Haven’t submitted your FAFSA yet? Don’t think you will qualify for any federal aid? Here are three big reasons to send in your FAFSA you may not have considered:
1. FAFSA could get you free money for college!
Even if you don’t believe you are eligible, the FAFSA application can surprise you with the type of aid available to you. It’s ALWAYS worth it to fill out the 20 minute application for the possibility of subsidized loans, grants, and work study.
If you have a sibling who didn’t receive aid when they started school- good news! Having more than one student in school increases your chances of receiving need-based aid through FAFSA.
2. Having a FAFSA on file secures your courses
August 6, 2018, is the financial commitment date by which students need to take payment action if they plan to maintain course registration. Even if you don’t qualify for aid, having a FAFSA submitted to MSUM prevents you from being dropped from your courses on this date.
To avoid being dropped from your courses, there are a few options:
– File the FAFSA with MSUM
– Pay a minimum of $300 toward your tuition and fees
– Contract with Nelnet Business Solutions for an approved payment plan
– Provide a Third Party Authorization to MSUM (employee tuition waiver, military assistance, etc)
3. The FAFSA can qualify you for other competitive scholarships
Some of our competitive scholarships use your FAFSA results to determine eligibility. A great example of this is our Access, Opportunity, and Success (AOS) Scholarship. The AOS scholarship is a $4,000 renewable scholarship available for students from underrepresented or underserved populations who show financial need based on the FAFSA.
The FAFSA is a quick application that should take you and your parents less than thirty minutes. Use your 2016 tax information to determine aid eligibility, and you are not required to accept student loans you don’t want to.
All in all, the FAFSA is a painless process that opens more doors for you in terms of college affordability.
If you have questions or concerns about the FAFSA, contact our Financial Aid office at firstname.lastname@example.org or 218.477.2251. We are always here to help!
Assistant Director of Financial Aid
Fun Fact: Sara has processed nearly 85,000 FAFSAs at MSUM