The Free Application for Federal Student Aid or FAFSA, is a federal program that financially helps students for college or higher education in the United States.
Over the years, the cost of college in the United States has increased drastically. According to Marca, the average cost of tuition was $10,560 for public colleges and $37,650 for private institutions from 2020 to 2021.
You can apply for FAFSA to offset some of these costs and avoid graduating with large loans. The FAFSA is used by local, state, and national government agencies, as well as colleges and private organizations, to award non-federal and federal aid to students. This aid includes scholarships, loans, grants, and federal work-study. Additionally, FAFSA has zero risk – you don’t need to pay a filing fee nor accept any aid you’re awarded if you don’t want to.
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Financially struggling students are the priority for the FAFSA program. Interested applicants are urged to apply early before the FAFSA deadline on June 30. (Photo: Pew Research Center)
How to Apply for FAFSA
FAFSA is usually awarded to students with financial needs. To qualify for FAFSA, you must meet the following requirements:
- Must be a U.S. citizen, permanent resident, or eligible noncitizen
- Have a valid Social Security number
- Must have a satisfactory academic progress
- Currently enrolled or planning to enroll in a qualified degree or certificate program
- Have a high school diploma or recognized equivalent, such as a homeschool certificate or GED diploma
Note: undocumented and international students are not qualified for the federal FAFSA. These students can apply for scholarships through employers, private organizations, or schools.
See: Student Loan Relief Update 2023: Is One-time Payment Adjustment Enough?
FAFSA Deadline
The application started on October 1 last year and the FAFSA deadline is June 30, 2023. The William Peace University urged interested applicants to apply early as (1) financial aid is distributed on a first-come, first-served basis due to limited amounts of resources; (2) those who file early often qualify for more scholarships and grants; and (3) early filing can relieve stress as it creates times for better understanding on which type of aid work best for you. Filing early also removes panic in trying to remember the FAFSA deadlines and other requirements.
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