What FAFSA Is And Why Everyone Should Apply!

https://fafsa.ed.gov/

The 2018-19 FAFSA (FAFSA = Free Application for Federal Student Aid – the one and only application you fill out to apply for federal financial aid like grants, work-study, and student loans) is now available for high school seniors and college students all over the country since  October 1st. American Leadership Academy and StepUp Utah are holding a FAFSA Completion Night on Thursday, October 19 from 5:00 to 8:00 pm in Mr. Scheiss’ room. (310) 

https://americanleadershipacademy.org/fafsa-completion-open-house-for-ala-seniors/

But wait? What is the FAFSA?  It is completely understandable why many don’t know what it is.  So in the event you are unsure what it is and in case you think you might want to apply, here are some really good reasons why all high school seniors should.

• This application is actually important for every student that wants to attend college.  What the FAFSA determines is whether or not a student is eligible for federal aid in the form of Pell grants or student loans.  This is the ONLY way students will know whether they are eligible or not for Pell grants.  Well then, what is a Pell grant?

•  “A Pell Grant is a subsidy the U.S. federal government provides for students who need it to pay for college. Federal Pell Grants are limited to students with financial need, who have not earned their first bachelor’s degree, or who are enrolled in certain post-baccalaureate programs, through participating institutions.” Basically, a Pell grant is free money that the government gives to students that show financial need, and then students do not have to pay that money back.  There are certain requirements that a student must meet when accepting a Pell grant (such as committing to going to college at least part-time), but most students have no problem fulfilling that part-time requirement.

• If you do not qualify for a Pell grant, you may qualify for student loans.  The great thing about applying for this aid is that you DO NOT have to accept a student loan that might be offered to you through the FAFSA.  Even if you qualify for a student loan, there is no reason that you have to accept it other than if you NEED to.  If you have been able to secure funding through savings, scholarships, Pell grants, parent’s bank account, etc., there is no reason that you have to accept a student loan.  It is just good to know that in the event that funding doesn’t completely come through, you may have a last resort if you need it.  Student loans do have low interest and easy re-payment plans if this is the path you take as many students do.

• Students also should apply for the FAFSA if they are planning on applying for scholarships.  There are many scholarships that require you fill it out, especially those that are needs-based.

• Many colleges will also want you to apply for the FAFSA.  Once you do, the information is sent to the schools of your choice for their review.  Many times schools will award Merit scholarships based on what your FAFSA might say.  If you are just shy of qualifying for Pell grants, but almost qualify for a Merit scholarship, they may just award that student the Merit scholarship based on the information they received.

As you can see, there are many reasons why everyone should apply for the FAFSA.  ALL high school seniors of ALL levels of parent income should still apply. I would encourage all seniors to apply today.  You never know what benefits might come from taking a half an hour to fill it out.  I hope this information helps!

The FAFSA4caster is a free financial aid calculator offered by the Department of Education and Federal Student Aid that gives you an early estimate of your eligibility for federal student aid. This information helps families plan ahead for college costs before the senior year of high school when students and parents will complete and submit the FAFSA (Free Application for Federal Student Aid).

If you’re in 11th grade or below, you can find FAFSA4caster at fafsa.gov and click on the appropriate box under “Thinking About College?”with your family to find out how much federal financial aid you may qualify for and plan ahead for college costs.