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Part 4: Answers to Your Questions About the Fafsa

Part 4: Answers to Your Questions About the Fafsa | Western Washington  College Financial Aid | Scoop.it
Mark Kantrowitz, an expert on financial aid, answers select reader questions about the Free Application for Federal Student Aid. Part 4.
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  This article is written by an expert on paying for college and the founder of FinAid.org. He answers some select reader questions about the Free Application for Federal Student Aid in this article. Some major questions that are applicable for me are that, if Fafsa applications are to qualify for loans or aid that does not need to be repaid? What does the term “need-based financial aid” means? For what condition should i apply for Fafsa and when a student is entering her second or subsequent year of college, can she expect to receive similar aid to what she received her freshman year? These questions are anwered in very general tone for better understanding. First of all, students should still file the Fafsa to apply for need-based financial aid. Students and parents often underestimate eligibility for need-based financial aid. If the scholarship actually exceeds your financial need, you will still be able to get the Unsubsidized Stafford and Parent PLUSloans to pay for your remaining share of college costs. Second of all, a student’s financial need is the difference between the total cost of attending a college and the student’s expected family contribution(E.F.C.) toward paying for college. The E.F.C. is calculated by a complicated formula based on the data reported in the student’s Fafsa. The federal government, state government, and most colleges provide financial aid to students based on their financial need. The Fafsa is used to apply for this need-based financial aid, which includes grants (money that does not need to be repaid), education loans (money that must be repaid, often with interest) and student employment (money that must be earned). Lastly, about half of all colleges practice front-loading of grants, in which the proportion of grants to loans in the financial aid package is higher during the freshman year than during subsequent years. So the net price will increase. These answers are very applicable for many students other than myself. Also, the article in general provides great advices and the information in it is very reliable.

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Next Steps | Federal Student Aid

Next Steps | Federal Student Aid | Western Washington  College Financial Aid | Scoop.it
Check if your FAFSA has been processed and learn about your Student Aid Report, how to update or correct your FAFSA, and how to accept and receive your aid.

 

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FAFSA plays an important role in American college students’ life. It not only can support a student’s freedom in education, it can also support the student’s family in financial management. FAFSA is something we should all carefully look at whether or not we are students going to college or parents having children going to college. A lot of questions asked by students or parents are about the consequences that come after the FAFSA application. Frequently, people grow doubt with how they will be informed, how to correct information on FAFSA and so on. Before everyone submits their FAFSA application, we should all read this article to get a more precise idea on what to expect from FAFSA.
On the website of official FAFSA online information center, an article was posted to tell people what to do after students submit their application for student aid. Some of the questions include, “how can I check to see whether my FAFSA has been processed?”, “How do I decide what aid to accept, and how do I accept it?” and so on. The pinpoint of the article can be listed in four main sections. First, a student’s FAFSA information will go to the college that student will be enrolled in and the U.S. Department of Education will send the student a Student Aid Report in order to calculate the aid he or she is eligible for. Second, updating information and corrections of FAFSA application can all be made through the website, www.fafsa.gov. Third, once the student receives Award Letter from the financial aid office of his or her school, the student then can decide what financial aid he or she can receive. (http://studentaid.ed.gov/fafsa/next-steps/accept-aid ) Lastly, the school’s financial aid office will inform the student on how to get the money through paperwork or mail. This article provides links and formal information about the important steps to complete after filling out FAFSA application. These steps are often ignored because they seemed unimportant. However, these are the steps that are extremely essential for students who are applying for federal student aid.

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Scholarship advice from financial-aid professionals | USA TODAY College

Scholarship advice from financial-aid professionals | USA TODAY College | Western Washington  College Financial Aid | Scoop.it
When we're talking about thousands of free dollars, you need all the advice you can get.
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  This article provides many useful facts on applying for financial aid. The tips and facts in this article came from famous educator. For example, Mary Nucciarone, the director of financial aid at Univeristy of Notre Dame, Roberta Daskin, the senior associate director of financial aid a Sarah Larence College, and Laura Diven-Brown, the financial aid director at University of Mississppi. For financial aid preparation, the educators suggest that students should find information through high school counselor, college admissions representative and the Internet. Furthermore, the information in studnets' junior year is usually a better choice. The ariticle also talks about creating a spreadsheet with the name of the scholarship, the organization, required materials and deadlines to track applications, which is what i did and what i will continue to do. For essay and applications, the article suggests that students can get feedback from  family, friends and teachers. some special precautions are that some private scholarship databases include awards that charge application fees. There also are businesses that offer to search for scholarships for a fee, but the organization may be reputable. Personally, i agree on all the suggestions that were mentioned in this article, however i am a little concern about getting feedback on the content of my scholarship essays due to the fact that essay can often tip the decision if all other factors seem equal among applicants. Overall, this is a good article to look at for financial aid suggestion.

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