Student Loan Info

FAFSA is the Free Application for Federal Student Aid that can be filled out annually by all current students and students planning to enroll in college (grads, undergrads, and sometimes parents). Filling out this FAFSA student loan paper will determine eligibility for federal student financial aid including Pell grants, Stafford loans, PLUS loans, and work study programs.

You should know that FAFSA consists of several questions about the students finances as well as their parents in most cases. There are questions regarding the parents because it is assumed that if the child is still a dependent then their parents will be contributing to their college education. If this is not the case you can always appeal to have the parents information taken off.

The FAFSA will not have any questions concerning race or religion.

Any student planning on using federal money to finance their college education must complete this application. You should fill out the application as early as possible. Sometimes schools provide financial assistance on a first come first serve basis, so this is why the earlier the better.

You can always make any needed changes to your FAFSA just as long as you fill it out. There are deadlines on when the FAFSA is to be completed at certain schools as well so be sure to check on these deadlines with the school or lender you choose. Nearly every student qualifies for some type of financial assistance regardless of income or circumstances.

Just a few quick facts about FAFSA student loans:

• They are required by almost all colleges and universities in the United States.
• They are used to determine all students eligibility for any federal or state financial aid, grant, or loan.
• If you have any errors on your FAFSA it can result in a delay in processing.
• Paper applications for FAFSA can take a few weeks to be processed and electronic applications can be processed in a few days.
• The earlier you submit your FAFSA the maximum amount of assistance you will be able to receive.
• You can complete this application on your own although it is better to complete it with a financial aid advisor.
• FAFSA on average take about one to two hours to complete.
• Many state and school deadlines do fall before IRS tax filing date. Individual schools and states FAFSA deadlines vary.
• You must complete a new form every year to be eligible for most financial aid.