The Free Application for Federal Financial Aid, or FAFSA, opens a new way to fill your FAFSA application with the FAFSA app. Now college students have the option to file from their phones for the first time.
FAFSA gives you access to federal grants, loans and work study opportunities, so it’s important to fill it out in a timely manner. That’s easier than ever this year: You can download the myStudentAid app (iOS and Android) and use it to fill out the form and view all of your loan information, which is particularly useful for low income students who might not have access to an internet-connected computer at home. There are different settings for students, parents and preparers.
Even if you don’t think you’ll qualify for a grant, work-study or other need-based aid, you should fill out the FAFSA. That’s how you’ll qualify for federal student loans (which are preferable to private loans), and for aid from some private colleges as well. “There is no explicit income cutoff. And different types of aid have different awarding criteria,” Mark Kantrowitz, a college admissions and financial aid expert, told U.S. News. In fact, students who don’t file miss out on an average $9,741.05 in aid, reports CNBC.
Here’s a break down of how to get started filling it out. Here’s more information on the process from the Department of Education.
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