Applications for the Free Application for Federal Student Aid (FAFSA) are now open for the academic year 2021-22. Applying for the FAFSA allows you to qualify for grants, scholarships, and other federally-sourced aid, such as work-study or student loans. The applications opened on October 1, 2020, and will be accepted until the deadline, June 30, 2022.1
Why does this matter? An earlier application has a better chance of receiving part of the $122 billion the government offers in aid to over 10 million American students. Much of this aid goes to those with the earliest applications, so it’s smart to start now.1,2
With many students competing for free aid and options for work limited by the ongoing pandemic, families of every economic background will be looking to take advantage of this opportunity. First-time applicants can begin the process by creating a Federal Student Aid ID (FSA ID) at https://fsaid.ed.gov/npas/index.htm
Wishing you and the students in your life all the best.
While you are at it, make sure your insurance agent knows if your student will be living away from home, over 100 miles without a car. Also, inquire about extending coverage for their dorm from your home or renters policy!
1. Nerdwallet.com, September 29, 2020
2. Money.com, October 1, 2020
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