Finance USA

Sep 9 2017

File the FAFSA #mortgage #loan #rates

#fafsa student loans


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This step-by-step guide provides a tutorial overview of completing the Free Application for Federal Student Aid (FAFSA). It is based on the bestselling book, Filing the FAFSA .

Students must satisfy several requirements before being eligible to receive federal student aid. These include citizenship requirements, earning a high school diploma or the equivalent and being enrolled as a regular student in an eligible degree or certificate program at an eligible college or university. There may also be program-specific requirements concerning demonstrated financial need, enrollment status and credit criteria. Financial aid may also be subject to annual and cumulative limits.

To retain eligibility for financial aid, the student must be making progress toward an academic degree or certificate, as described in the college s satisfactory academic progress policy. This policy usually requires the student to maintain at least a minimum grade point average (GPA) and to be earning enough credits (passing enough classes) to be on track to graduate within 150% of the normal timeframe.

To receive federal student financial aid and state grants, students must be U.S. citizens or eligible noncitizens. The student is eligible even is his or her parents are not U.S. citizens or permanent residents.

There are two simplified versions of the FAFSA. The Simplified Needs Test disregards all asset information and the Auto-Zero EFC sets the student s EFC to zero.

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