FAFSA Student Financial Aid Help Guide
FAFSA is meant to make life easier for students and their parents. It\’s an acronym for applying for Federal Student Aid, and one of the few things the federal government is doing right. Of course, there are certain procedures to be followed when applying for a Pell Grant or a federal student loan, so let\’s take a brief look.
The first thing that is needed is a PIN number. This PIN serves as each student\’s unique electronic signature. It is important to get it and keep it safe without disclosing it to anyone, especially to commercial service providers.
Application is easy, and all it takes is for the student to fill in an online form. The PIN can then be used to apply for federal student aid, to access records and modify information in the application, track applications, etc. In other words, the PIN number serves as a student\’s online identity in the federal educational system.
The next step is to apply for the aid. This should always begin with the grants and scholarships, then move to the work-study programs (if any), and then to loans. After all possible options for scholarships and federal aid have been tapped, only then should the student consider student loans from private lenders.
The best place to start is with a Pell Grant, which doesn\’t have to be repaid. Eligibility criteria are simple and dependent on the undergraduate status of the student and the family\’s expected contribution. The maximum possible grant amount is set each year, but within that, the actual amount approved is need-based.
To sum it up, FAFSA applications are the first thing that needs to be done by students applying for federal student aid. Apply for a Pell Grant and any available scholarships, and if necessary apply for a federal student loan. If it is still not sufficient, then look at education loans offered by private lenders.
Looking for more information on FAFSA? Get the low down instantly in our super overview of all you need to know about Pell Grants and federal student loans on http://www.easyaid.com/
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