Photo Copyright: ©Vitalii Vodolazskyi – stock.adobe.com
By: Luisa Fernanda Andreu
If you are a college student, then you may be already familiar with what FAFSA is and what it can be in your education. FAFSA, the Free Application Federal Student Aid, is a form required for students who want to be considered for federal financial aid. It is used by colleges to determine who qualifies and is eligible for grants and scholarships, as well as low-interest student loans. This form is completed each year they wish to receive aid for tuition and student expenses.
Your taxes filed from last year is what FAFSA uses to determine the amount of money and aid you are eligible to receive. If you are listed as a dependent on your parents’, guardians’, or spouse’s tax return, those are the taxes you use to fill out the form.
Every year, FAFSA benefits over 13 million students, giving out a whopping $120 billion dollars in grants, scholarships, and payment plans with low-interest loans. As you know, the past two years have been very difficult for many families in the United States. Perhaps you never considered applying for financial aid but this pandemic has put your family or your economy in a bad situation and you may need help from this federal aid. Take your time while filling out this form because your 2021 tax returns may not reflect any economic distress you may be suffering today.
Check out everything there is to know on the government’s education website, www.ed.gov. It has an amazing Help and Support section that will guide you towards getting all the help you can so you can either start your college degree or continue it.
Never let your economic situation keep you from achieving your dreams. There are a lot of things you can do to pursue your career. You just need to ask and educate yourself on how to do it.
The opening date to submit is Oct. 1 before the school year begins. So you have a 21-month window from the opening date to the deadline to submit your FAFSA form each year (Please check your state on the official website for the deadline).
