FAFSA scholarships Second only to the question of where to apply to college is the question of how to pay for it. For many American students, the costs associated with college attendance can be quite prohibitive.
General Questions about Eligibility and Applying 1. I probably don't qualify for aid. Should I apply for aid anyway?
Many Fafsa scholarships mistakenly think they don't qualify for aid and prevent themselves from receiving financial aid by failing to apply for it.
In addition, there are a few sources of aid such as unsubsidized Stafford and PLUS loans that are available regardless of need. There is no good excuse for not applying. Do I need to be admitted before I can apply for financial aid at a particular university?
You can apply for financial aid any time after October 1. To actually receive funds, however, you must be admitted and enrolled at the university.
Why can't Fafsa scholarships submit my financial aid application before October 1? You cannot submit the form before this deadline because the need analysis process uses your financial information from the prior tax year when calculating eligibility for the upcoming award year.
Do I have to reapply for financial aid every year? Most financial aid offices require that you apply for financial aid every year. If your financial circumstances change, you may get more or less aid.
Note that your eligibility for financial aid may change significantly, especially if you have a different number of family members in college. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GPA.
How do I apply for a Pell Grant and other types of need-based aid? To indicate interest in student employment, student loans and parent loans, you should check the appropriate boxes. Checking these boxes does not commit you to accepting these types of aid. You will have the opportunity to accept or decline each part of your aid package later.
Leaving these boxes unchecked will not increase the amount of grants you receive. Are my parents responsible for my educational loans? Parents will only be responsible for your educational loans if they co-sign your loan.
In general you and you alone are responsible for repaying your educational loans. You do not need to get your parents to cosign your federal student loans, even if you are under age 18, as the 'defense of infancy' does not apply to federal student loans. The defense of infancy presumes that a minor is not able to enter into contracts, and considers any such contract to be void.
There is an explicit exemption to this principle in the Higher Education Act with regard to federal student loans. However, lenders may require a cosigner on private student loans if your credit history is insufficient or if you are underage.
In fact, many private student loan programs are not available to students under age 18 because of the defense of infancy. If your parents or grandparents want to help pay off your loan, you can have your billing statements sent to their address. Likewise, if your lender or loan servicer provides an electronic payment service, where the monthly payments are automatically deducted from a bank account, your parents can agree to have the payments deducted from their account.
But your parents are under no obligation to repay your loans. If they forget to pay the bill on time or decide to cancel the electronic payment agreement, you will be held responsible for the payments, not them. Why is the family contribution listed on the SAR different from the family contribution expected by the university?
The federal formula for computing the expected family contribution is different from those used by many universities. In particular, the federal formula does not consider home equity as part of the assets.
If I take a leave of absence, do I have to start repaying my loans? The subsidized Stafford loan has a grace period of 6 months and the Perkins loan a grace period of 9 months before the student must begin repaying the loan.
When you take a leave of absence you will not have to repay your loan until the grace period is used up. If you use up the grace period, however, when you graduate you will have to begin repaying your loan immediately.
It is possible to request an extension to the grace period, but this must be done before the grace period is used up. If your grace period has run out in the middle of your leave of absence, you will have to start making payments on your student loans.Special Circumstances and Petition for Independent Status.
Types of Financial Aid. Financial Aid Programs. NerdWallet's FAFSA Guide How to Get Free Money for College. Apply for scholarships and grants, which don't need to be repaid, as well as student loans, by submitting the FAFSA.
Forms Quickly locate important forms and submit information to the University Office of Scholarships and Financial Aid.
Welcome to the University of Arizona! Thank you for taking the time to learn more about us. As home to some of the brightest minds from all over the world, the UA is an outstanding place to learn and grow. Undergraduate scholarships and graduate fellowships are forms of aid that help students pay for their education.
Unlike student loans, scholarships and fellowships do not have to be repaid. The Office of Financial Aid assists University of Maine at Machias students and families finance their education. Through the administration of federal, state and university aid programs, our goal is to make financing students’ education as easy as possible, while providing the tools and resources necessary to become financially successful.