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Getting The Most Out Of Financial Aid



The cost of public university has risen 40 percent in the last decade. The cost of private not for profit colleges has increased by 28 percent in the same time. This quickly increasing costs makes government funds and private organization even more pertinent to the next generation’s education. Make sure you’re getting the most of your eligibility by storing all of your documents as you fill out each application you fill out, and be sure to stay on top of deadlines. No matter what your financial standing is, be sure to complete and submit your FASFA well before the due date.

Most financial aid is handed out based on your test scores and overall GPA. People with GPAs lower than 2.5 do not qualify for financial aid. That includes grants and loans. Before you press submit on your FAFSA, make sure all of the content is accurate and up to date. If you do submit your application with incorrect information, you have the option to correct that information.

All unemployed filers, should file their FAFSA as a dislocated worker. Assets are reported differently for dislocated workers, decreasing your EFC, or Expected Family Contribution. This metric is used to help determine how much you should receive from the government. With a lowered Expected Family Contribution, you’ll receive a higher reward from financial aid. Unemployment is not a requirement for financial aid. The EFC determines your expenses by taking into account things like child support, and then formulates your financial needs as compared to your college degree goals.

Get friendly with your school’s financial aid office. Most financial clerks are students, and understand what you’re going through, and are there to help. Help educate yourself on the process by asking lost of questions, doing research and attending any workshops offered by your school. You have plenty of resources to use and make the most of when it comes to collecting student aid. Keep in mind, you must apply for financial aid on a yearly basis since situation change annually.

 

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