The Free Application for Federal Student Aid (FAFSA) is now available at https://fafsa.ed.gov.
This application may be used for students attending college in the 2017-18 school year. In order to be eligible for federal financial aid, students and parents must complete the FAFSA.
We write often about the importance of applying for financial aid, even if you don’t think you’re qualified to receive it.
But a new study from the National Center for Education Statistics (NCES) found that 1 in 5 students don’t apply for financial aid at all.
In order to compare financial aid awards from different colleges, you need to be able to understand the different out-of-pocket costs for each college–the total cost you’ll have to pay after grants and scholarships are applied.
Your student loan debt can affect your credit, which affects whether you’ll be able to buy a car, house or take out a loan in the future.
But a new study shows nearly half of all student loan borrowers don’t know that, according to CNBC.
Before taking out student loans, it’s important to educate yourself about the types of student loans and understand how interest and repayment work so that you can put yourself in a good position to repay them in the future.
With college costs higher than ever before, and families taking on more debt to pay for college, some students have sought alternative routes to finance their education.
Some students are now using income-share agreements, or ISAs, to help pay for college. With an ISA, students get money from investors and they agree to pay a percentage of their future income to those investors over a set period of time.
There are many factors that determine financial aid eligibility, and it can be difficult to know how much aid you’ll get before you apply.
With college being such a large investment, it’s important to do research and understand how financial aid is determined before applying to colleges in order to maximize your financial aid package.
In a recent segment on Time Money, Lynnette Khalfani-Cox, author of College Secrets: How to Save Money, Cut College Costs and Graduate Debt Free, explains how to maximize your financial aid, the difference between merit and need-based aid, and why you should fill out the FAFSA even if you don’t think you’ll qualify for aid.
Many college-bound students and parents ask us what they should be doing throughout the year to get ready for applying for college and financial aid.
This handy timeline from The College Board shows exactly what steps students and families should be taking from the summer before senior year to May 1 of senior year, the deadline for students to decide whether to attend most colleges.