The FAFSA is an important part of the college application process, but it can feel a little bit larger than life if you’ve never completed the paperwork. For some students, the application feels overwhelming and instead of figuring it out or asking for help, they skip submitting it. However, by not submitting the FAFSA, families and students are missing out on potential aid to help pay for school! That’s why I’m busting 5 FAFSA myths so you can feel more confident about applying this year!
Myth: “I Won’t Qualify for Aid, So I Don’t Need to Apply.”
Fact: Many families are surprised to learn they qualify for grants, work-study, or low-interest loans, regardless of income level. Whether or not you think you’re going to qualify, it’s always worth submitting your application. You never know what might come of it – and if you don’t, there’s definitely no way you’ll receive aid!
Myth: “FAFSA is Only for Federal Aid.”
FAFSA is used by states and colleges to determine eligibility for their own financial aid programs, making it crucial even if you don’t expect federal aid. Again, if you don’t apply, you’ll never know. So make the time to submit your FAFSA as soon as possible!
Myth: “You Only Need to Submit FAFSA Once.”
FAFSA must be submitted every year to maintain eligibility for financial aid throughout college. Make sure you pay attention to the deadlines each year, otherwise you will not receive any aid for that year of school. Many students forget about this and wind up losing out on aid!
Myth: “I should wait until I’m accepted to complete the FAFSA.”
Fact: Once you know that you’re applying to schools and the application is open, you should file the FAFSA! Don’t wait for acceptance letters to arrive. Instead, complete your application. You’ll have to list at least one school to submit the application, but you can add up to 20 so feel free to add any you plan to apply to.
Myth: “It costs money to submit the FAFSA.”
Nope! If you’re paying for FAFSA, something is wrong. Now, help – like College Financial Aid Advisors – may help you prepare the application for a fee. But submitting the actual FAFSA is completely free!
Now that you know a little more about the FAFSA, it’s time to submit your application! Take your time and check for accuracy, add your schools, and turn it in so you can hopefully qualify for funding. Best of luck!
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CFAA helps with the financial aid process, from completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.