The most common hurdle people face when pursuing international higher education is financing their education. The tuition fee and cost of living could appear hefty to many students and their families. However, students can reduce these costs multifold, thanks to the scholarships and financial aid made available by various governments, universities, and other institutions.
If you're planning your higher education in the United States, your starting point for financial aid will be the FAFSA or Free Application for Federal Student Aid. You must file the FAFSA if you want to receive any federal financial aid, including grants and loans.
What is FAFSA?
FAFSA stands for Free Application for Federal Student Aid. It's a form that students in the United States can complete annually to determine their eligibility for financial aid for college. The information on the FAFSA is used by the federal government, state governments, and colleges and universities to determine a student's eligibility for grants, scholarships, work-study programs, and loans. The FAFSA is designed to make college more affordable for students and their families by helping them access financial aid to pay for tuition, fees, room and board, books, and other college-related expenses.
Eligibility for Federal Student Aid
U.S. citizens, nationals, legal permanent residents, and individuals with an Arrival-Departure Record from U.S. Citizenship and Immigration Services showing specific designations, including refugees, are eligible to apply for federal student aid.
To be eligible for federal financial aid, you'll need to:
Be a U.S. citizen or eligible noncitizen with a valid Social Security number (with certain exceptions).
Have a high school diploma or a GED certificate.
Be enrolled or accepted for enrollment in a qualifying degree or certificate program.
Maintain satisfactory academic progress while in school.
Not default on federal student loans or owe money on a federal grant.
You'll also need to show some level of financial need. This comes through your expected family contribution (EFC) or Student Aid Index (SAI). Your EFC or SAI calculates how much your family should pay on your behalf. It also determines the amount of money you can receive through federal programs.
eligibility for the FAFSA application
We highly recommend that anyone applying to a higher education program in the United States fill out the FAFSA application. Your higher ed programs could include public and private universities, career-track programs, and undergraduate and graduate degrees – almost all formal education beyond high school.
How could you lose eligibility?
Here are some situations that may cause you to lose your eligibility for federal financial aid:
Your grades slipped: Not making or keeping up satisfactory academic progress means you could lose your eligibility.
You forgot to renew: FAFSA requirements include submitting a new application every year you're enrolled in school and need financial assistance. If you forgot to renew the form, you wouldn't get additional funding for the following year.
Your parents didn't file taxes: You may still be eligible for unsubsidized federal student loans, but you won't qualify for grants, work-study programs, or other need-based federal aid.
You defaulted on student loans: If you've had student loans that you didn't repay, there's a chance that they went into default. This makes you ineligible for the grant.
Your citizenship status expired: If you were an eligible noncitizen, but your status expired, you'll lose eligibility until you can reinstate it.
Documents NEEDED for the application
First, you must fill out the FAFSA with a Federal Student Aid (FSA) identification number. You will use this information to sign in to the federal student aid website and the FAFSA. You can obtain your FSA ID through the FAFSA website by providing basic information, such as your date of birth and social security number. In addition, if you are a dependent student, one of your parents must obtain an FSA ID.
deadline TO APPLY
Most students complete the application in their senior year of high school starting on 1st October. However, different schools may have different deadlines, so check with each school you apply to.
Benefits of FAFSA application
There's serious money on the line
There's serious money on the line, as filing a FAFSA can provide you access to more than $150 billion in college grants, work-study funds, federal student loans, and specific state-based aid. These funds can help offset the cost of tuition, room and board, textbooks, and other educational expenses. Not filing a FAFSA could mean missing out on thousands of dollars in financial aid. Additionally, some colleges and universities may require students to submit a FAFSA in order to be considered for scholarships, so it's important to file one to maximize your opportunities for financial assistance.
It's free and quick to complete
The first "F" in FAFSA stands for "Free." The application is available online, and you don't need to pay a fee to submit it. That's important because it means that everyone has an equal chance to access the financial aid they need. It also means that you don't have to worry about spending money to get money.
Another advantage of filing the FAFSA is that it's relatively easy to complete. According to the US Department of Education, it takes an average of 21 minutes to complete the application. That's not a lot of time to spend if it means you could qualify for thousands of dollars in financial aid. Plus, the online application walks you through each step of the process, so you don't have to worry about getting lost or confused. If you're not comfortable filling out the FAFSA online, you can also request a paper copy by contacting the Federal Student Aid Information Center.
It can be essential for some schools
It's not only for those who need federal student loans, but also for those seeking grants, scholarships, and work-study funding. Even if you think you won't qualify for aid, it's worth filling out the application as you may be eligible for some form of financial assistance.
In addition to federal aid, many states and colleges also use the FAFSA to determine eligibility for their financial aid programs. This means that by completing the FAFSA, you may qualify for state-based grants and scholarships, as well as institutional aid from the college you plan to attend. Some private scholarships also require FAFSA completion as part of their application process.
Filling out the FAFSA is also important because it helps colleges determine your Expected Family Contribution (EFC), which is the amount your family is expected to contribute towards your education. This number is used to determine your eligibility for need-based aid, so it's essential to complete the FAFSA accurately and on time to maximize your chances of receiving aid.
Common Mistakes Made on the FAFSA
Not registering for an FSA ID before filling out the FAFSA
One common mistake that many students and parents make when filling out the Free Application for Federal Student Aid (FAFSA) is not registering for an FSA ID beforehand. The FSA ID is a username and password that serves as a legal signature and allows applicants to access and electronically sign the FAFSA. Without an FSA ID, applicants won't be able to make corrections to their application or pre-fill the form with information from previous applications. Additionally, it's important to note that the FSA ID registration process can take up to three days to complete as the information provided is confirmed through the Social Security Administration.
Creating an FSA ID is a crucial step in the FAFSA application process, and it's important to do it before attempting to fill out the application. The process of creating an FSA ID is straightforward, and it involves providing personal information such as the applicant's name, date of birth, Social Security number, and contact information. It's important to ensure that the information provided is accurate and matches the information on the applicant's government-issued ID to avoid any errors or delays in the application process.
Missing Deadlines
Missing deadlines is one of the most common mistakes students make when filling out the FAFSA application. Many students wait until the last minute to complete the application, not realizing that missing the deadlines can significantly reduce their chances of receiving financial aid. While the federal deadline for submitting the FAFSA application is June 30th, many states and colleges have their own deadlines. Therefore, it is recommended to complete the FAFSA application as early as possible to avoid missing out on financial aid opportunities.
Another important point to keep in mind is that some financial aid programs are awarded on a first-come, first-served basis. Therefore, submitting the FAFSA early is crucial for students who wish to maximize their financial aid eligibility. Moreover, students who submit their FAFSA application late may miss out on certain types of financial aid programs, such as work-study programs, which have limited funds available.
Using an Incorrect Social Security Number
Using an incorrect Social Security number on the FAFSA application is one of the most serious mistakes you can make. Your Social Security number is a unique identifier that's linked to your personal information, including your tax and financial records. If you input the wrong Social Security number, it could result in a delay or rejection of your FAFSA application. Worse yet, it could lead to an identity mix-up with someone else who has the same or similar name as you.
If you accidentally use the wrong Social Security number, it's important to correct it as soon as possible. You can do this by logging back into your FAFSA application and making the necessary changes. However, if you've already submitted your FAFSA with an incorrect Social Security number, you may need to start over with a new application. This can be a time-consuming process and could cause a delay in your financial aid award. To avoid this mistake, make sure you double-check your Social Security number before submitting your FAFSA.
Not listing schools where you plan to apply
One of the most common mistakes students make when filling out the FAFSA is forgetting to list all the schools they plan to apply to. This can be a costly mistake, as schools will not receive your financial aid information if they are not included on your FAFSA. This means you could miss out on valuable financial aid opportunities, as well as potential scholarships or grants that could make a significant impact on your ability to afford college.
To avoid this mistake, it's important to take the time to research the schools you plan to apply to and make sure they are all listed on your FAFSA. Keep in mind that the online FAFSA allows you to list up to 10 schools, while the paper version only allows for four. It's also important to double-check that you have listed the correct school codes, as errors in school codes can delay processing of your FAFSA and potentially impact your financial aid award.
By listing all the schools you plan to apply to on your FAFSA, you can ensure that each institution receives your financial aid information and has the opportunity to provide you with the aid you need to make college more affordable. Don't let this common mistake cost you valuable financial aid opportunities – take the time to carefully consider all the schools you plan to apply to and make sure they are included on your FAFSA.
Failing to use your Legal Name
One of the most common mistakes that students make when filling out the FAFSA is failing to use their legal name. The name on the FAFSA application must match the name on government-issued identification documents, such as a birth certificate or Social Security card. Using a different name or a nickname can lead to delays in the processing of the application or even disqualification from receiving financial aid.
It is important to note that the name on the FAFSA should also match the name on the college application and any other financial aid applications. If there is a discrepancy, it can raise red flags and cause confusion, which can result in delays in receiving financial aid. Therefore, it is crucial to ensure that the name provided on the FAFSA matches the name on all other relevant documents.
If you have recently legally changed your name, make sure to update your FAFSA application accordingly. You may need to provide additional documentation to support the name change, such as a court order or marriage certificate. By ensuring that your legal name is used on the FAFSA, you can avoid any unnecessary complications in the financial aid process and receive the aid you are eligible for.
Not renewing the FAFSA each year
One common mistake that students and families make when it comes to the FAFSA is assuming that it only needs to be completed once. In reality, the FAFSA must be renewed each year in order to be considered for federal financial aid for the upcoming academic year. This means that even if a student has received aid in the past, they must still complete a new FAFSA for each subsequent year they plan to attend college.
It's important to note that even if a student's financial situation hasn't changed much from the previous year, they still need to renew their FAFSA. This is because the cost of attendance and the amount of financial aid available can change from year to year, and the FAFSA is used to determine a student's eligibility for aid based on the current academic year's information. Additionally, some state and institutional aid programs may also require students to renew their FAFSA annually in order to continue receiving aid.
Failing to renew the FAFSA on time can result in missed opportunities for financial aid, so it's important for students to keep track of important deadlines and submit their FAFSA in a timely manner each year. Some schools and states have early priority deadlines, so students should check with their school's financial aid office to ensure they don't miss any important deadlines.
Sources
Federal Student Aid. Web. 19 Apr. 2023.
If you're a student or parent who wants to learn more about completing the FAFSA application, visit our blog post "9 Steps to Completing the FAFSA Application". This comprehensive guide will walk you through the entire process of filling out the FAFSA, from creating your FSA ID to submitting your application.
Comments