subject: Top 5 Myths About The Fafsa [print this page] 1. It costs money to file a FAFSA1. It costs money to file a FAFSA
FAFSA stands for Free Application for Federal Student Aid. There are companies who offer fee-based assistance services for students filing a FAFSA, but completing it on your own through Federal Student Aids website will not cost you anything. You can file your FAFSA for free through www.fafsa.ed.gov.
2. I dont qualify for any aid
Many students believe they arent eligible for financial aid because they make too much money or their credit score is too low. Though federal grants are income-based and need-based, many federal student loans do not take either into account. Click here for more information on eligibility.
3. Its not worth it
The US Department of Educations Federal Student Aid Department reports that Federal Student Aid programs are the largest source of aid in America and provides more than $100 billion a year in grants, loans, and work-study assistance. With so much financial aid at stake, the Free Application for Federal Student Aid is definitely worth filing.
4. I cant file my FAFSA until Ive chosen a school
Deciding on the right school should depend on a number of factors. While youre weighing your options, you can list up to 10 schools to receive your FAFSA information. You can easily add, delete, or change your list at any time. Click here to find the perfect school for you.
5. I missed the deadline and I have to wait until next year to file my FAFSA
Though traditional brick-and-mortar schools operate on a traditional semester schedule, most online schools offer more flexibility with start dates. These schools usually offer rolling admissions and allow you to start during the next enrollment period. You can always submit your FAFSA for the current school year and take advantage of upcoming start dates. Your financial aid counselor will be able to give you specific guidance on which FAFSA to file.
