Hello all and happy 2010! We have now entered the most wonderful time of the year; FAFSA season! If you are a senior in high school filing the FAFSA should be number one on your current priority list.
When it comes to financial aid one of the most common questions that people ask is, “do I really need to submit a FAFSA?” The short answer is 100% yes! No matter who you are and how much money your parents make you should file a FAFSA. A common misconception is that when you fill out a FAFSA you are only applying for need-based financial aid. People think that if they make over a certain amount of money they will not qualify for any aid. This is not necessarily true.
When you fill out and submit a FAFSA you are essentially applying for four different types of financial aid:
- Grants: Grant money is financial aid that does not have to be repaid. Most grant money is based on financial need.
- Scholarships: Like grants, scholarship money does not have to be repaid. Most scholarship money is awarded based on a student’s academic achievements.
- Work-study: Work-study money is earned through a job on or near campus. Work-study money does not have to be repaid.
- Loans: Loan money, including subsidized Stafford loans and unsubsidized Stafford loans, is awarded by the government and must be repaid with interest.
So file you FAFSA today! If you need help with it or have any questions about it download the 2010-2011 FAFSA form guide. This guide goes through the FAFSA step-by-step to make sure you can tackle the form efficiently and accurately. Good luck and may 2010 bring you abundant financial aid.
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thanks! useful info.
thanks didn’t know that infomation been told the complete opposite
Thank you it makes so much more sense now.
I’m so glad to learn about all of this!
Filling mine out soon
good info.
thanks for the information. i didn’t know you sould get other types of money with fasfa!
Good to know! I have been stressing over this forever.
You should have your parents w2 and 1040 form when you apply for the FAFSA.
this article is insightful, but I have already filled out my FAFSA.
Hey thank you so much!
I finally filled out my FAFSA
I have completed 80% of my FAFSA.!
thanx!
Can I use 2008 tax return to file my FAFSA since I haven’t done my 2009 tax return?
I just got my FAFSA filled =]
FAFSA truly saves thousands!
I`m getting the professionals at Edifi to fill my FASFA
this helped me alot, thank you.
thanks for this article. the fafsa takes quite a bit of time to fill out, especially if you are required to do it with your parents, but in the end it will all be worth it!
already filled out my FAFSA!
Thanks for clarifying the differences between grants, scholarships, work-study, and loans.
Makes sense. Thanks!
When will I receive an answer?
This article was very informational.
How likely are you to be able to receive a substantial amount of grant money if you have a big family and have only one disability parent income?
thank you for this article it is helpful.
This information was very useful