FAFSA (Free Application for Federal Student Aid) For 2023-24
FAFSA also known to many as Free Application, gives students easy access to the largest source of financial aid for college or career school. To apply for federal student aid, students complete a form.
These aids list such as federal grants, work-study, and loans. The information you have with FAFSA can be used by many states and colleges and some private financial aid providers to determine if you qualify for their aid.
Most parents with kids going to college consider the price as a key factor in choosing their child’s school. Along with the inflation this year, more than half (58%) of the parents stated their want to apply for federal aid but later changed their minds. Subsequently, there are also more than half (53%) of the parents who expressed that they could not afford to pay for their child’s tuition.
FAFSA Annual Availability
The free application is available yearly. FAFSA is always available on October 1 but there are many submission deadlines. As per most states, FAFSA forms submitted early are given priority and initially considered for the aid programs they administer. If you want to check the deadlines, you can find them here.
Incoming college students are to check the deadlines with the schools they are planning to go to. To do so, they must get to the school’s website and look for the dates there. Usually, colleges have their deadlines early in the year.
Applicants must identify the school’s definition of an application deadline is: Is it the date your FAFSA form is processed or the date the college receives your processed FAFSA data? As per federal deadline is 11:59 p.m. CT, June 30. If there are any corrections or updates you need to make after you’ve turned in the application, it must be submitted by 11:59 p.m. CT on Sept. 9.
There are five states that require high school students to complete FAFSA to graduate to ensure they don’t leave money on the table. These state are: Illinois, Texas, Louisiana, Alabama, New Hampshire.
Most college applications are just about due, but don’t forget your Free Application for Federal Student Aid, which can help you find money to pay for school. (Photo: Onto College)
To Have A Complete Applications, These Things Need to be Done
Accoding to a published post by USA Today, your personal and financial information and depending on what your citizenship and other circumstances are, some of the following:
- Social Security number
- Parents’ Social Security numbers, if you are a dependent student
- Driver’s license number, if you have one
- Alien Registration number, if you’re not a U.S. citizen
- Federal tax information, tax documents, or tax returns, including IRS W-2 information, for you (and your spouse, if you’re married) and your parents, if you’re a dependent student:
-
- IRS Form 1040
- Foreign tax return or IRS Form 1040-NR
- Tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau
- Records of your untaxed income, such as child support received, interest income, and veterans noneducation benefits, for you, and your parents, if you’re a dependent student
- Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (but not including the home you live in); and business and farm assets for you and your parents, if you’re a dependent student
READ ALSO: 8.7% Increase In Social Security Income; How Much Will Be Your Monthly Payment?
