FAFSA Deadline Nears, March 2 For Priority
In order to receive consideration as high-priority candidates for federal loans and grants with the lowest interest rates, students need to submit their Free Application for Federal Student Aid, or FAFSA, by March 2.
Later applications will decrease a student’s opportunities for federal assistance. The reason: more competition from other students.
According to the FAFSA website, students submitting their applications rose by 3,000 applicants between 2008 and 2009 and by another 2,000 students during the 2009-2010 academic year.
Every year students around the United States submit their FAFSAs in order to increase their eligibility for federal financial aid, grant, and scholarship opportunities.
Students can submit their applications in order to receive consideration for either the 2009-2010 or 2010-2011 academic year.
By submitting their FAFSA, students make themselves eligible for federal financial assistance that will better enable them to pay for college without undertaking private loans with high interest rates.
The amount of federal assistance a student may receive is often dependent on information registered by parents and guardians on their tax returns.
Federal assistance for college can include:
- Pell grants (which may be in short supply this year)
- Stafford student loans, which parents and guardians can co-sign with students
- PLUS loans for graduate and professional degrees
- Federal loans and college grants for first-generation college students
- Federal loans and college grants for minorities
All students are encouraged to apply for federal assistance as early as possible. The federal government sets priority deadlines – such as the one by March 2 – in order to better assess and qualify students for competitive aid.
First-time and continuing students can make themselves eligible for federal assistance by submitting their FAFSAs at www.fafsa.gov.
Apart from FAFSA, students are also encouraged to investigate financial aid and college scholarships available at their respective universities and colleges.