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FAFSA
The FAFSA, or Free Application for Federal Student Aid, is a form you must fill out to be eligible for any financial aid from the federal government to help pay for college or career school in the United States. It’s the gateway to unlocking financial assistance for your education.
Here’s a breakdown of what the FAFSA is and why it’s important:
It’s free to apply: Don’t be fooled by the word “free” in the name – no fees are associated with submitting the FAFSA.
It unlocks federal aid: Grants, scholarships, work-study funds, and loans.
Grants and scholarships don’t need to be repaid, while work-study allows you to earn money to help pay for college expenses.
On the other hand, loans must be repaid with interest, but federal loans typically have lower interest rates than private loans.
Many states and colleges use it too: Your FAFSA information is also used by many states and colleges to determine your eligibility for their financial aid programs. So, even if you’re not sure you’ll qualify for federal aid, it’s still worth filling out the FAFSA because you could be eligible for state or school aid.
It’s easy to fill out: The FAFSA can be completed online or on paper. Many resources are available to help you, such as the Federal Student Aid website and your high school counsellor.