The US government provides student financial aid for young men and women who are willing to obtain and complete their higher education.
Through these government loans, these young individuals are given the opportunity to complete their degrees without having to worry about the costs of enrollment and other expenses for college.
These government loans come in the form of a federal student loan, which any eligible student can apply for without having to pay any fees, also known as Free Application for Federal Student Aid (FAFSA). Most students apply for this assistance every year of their stay in college.
Here are three easy steps by which you can get FAFSA financial aid.
- Meet the eligibility requirements. This includes the submission of supporting documents. More information can be viewed in detail at the website. In order for a student to be eligible for FAFSA financial aid, he or she must be a United States citizen or permanent resident. Aside from that, the student applying must have a valid Social Security Number, is enrolled in a school that accepts FAFSA financial aid, and is working on getting a degree from the said school. More importantly, this student must exhibit financial need and should not have any drug conviction. Regarding the documents to be submitted, you must provide a copy of your income tax return if you are employed. If you are living with your parents or is a dependent of your parents, you must submit their latest income tax return. You must also submit current bank statements as proof of your financial situation. Other documents may be requested from you as necessary.
- File your application. You generally have two options for this, you can do it the conventional way, which is by filling out the federal student loan application by hand and mailing it, or by using the electronic version, which is also found on the website. Along with this filling in of the application form, you need to sign that electronic form using a PIN, which you or your parents may acquire through the FAFSA site. Be sure that all the information you will be providing is correct, and the documents requested are updated.
- Follow up the status of your application. Once you have sent all of those in, you will get a receipt or a Student Aid Report (SAR). More information on the follow up process for the federal student loan is on the site. Note that you also need the PIN to obtain the SAR from the site.
Your student financial aid will be sent to your school, and it will be up to your school how to allot these funds based on your expenses in the said school, such as tuition fees, dormitory fees, and the like.
Getting a student loan becomes more possible, thanks to the help of agencies funded by the government.
A student loan, such as the aid provided by FAFSA, allows many promising young men and women to build better futures for themselves and for the country.