There was a little meeting at my school about college, but they didnt explain too well what it is, so i'm confused.
Best Answer
I'm guessing you're a junior if you just had your first meeting where they mentioned FAFSA so don't worry, you have enough time to get this filled out and plan for it.
Basically, FAFSA is kind of like a tax return of sorts. It's going to help determine how much your family can afford to pay for college. It takes into account your family's income (salaries), assets (house, investments, real estate, etc.), and liabilities (debts, loans, mortgages) to figure out how much they can afford to pay. It also takes into account how many siblings you have and how many other sets of college tuition your parents will have to pay because you have siblings.
Be careful filling it out because it's easy to make a mistake and I would suggest having it checked over by someone who understands the FAFSA well. Also, be careful of people who try to sell your parents weird insurance to make it look like they make less money so it will get you more financial aid. There are some really good financial planners, but there are also some really shady ones. Make sure to ask for references first.
Basically, FAFSA is kind of like a tax return of sorts. It's going to help determine how much your family can afford to pay for college. It takes into account your family's income (salaries), assets (house, investments, real estate, etc.), and liabilities (debts, loans, mortgages) to figure out how much they can afford to pay. It also takes into account how many siblings you have and how many other sets of college tuition your parents will have to pay because you have siblings.
Be careful filling it out because it's easy to make a mistake and I would suggest having it checked over by someone who understands the FAFSA well. Also, be careful of people who try to sell your parents weird insurance to make it look like they make less money so it will get you more financial aid. There are some really good financial planners, but there are also some really shady ones. Make sure to ask for references first.
Other Answers
FAFSA stands for Free Application for Federal Student Aid. If you want to get student aid from your college and/or the government, you're going to need to fill it out. Basically, over 50% of students going to 4-year universities qualify for need-based financial aid. If your parents earn a lot of money (especially if you are an only child), you will probably not qualify for financial aid.
Some aid comes as grants, but most of it is as loans so the loans that are guaranteed by the government have a lower interest rate than the ones that you will get through private loan companies. Always try to get as much as possible through the federally subsidized aid and then get the rest through private loans.
Some aid comes as grants, but most of it is as loans so the loans that are guaranteed by the government have a lower interest rate than the ones that you will get through private loan companies. Always try to get as much as possible through the federally subsidized aid and then get the rest through private loans.
FAFSA is a really complicated form that you have to fill out to get your financial aid eligibility set. You should make sure you fill it out really carefully. There is an online guide from the Department of Education: http://www.fafsa.ed.gov/complete001.htm.
Use that and good luck!
Use that and good luck!
http://www.finaid.org/fafsa/gvideo.phtml
For you struggling parents out there, this video really cleared up the FAFSA process for me. Check it out!
For you struggling parents out there, this video really cleared up the FAFSA process for me. Check it out!
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It's a form you have to fill out to be eligible for financial aid. It's really important!
It is a finacial aid-based scholarship.