Figuring Out FAFSA And Federal Student Loan Tips

Figuring out the FAFSA, and federal student loans can seem complicated, however FAFSA and federal student loans are some of the best financing options for college (besides free money options such as scholarships). The trick to FAFSA is simple, do it early, and do it, period! Not filing your FAFSA is a critical mistake in college financing, and could cost you big time in the long run. There are up to 3 forms that a student may have to complete in order to apply for all of the college financial aid that they may be eligible to receive:

1. The federal government’s Free Application for Federal Student Aid (FAFSA)
2. The College Board’s CSS/Financial Aid PROFILE form (this application is used by many private colleges and schools)
3. Some schools may require an individual financial aid form, specific to the college or university.

These college financial aid forms may seem complicated, but by getting started early and utilizing college financial aid resources for help, you will be able to complete the forms by their deadlines and ensure that you receive all of the college financial aid you are eligible for. The college financial aid office is an excellent resource. Many prospective students ignore the benefits of their financial aid office and/or the admissions counseling services they offer. Student loan entrance counseling on the way into school is sometimes required to receive federal loans, but your financial aid office is their to answer any questions, regardless if student loan entrance counseling is a requirement or not. Your schools financial aid staff can provide valuable information about what to expect from the student loan process, as well as answer any questions or address any concerns you may have about repayment.

So, the 2 biggest tips when it comes to FAFSA and federal student loans, is to start early and utilize ALL of the available resources for help. For more help on federal student loans visit our Federal Student Loans section.