Continuing your education is great, but it can make the financial situation difficult. If you want to get into college but are struggling with money then you need some federal aid. The first step to getting federal aid is to apply for the Free Application for Federal Student Aid which just about everyone knows as the FAFSA student loans. You don’t even need to know what school you want to go to before you fill it out. The FAFSA will help you get loans and scholarships you would not have received had you not filled it out.
So what exactly is the FAFSA? It is used to figure out how much you or your parents are going to have to pay for you to continue your education and then it will help you figure out if there are any grants or scholarships out there for you. One thing many people don’t realize is the fact that it is actually used by the school out there to help them decide how much money they should give you as well.
To give you an idea of how much filling out a FAFSA can help you, there are about 14 million students who apply for this every single year. About 80 million dollars are handed out in scholarships. The money that is handed out is all controlled by the federal government, and if you don’t fill out a FAFSA you will not be able to get it.
You have a few different options when choosing how to fill out the FAFSA. You can do it as a hard copy and mail it in or you can simply go online and submit it. We are going to be honest with you and let you know that the online one is not only easier for you, it is also easier for the government and they would much prefer you did it via the internet..
If you are wondering how long it will take you to fill out the FAFSA, it will take about one hour. The good thing about doing it online is you can always start to fill it out and then come back to it later, you don’t need to do it all in one sitting. One thing we usually tell people is that they can fill out the FAFSA really quickly if they have the materials they will need in their hand before they start, so make sure you have the following:
• Your most recent (or your parents) income tax return
• Your Tax ID or social security number
• If you drive have your drivers license ready
• Any investments you are involved in
• Your bank statements
• Any untaxed income
Also, keep in mind if you are not a US resident you will need to provide proof of your current residence.
You don’t need to know what school you want to go to but you will need to write down all the schools you think you might be applying for.
By doing that you will help the government know exactly how much you need. Filling out the FAFSA student loans is not a difficult process and can really save you a lot of money.