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FASFA benefits

What are the benefits for applying to fasfa? #school

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Roger’s Answer

In order to be considered for Financial Aid, you MUST file for FAFSA. 


It all begins with completing FAFSA to be eligible for scholarships, Federal student aid, state grants, work-study programs, and loans. 


After filing FAFSA, you will receive notification from FAFSA about what you / your family will be responsible for paying to send you to college. The “Expected Family Contribution (EFC)” is dollar amount that FAFSA designates for you to pay for college. The "EFC" is based on a number of factors like where you go to school, how many siblings are in college, family income, etc.


Based on the Expected Family Contribution, you will learn that: 


** For many students, you will be thrilled to know there is FREE money available to go to college.


** For many students, you will learn that there is not “free money,” but loans will be available which will help you pay for college.


** And, for many other students (like my kids), you will learn that you are not eligible for a dime. Thus you are on your own.... and FAFSA is a cruel joke. 


 

Again, the benefits for applying for FAFSA is that in order to be considered to receive financial aid, you MUST apply for FAFSA.
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Debbie’s Answer

I would add to Roger's answer:

- You may not qualify for financial aid (scholarships, grants, etc.) based upon financial need due to your EFC, however, you can receive merit scholarships/money from a school. [my daughter received thousands in merit from some schools]. These can be based upon your high school achievements eg., grades/GPA, extracurricular activities. I suggest you look into the Financial Aid at the schools you are interested in to see what is available and also at non-school affiliated scholarships (there are many online sources).

- Many schools require the FAFSA to be filed in order to work on campus. Not all campus jobs are need-based. You can work as a student manager of one of the athletic teams and get paid (and typically lots of free school swag!)

- Your family financial situation can change during a school year and it is easier to update the FAFSA and then maybe get money

Good Luck!
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