Have you completed the FAFSA? This is a critical component for financial aid and the application is free. Even if you receive a scholarship from the college you plan to attend, you still have to complete the FAFSA. The website is https://fafsa.ed.gov. Make sure you complete it today if you haven’t.
Beware of services that require payment to complete the FAFSA. FAFSA is a free application. Questions can be answered on the FAFSA website and some colleges offer free seminars on how to complete it.
Remember that there are several types of financial aid available:
- grants: monies awarded for various reasons; you don’t have to pay these back
- scholarships: typically, monies awarded for merit/academic achievement; you don’t have to pay these back
There are criteria that should be met for both grants and scholarships. For example, an academic scholarship may require a minimum GPA to receive for a subsequent semester.
- loans: monies that assist in covering college costs; you must pay these back to the loan issuer
One more bit of advice: find the financial aid deadline of your future college and map backwards. This strategy will help you meet the deadline and ensure you are fully considered for financial aid.
Join me for a 1-hour Facebook Live detailed discussion on financial aid with a Q&A session at the end! More information can be found here.