What is College Financial Aid Series
The Free Application for Federal Student Aid or FAFSA is the form and process you need to complete to qualify for federal financial aid. All of the colleges and post high school education programs that offer federal financial aid requires the completion of the FAFSA. The process is available on October 1st, for the upcoming school year starting after July 1st of the same year. This change begin in October, 2016 due to the Department of Education change called Prior Prior.
The process requires the applicant and their family to submit financial information on income and some assets. The FAFSA information generates a number called your Expected Family Contribution (EFC). It is recommended that every person complete the FAFSA form. No matter what your financial strength, the student will qualify for a Stafford Loan.
The FAFSA is now linked to the IRS system for information verification.
The FAFSA video will cover the following items:
- Timing of form completion
- Link to the IRS
- Reason why you should complete the form
The FAFSA form and process is an important part of understanding your college funding. If you need professional college financial aid help with the FAFSA, please visit our Sources page.