“Whatever you do, do with all your might.” Cicero
It’s been 2 months since I did an update for Helping Young People Succeed (HYPS). I do apologize for that but this month I did not want to miss the opportunity to remind our young people that it is time to to begin the process for applying for Federal Financial Aid. This post will be brief and will just touch on the various sources that available for students to apply for from the federal government.
**Please Note***** The application process to apply for federal aid via the Free Application for Federal Student Aid began on October 1, 2019 for the 2020-2021 school year. It is best the start that application process early as some colleges/universities as well as some state organization that grant scholarships and other financial aid may have limited resources, therefore, aid is given on a first come first serve bases.
You will start your application by going to the website https://studentaid.ed.gov
Some of the information you will need to provide during the application process are as follows:
- your personal information (such as name, date of birth, address)
- your Social Security Number
- your parent’s Social Security Number (if you are a dependent student)
- your driver’s license (if you have one)
- your alien registration number (if you are not a U.S. citizen)
- 2018 federal tax information for you, your spouse (if you are married), your parents (if you are a dependent student)
- other income you may receive , such as child support, interest income, etc.
- information on cash you may have, such as savings & checking account balances, investments, etc.
The type of financial aid a student can be considered for once they submit a FAFSA are as follows:
- Grants – Money you will not re required to pay back
- Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Teacher Education Assistance for College and Higher Education (TEACH) Grant
- Iraq and Afghanistan Service Grant (IASG)
2. Loans – Money you will have to repay
- Direct Subsidized Loan
- Direct Unsubsidized Loan
- Perkins Loan
- Direct Plus Loan
3. Federal Work Study – student will be placed in a part-time job on or off campus to help pay for educational cost.
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