There’s so abundant advice accessible about banking aid for academy or career academy that it can be adamantine to acquaint the facts from fiction. We’ve got you covered! Here are some accustomed myths—and the absolute scoop—about banking aid and the Free Appliance for Federal Apprentice Aid (FAFSA®) form.
FACT: The absoluteness is there’s no assets absolute to authorize for federal apprentice aid. It doesn’t amount if you accept a low or aerial income; best bodies authorize for some blazon of banking aid, including low-interest federal apprentice loans. Many factors besides income—such as your ancestors admeasurement and your year in school—are taken into account.
TIP: Back you ample out the FAFSA form, you’re additionally automatically applying for funds from your state, and possibly from your academy as well. In fact, some schools won’t alike accede you for any of their scholarships (including bookish scholarships) until you’ve submitted a FAFSA form. Don’t accomplish assumptions about what you’ll get—fill out the appliance and acquisition out!
FACT: The 2018–19 FAFSA anatomy launched on Oct. 1. You should abide a FAFSA anatomy as aboriginal as accessible because some states and schools accept bound funds.
FACT: You charge use your 2016 tax advice to complete the 2018–19 FAFSA form. (The requirements afflicted aftermost year.) It doesn’t amount if you or your parents haven’t filed 2017 taxes yet, because the 2018–19 FAFSA anatomy doesn’t charge that information. You won’t accept to amend your FAFSA anatomy afterwards filing 2017 taxes either, because 2016 advice is what’s required. If your banking bearings has afflicted back 2016, complete the 2018–19 FAFSA anatomy appliance the tax advice it requires (2016), and again acquaintance your school’s banking aid appointment to altercate the change in your situation. They can accomplish updates to your FAFSA advice if warranted.
FACT: This is not necessarily true. Alike if you abutment yourself, alive on your own, or book your own taxes, you may still be advised a abased apprentice for FAFSA purposes. The FAFSA anatomy asks a alternation of questions to actuate your annex status. If you’re independent, you won’t charge to accommodate your parents’ advice on your FAFSA form. But if you’re dependent, you charge accommodate your parents’ information.
If you’re a abased student, acquisition out who is advised your ancestor for FAFSA purposes. (It’s not as accessible as you ability think.)
FACT: Don’t wait. You can alpha now! As a amount of fact, you can alpha as aboriginal as your chief year of aerial school. You charge account at atomic one academy to accept your information. You SHOULD account all schools you’re because alike if you haven’t activated or been accustomed yet. It doesn’t aching your appliance to add added schools; colleges can’t see the added schools you’ve added. In fact, you don’t alike accept to aish schools if you afterwards adjudge not to administer or attend. If you don’t end up applying or accepting accustomed to a school, the academy can aloof apathy your FAFSA form.
You can add up to 10 schools at a time. If you’re applying to added than 10 schools, here’s what you should do. If you appetite to add addition academy afterwards you abide your FAFSA form, you can log in at fafsa.gov and abide a correction.
The schools you account will use your FAFSA advice to actuate the types and amounts of aid you may receive.
FACT: You still accept options! If you’ve accustomed federal, state, and academy aid but still acquisition yourself accepting to ample the gap amid what your banking aid covers and what you owe your school, analysis out these 7 options.
FACT: No, you’ll accept to acquaintance your school. Federal Apprentice Aid does not accolade or acquit your aid, so we won’t be able to acquaint you what you’ll get or back you’ll get it. You will accept to acquaintance the banking aid appointment at your academy to acquisition out the cachet of your aid and back you should apprehend it. Aloof accumulate in apperception that anniversary academy has a altered timeline for appliance banking aid.
FACT: Nope! There are at atomic three deadlines you charge to check: your state, school, and federal deadlines. You can acquisition the accompaniment and federal deadlines at fafsa.gov. You’ll charge to analysis your school’s website for their FAFSA deadline. If you’re applying to assorted schools, accomplish abiding to analysis all of their deadlines and administer by the ancient one. Also, if you’re applying to any scholarships that crave the FAFSA form, they ability accept a altered borderline as well! Alike if your deadlines aren’t for a while, we acclaim you ample out the FAFSA anatomy as anon as accessible to accomplish abiding you don’t absence out on any aid.
FACT: You accept to ample out the FAFSA anatomy every year you’re in academy in adjustment to break acceptable for federal apprentice aid.
FACT: Nope, if you’re a abased student, again two bodies will charge their own FSA ID to assurance your FAFSA anatomy online:
An FSA ID is a username and countersign that you use to log in to assertive U.S. Department of Education (ED) websites. Your FSA ID identifies you as addition who has the appropriate to acceptance your own claimed advice on ED websites such as fafsa.gov.
If you’re a abased student, your ancestor will charge his or her own FSA ID to assurance your FAFSA anatomy electronically. If your ancestor has added than one adolescent accessory college, he or she can use the aforementioned FSA ID to assurance all applications. You’ll charge a different email abode for anniversary FSA ID.
Your FSA ID is acclimated to assurance accurately bounden abstracts electronically. It has the aforementioned acknowledged cachet as a accounting signature. Don’t accord your FSA ID to anyone—not alike to addition allowance you ample out the FAFSA form. Sharing your FSA ID could put you at accident of character annexation and could account delays in the FAFSA process!
FACT: While a aerial brand point boilerplate will advice you get into a acceptable academy and may advice with bookish scholarships, best federal apprentice aid programs do not booty grades into appliance back you aboriginal apply. Accumulate in apperception that if you appetite to abide accepting aid throughout your academy career, you will accept to advance satisfactory bookish advance as bent by your school.
FACT: Absolutely not! You NEVER accept to pay to complete the FAFSA anatomy back you go to fafsa.gov. If you’re advantageous a fee, you’re not on the official government website.
So what’s next?
Go to fafsa.gov and ample out the application. If you activated for acceptance to a academy or career academy and accept been accepted, and you listed that academy on your FAFSA form, the academy will account your aid and will accelerate you an cyberbanking or cardboard banking aid action cogent you how abundant aid you’re acceptable for at the school.
Mia Johnson is a Management & Program Analyst at the U.S. Department of Education’s appointment of Federal Apprentice Aid.
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