Students have a lot to think about before high school graduation – what college they want to attend, who they’re taking to prom, what’s going to be on their final exams – so adding one more thing to their plate can seem overwhelming. However, one thing that shouldn’t be neglected is applying for the Free Application for Federal Student Aid, or more commonly known as the FAFSA.
Unfortunately, there are a lot of misconceptions surrounding the FAFSA that can keep students from applying. For instance, some people believe you have to pay to fill out the application (‘free’ is in the name!), or that you can’t gain any benefit if your family has too high of an income.
Filling out FAFSA does a lot more than qualify you for governmental aid. Applying can certainly help you receive governmental funding through grants and low-interest loans, it also often helps you apply for other aid opportunities. Many financial aid programs require a FAFSA, even if household income doesn’t factor into the decision making.
In fact, some schools actually take into consideration if you’ve filled out the FAFSA before they decide on admissions. This is because statistics show that students who apply are considerably more likely to enroll in college then those who do not apply. A school is less likely to offer an admissions letter to a student they don’t believe is going to attend anyway.
Think it’s going to be too much of a hassle to apply? The FAFSA is actually much less cumbersome than in past years, and has been simplified considerably. It now takes under half an hour (roughly 23 minutes on average) to entirely fill out. Don’t leave money sitting on the table – you’ve worked hard throughout your high school career, and this is one way to get the most out of your next educational step!
For more information about the type of financial support Florida Credit Union offers for students, please visit our Student Loan page.
Like this article? Read more here: 5 Tips to Finding Financial Aid