FAFSA Form & Financial Aid Form Blog

Before I touch on the title subject…remember this…FAFSA is free! There is no harm in filling it out, even if you think you do not qualify for Federal Aid…you will never know unless you fill it out. Federal Aid eligibility is based on certain criteria that varies per individual and school. So fill it out. Ok, back on track…if you fill out your FAFSA and your school tells you that you are not eligible for Financial aid (which happens quite often)…do not stop there. The Stafford Loan IS financial aid…even though it is a loan that you have to pay back, it is considered a form of financial aid. What does this mean for you, the student? 1) You cannot get a Stafford Loan without filling out the FAFSA first. 2) Filling out the FAFSA does not automatically mean you applied for the Stafford loan. You still need to fill out the Stafford Loan Master Promissory Note. 3) You must collaborate with your school’s Financial Aid Office in order to receive this loan….why? Because it is financial aid!! Although the Stafford Loan may be a bit of a hassle to receive…it is still the best borrowing option for an undergraduate student because it has the lowest interest rate, the best repayment options, and the best borrower benefits…that may not seem important now, but you will be thankful for when you are a graduate paying back your loans.

As the first half of the school year comes to an end, it is never to early to start planning for the next upcoming year. The 2007-2008 FAFSA forms are now available for you to fill out at The Student Loan Network.

Why start so early??? Well, the sooner you complete the FAFSA the better your chances on receiving more money from your school are. This applies especially to those loans that are awarded on a first come first serve basis. Such as, Pell Grants, Perkins Loans, and Scholarships. Also, don’t forget to have all your tax information updated and on hand for filling out the FAFSA. Furthermore, since you will be on a much needed holiday break it should be a good time to get yourself settled and prepared for the upcoming year. This way you can enjoy your summer vacation and be as stress free as possible going into the new year. Happy Holidays!

Suggested links:

Ms. Stafford and Financial Aid Podcaster’s BLOG
ActEducationLoans.com