Do it now: Complete the FAFSA

Jan 31, 2018 | Uncategorized

Why is it important for every student to complete a FAFSA

(Free Application for Federal Student Aid)?

  • According to the National College Access Network (NCAN), “Ninety percent of high school seniors who complete the FAFSA proceed directly to college, versus only 55 percent who don’t complete the FAFSA.” Do it now:  Complete the FAFSA!
  • Research from the Department of Education shows that 90% of the high school seniors who complete a FAFSA attend college within 12 months. Do it now: Complete the FAFSA!
  • Every year, the S. Department of Education gives over $150 billion in federal grants, loans and work-study funds to more than 13 million college students, making it the largest provider of student financial aid in the country. Do it now:  Complete the FAFSA!
  • Completing the FAFSA is the first step toward getting financial aid for college, career school, or graduate school. Federal Student Aid provides more than $150 billion in grants, loans, and work-study funds each year, but you have to complete the FAFSA to see if you can get any of that money. Do it now: Complete the FAFSA!
  • Many states, schools and scholarships also use the FAFSA to award financial aid, so every college-bound student should complete it. Do it now: Complete the FAFSA!
  • Completing a FAFSA gives students a better chance at more state and school financial aid. Schools and states have a limited amount of aid, so students are encouraged to complete their FAFSA as soon as possible. Do it now: Complete the FAFSA!
  • Many colleges and state higher education agencies look at a prospective student’s FAFSA to determine what financial aid they can offer from their own funds. Most schools will have their own deadlines for the FAFSA, often in early March. Do it now: Complete the FAFSA!
  • If you submit your FAFSA early there’s a chance that colleges will give you an estimated financial aid offer early, giving you more time to compare colleges before the college decision deadline. Do it now:  Complete the FAFSA!
  • A completed FAFSA provides more scholarship eligibility. Some scholarships look at your FAFSA results—and some of those scholarships have early deadlines. Don’t miss some golden opportunities. Do it now:  Complete the FAFSA!
  • Some financial aid you can get from the FAFSA isn’t based on financial need; there are a lot of academic scholarships that require a student to submit a FAFSA. Do it now:  Complete the FAFSA!
  • By not filling out FAFSA, American college students are missing out on a seriously good deal. Federal grants do not need to be repaid, federal student loans have low interest rates and work-study programs can be a convenient way to simultaneously fund an education and build a resume. Do it now:  Complete the FAFSA!
  • Many students choose not to apply for FAFSA because they think that federal college financial aid is only available for those less fortunate than they are. But in fact, most Americans are eligible, so if you think you don’t qualify, think again. Do it now:  Complete the FAFSA!
  • When students do not apply for FAFSA, many revert to private student loans, which often have high interest rates and lack the consumer protections that federal student loans include. The Institute for College Access and Success reports that 47 percent of private loan borrowers could have used more affordable federal loans. By completing the FAFSA form, students can make sure that they are taking advantage of the best student loan options. Do it now:  Complete the FAFSA!
  • National College Access Network (NCAN) reports that students are leaving billions of dollars of aid on the table each year. NerdWallet estimates that students missed out on $2.7 billion in free FAFSA college aid in 2016. This money went unclaimed mainly because of incomplete or un-submitted Free Application for Federal Student Aid forms. Do it now:  Complete the FAFSA!
  • State officials report that Iowans left nearly $25 million in grants and scholarships unclaimed by not completing the FAFSA. Do it now: Complete the FAFSA!
  • In a study by NerdScholar, the higher education team at NerdWallet, data showed that students have an 85% chance of being awarded financial aid by simply completing the FAFSA form. Do it now: Complete the FAFSA!
  • The FAFSA is the key to unlocking college aid, including federal direct loans and Pell Grants, the largest source of federal funds for college. Unlike a student loan, grant money doesn’t have to be paid back.  Do it now:  Complete the FAFSA!
  • In the 2016-17 academic year, 1,234,249 high school graduates didn’t fill out the FAFSA. Of these graduates, 648,191 would have been Pell eligible. By submitting the FAFSA, they could have earned an average of $3,583 in Pell Grant money. Do it now: Complete the FAFSA!
  • NerdWallet’s analysis shows that the average amount of money left on the table per eligible high school graduate who didn’t apply was $3,583. The total amount left on the table by all such grads was $2,319,016,315 in 2017. Do it now: Complete the FAFSA!
  • FAFSA is free. Use only the FREE government website to complete your form fafsa.ed.gov  Don’t be tricked into using a .com address where it’s possible to end up paying for FAFSA.  Do it now:  Complete the FAFSA!
  • There are great FREE resources in Nebraska and Iowa to assist with financial aid advice. Talk to a school counselor, admissions representatives from your colleges of interest, EducationQuest (Omaha), or ICAN (Council Bluffs) offices.  Do it now:  Complete the FAFSA!
  • If you think you can’t afford college, there is even more reason to complete the FAFSA since there are need-based programs to financially assist you! Do it now: Complete the FAFSA!
  • Here are some excellent sources of information as you complete your FAFSA:

https://www.nerdwallet.com/blog/loans/student-loans/college-students-fafsa-money/

http://www.finaid.org/educators/20110118nofafsareasons.pdf Do it now: Complete the FAFSA!