Financial Aid Programs
Financial Aid Programs
Financial aid programs for school can be divided into three categories – federal, state, and school aid. Each program offers certain types of aid and separate deadlines. Almost all of the state and school financial aid programs require students to fill out a Free Application for Federal Financial Aid (FAFSA). The FAFSA is also the application used for federal student aid. Each program also requires student applications be turned in by a set deadline in order to qualify for assistance.
Federal Financial Aid Programs
A primary source of assistance for students, the federal financial aid programs feature grants, student loans, and parent loans. All of the assistance offered through the programs can be applied for via the FAFSA. Deadline for the FAFSA (which is renewed annually) is June 30th for the previous school year (example – for the 2006-2007 school year, the FAFSA deadline was June 30th, 2007). However, the sooner a student submits the FAFSA the more likely they are to receive grant money (if they qualify). The FAFSA can be submitted as early as Jan. 1 for the upcoming school year.
State Financial Aid Programs
Nearly every state in the U.S. provides some form of student aid. Some state financial aid programs feature numerous funding options while others only apply to students in specific situations. Most state programs require the student to submit a FAFSA to the U.S. Department of Education. Each state has its own financial aid application deadline. Most require applications be turned in by late March. For specific due dates and program information, contact you state’s higher education department.
School Financial Aid Programs
A majority of postsecondary institutions feature school financial aid programs. Sometimes in order to apply, you must submit a FAFSA like you would with a state aid program. In other cases, the school’s financial aid office may have its own application. Again, deadlines and programs vary by school. Contact your financial aid administrator for more information.