| The federal government has money available for your child to go to college. You must use this money before it is too late and the anti-tax zealots remove all forms of government assisted college financial aide available. You must FAFSA now! |
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Article by Lois Center-Shabazz
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Millions of Americans are balking at the high tax rate in our country. Their cry is to lower taxes by depleting government assisted funding for everything from social programs to education. Parents and students the federal government has money available for your child to go to college. You must use this money before it is too late and the anti-tax zealots remove all forms of government assisted college financial aide available. You must FAFSA now!
Did you FAFSA? That is, did you or your child fill out the free federal financial aide application for college?
Federal college financial aide applications (known as FAFSA), are due soon. The last day to file is June 30, for the following school year. It sounds as though you have a lot of time, but you do not. The process can be long and tedious. File early to avoid missing financial aide because one or more of the requested items did not get in on time. Also, even if you do not have all of the information FAFSA request, you will secure your place in line. The missing information can be included later. The best time to file to insure a good financial aide package is February/March prior to the school year you plan to start college.
Your college must have your correct, complete information by the last day of enrollment for the 2004-2005 school year. For state or college aide the deadline could be much earlier, check with your state financial aide commission.
If you are filing close to a deadline it is best to file over the internet, at www.fafsa.ed.gov. File your tax return as early as possible so you will have it on file before you fill out the FAFSA. Even if you don't have your taxes in, file the FAFSA form anyway. Filing online is also more convenient since you can monitor and check the status of your application online.
For more information about eligibility, requirements, or information about the application, go to www.studentaid.ed.gov. You can also call 1-800-4-FED-AID, 1-800-730-8913.
Applications are available at your high school, local library, local college or more conveniently online at www.fafsa.ed.gov.
Once your application is in, and all your requested information is complete, FAFSA will forward the information to the college of your choice. Be sure to include every single college you think may be interested in attending. There are six spaces to list colleges you may attend on the application. If you don't list a college that you attend your financial aide will be held up and possibly, not of the best quality, since you may only get the leftovers.
To apply for state financial aide, go to your states website or call the college in your state for information. Each state has it's own deadline for financial aide.
Financial aide usually is a combination of loans, grants, and work- study. Because loans have to be repaid, apply for aide only if you need it. Your financial aide award is based on need. Independent scholarships need to be applied for separately, but many of them use the federal or state financial aide application to determine need.
In summation: To get the best college financial aide, apply early, try to get your application in by mid-march at the latest, this will help to secure a front place in line. To keep tract of the progress of your application, apply online. Also, to assure your preferred college is forwarded your application, list every single college you think you will attend on the FAFSA form. To secure a place at the front of the line, apply even if your taxes are not complete. Understand that federal financial aide is based on need and the loans have to be repaid. |
Lois Center-Shabazz is the author of the award-winning book, Let's Get Financial Savvy! From Debt-Free to Investing With Ease, and the critically acclaimed personal finance website: www.MsFinancialSavvy.com |
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