: If you log in as a student on the myStudentAid mobile app and are eligible for a FAFSA renewal, the renewal form automatically displays.
Read and learn more HERE!:
https://studentaid.gov/apply-for-aid/fafsa... ********
Accepting Financial Aid
First, accept the financial aid funds you don’t have to pay back.
When your school financial aid office sends you an aid offer, they’ll ask you to indicate which financial aid you want. Look carefully at your options and make an informed decision.
Choosing the Best Financial Aid to Accept
Keep the following in mind when you get an aid offer and are deciding which aid is the best to accept:
Accept Financial Aid in this Order
Free money first (e.g., scholarships, grants)
Earned money second (e.g., work-study)
Borrowed money last (e.g., federal student loans)
Explore Scholarships and Grants
Make sure you understand the conditions you must meet to stay eligible for the scholarship or grant. For instance, you might have to maintain a certain grade-point average to continue receiving a scholarship, or your TEACH Grant might turn into a loan if you don’t teach for a certain number of years under specific circumstances.
Explore Federal Work-Study
You don’t have to pay the money back, but you do have to work for it, so take into account that you’ll have to balance your time between work and studying. Bonus: Research has shown that students who work part-time jobs manage their time better than those who don’t!
Explore Federal Student Loans
You’ll have to repay the money with interest. Subsidized loans don’t generally start accruing (accumulating) interest until you leave school (or drop below half-time enrollment), so accept a subsidized loan before an unsubsidized loan. Next, accept an unsubsidized loan before a PLUS loan.
Use Loan Simulator to calculate your federal student loan payments.
Explore Loans From Your State or Local College
You’ll have to repay the money with interest, and the terms of the loan might not be as good as those of a federal student loan. Be sure to read all the fine print before you borrow.
Explore Private Loans
You’ll have to repay the money with interest, and the terms and conditions of the loan are usually not as good as those of a federal student loan. Be sure to read all the fine print and borrow wisely.
Good to know
Many schools also offer tuition payment plans (a monthly interest-free payment toward tuition). This type of plan may help reduce the amount you need to take out in loans. Ask your financial aid office if such a plan is available.
Deciding Which Student Loans to Accept
If you must accept loans, accept the ones with the most favorable terms and conditions. Usually, that means choosing the federal student loans offered to you. If you are considering getting a state loan, school loan, or private student loan, you should learn about the differences between federal and other loans.
If you have any questions or don’t understand what types of loans are in your aid offer, contact the school. Make sure you understand what you’re accepting and the repayment terms.
Borrow only what you need! If your living expenses are not going to be as high as the amount estimated by your school, you have the right to turn down the loan or to request a lower loan amount. In the aid offer, your school will tell you how to do this.
To determine how much loan money to accept, make a list of your college and living expenses and the resources you’ll have available to pay them; in other words, make a budget to help ensure you borrow only what you need.
Remember: If you don’t accept the full amount of the loan you’re eligible for, you can increase the amount later.
Informing Your School About Aid You’ll Accept
Your student aid offer will include directions on accepting aid. Follow those directions carefully. You might have to enter the amounts you’re accepting in an online form and then submit the form. If you receive a paper aid offer, you might have to sign it and mail it back to the school.
Accepting a loan or grant listed in the aid offer may involve additional steps, which vary depending on the type of loan or grant you’re receiving. Saying yes may be as simple as signing a promissory note—a contract between you and the lender* that specifies the terms and conditions of the loan—or it may include entrance counseling if this is your first federal loan.
Read and learn more HERE!:
https://studentaid.gov/complete-aid-proces... ********
FAFSA® Deadlines
Yes, there are FAFSA® deadlines, and we’ve got them right here. Don’t miss out on financial aid opportunities.
Completing the Free Application for Federal Student Aid (FAFSA®) form allows you to be considered for federal student aid. In addition, states and colleges use FAFSA information to award their own grants, scholarships, and loans. But, since aid is limited, you have to meet the deadlines!
Federal FAFSA Deadlines 2022–23 Academic Year
The FAFSA form must be submitted by 11:59 p.m. Central time (CT) on June 30, 2023. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 10, 2023.
2021–22 Academic Year
The FAFSA form must be submitted by 11:59 p.m. Central time (CT) on June 30, 2022. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 10, 2022.
College FAFSA Deadlines
Each college may have its own deadline. Check with the college(s) you’re interested in attending. You may also want to ask your college about its definition of an application deadline. Is it the date your FAFSA form is processed or the date the college receives your processed FAFSA data?
State FAFSA Deadlines
Each state has its own deadline. See the listing below.
2022–23 Academic Year State Deadlines
State
Deadline
Alabama
Contact Your Financial Aid Office
Check with your financial aid administrator.
Alaska
ASAP After Oct. 1, 2021
Alaska Education Grant: As soon as possible after Oct. 1, 2021. Awards made until funds are depleted.
June 30, 2022
Alaska Performance Scholarship: For priority consideration, submit your application by June 30, 2022. Awards made until funds are depleted.
Alberta
Contact Your Financial Aid Office
There is no state (or province) deadline for Alberta.
American Samoa
Contact Your Financial Aid Office
FIND YOUR STATE DEADLINE HERE!:
https://studentaid.gov/apply-for-aid/fafsa...
Posted By: agnes levine
Friday, April 29th 2022 at 1:23PM
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