If you have decided to attend college did you know that there are many expenses that you have to cover? Like tuition books, paper, pens, bus pass etc. All these things can be pretty expensive, if you are just working part-time or do not have the luxury of having lots of money. Have you heard of federal college loan? Did you know that there is no charge to fill out an application for federal student aid, and that it can help you pay for college??? If not please read this!!!The Department’s Federal student aid programs are the largest source of student aid in America. These programs provide more than $80 billion a year in grants, loans, and work-study assistance. By following this guide you too can obtain free money that does not have to be repaid.
If you want to apply for this school year you will need financial information from last year. That means yours and your spouse’s if you are married. Now if you are a dependent student you will need your parent’s last year Federal Income Tax Return.
Another thing you will need is your current bank statements.
If you are not a U.S. citizen you will also need your alien registration or permanent resident card. I advise you to print a FAFSA on the Web Worksheet. In this worksheet write in your answers and gather your parents’ information then transfer the data to FAFSA on the Web.
Visit fafsa on the web to complete and submit your application. It is the fastest and most accurate way to apply for student aid. To save you time make sure you sign electronically with a Personal Identification Number, your parent can sign electronically too. Your eligibility for aid depends on your Expected Family Contribution (EFC), your year in school, your enrollment status, and the cost of attendance at the school you will be attending. Your school’s financial aid office will tell you how much you can receive.
Apply as early as possible beginning January 1st of each year. The financial aid office at your school will use your Expected Family Contribution (EFC) and other information to determine the amount of financial aid for which you are eligible. After your college receives all the required paperwork to process your application you will receive an award letter explaining how much you will receive.If you want to persuade a career in college a federal student loan is a good idea since it will help you with many college related expenses. But remember a federal college loan will not pay for all your college expenses, that is the reason why so many people also apply for a student loan with a different lender.