It is time to file the Free Application for Federal Student Aid (FAFSA). The FAFSA, is available online at www.fafsa.ed.gov or via hard copy by request only. Filing online is highly recommended for both speed of transmission and accuracy of information.
There is no automatic income cut-off level for financial eligibility, so I recommend that you apply even if you think you will not qualify. The only sure way to determine your eligibility for need-based financial aid is to file the FAFSA. The likelihood of being eligible for some form of financial aid may be better than you think.
Some common financial aid myths include:
- Only students with high GPA's get all the aid
- If your older son or daughter did not qualify for aid, then neither will your other children
- Only extremely needy students can receive financial aid, so if your family income is high, then don't bother to apply
The primary responsibility for paying for a student's education rests with the student and his family. Financial aid programs are only intended to assist students and families with their college costs.
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