No Foolin’ — The clock is ticking for students seeking financial aid

If you’re a college student seeking financial aid, fill out the Free Application for Federal Student Aid (FAFSA) as soon as you can. Yes, I know, the deadline for submitting the FAFSA is June 30th, but many states and schools allocate funds on a first-come, first-served basis. What’s more, some states have deadlines for filing the FAFSA to be eligible for certain kinds of aid.

There’s no need to wait until your family has all of the necessary paperwork or has filed their income taxes to submit your FAFSA. You can submit the form using estimates, and then update the form to correct any discrepancies.

While you’re at it, be cautious about scholarship and student loan scams. Ads or solicitations from companies may claim they have programs that could make you eligible to receive financial aid, including grants, student loans, work-study and other types of aid. For a processing fee, they say they’ll handle all the paperwork. But experts caution: The only application that will determine eligibility for all programs is the FAFSA.

If you’re contacted by companies or visit websites that say they’ll process your FAFSA for a fee, do yourself a favor and save some money, too. Visit the U.S. Department of Education’s Student Aid on the Web for free information on preparing for and funding education beyond high school. You can complete the FAFSA online, as well as learn about other FAFSA filing options. You also can call 1-800-4-FED-AID.

Blog Topics: 
Money & Credit

Comments

can you still get financial aids even you don't have high school diploma? or it does required to have?

This blog refers to students who are seeking financial aid to attend college or career schools. Check out the webpage of the Federal Student Aid, an office of the U.S. Department of Education, for specific eligibility requirements.

The government now requires students to have a diploma or GED to receive federal aid.

My husband has been out of college and is working as a Chiropractor, in a depressed area of Philadelphia. His student loan is through Sallie Mae. He is 42, and won't have his student loan paid up until he is 58! He pays over $1000 a month! What can he do?

SallieMae is a horrible lender. It's really not even a true student loan. They call it something else, Career training. Good luck. We stopped paying ours because we could no longer afford it.

Talk to a reputable financial institution about refinancing the loan. Credit Unions are good because they are not for profit and they are big on helping the community. It sounds like the interest rate is very high...

The student federal aid to submit in online last date is filled with the use onlie jobs

Do I have to do this if I'm in CPS?

Please fill out your fafsa form with a pen, not the computer, and copy it. Do all your paperwork on paper and put it in a safe place, along with any correspondence on your loan. Keep up with your loan religiously: if you feel like you may get behind, get on an income-based repayment plan as quickly as possible. DO NOT take out private loans, for they have even less protection than federal ones. If your credits will transfer, consider spending your first 2 years at a community college. Don't borrow any more than you absolutely need to exist. Get a job while you are in school, preferably an internship in your chosen field.

I'm getting a slew of scam phone calls about getting college aid, but I've never requested it. The numbers range all over the US, but many of them have very noisy backgrounds. I tell each of them to remove me from their list as they have the wrong number, and I have to add the numbers to the block list, but I'd sure like to know how my number got on this scam list to begin with.

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