UNDERSTANDING THE FAFSA

Free Application for Federal Student Aid

What is the FAFSA?

The FAFSA is a FREE application for financial aid to help find ways to pay for college!

The FAFSA is NOT an application to college, you complete those separately for each school

The FAFSA IS applying for financial aid which can be used at most colleges and technical schools.

What is the FAFSA?

The financial aid offered through the FAFSA includes: Loans Grants Work- Study Opportunities

What are Loans?

Loans are borrowed funds You must repay loans AFTER you graduate

first payment is due 6 months after you graduate and have a job

Loans charge interest (the cost of borrowing the money) This mean that you will not only be paying back the

amount you borrow but ALSO a percentage of that amount per year

There are many different types of loans available to students both through the FAFSA and through other resources

What are Grants?

Grants are money that you receive and DO NOT have to pay back after you graduate.These are very similar to

scholarships but are financially based not academically based.

What is Work Study?

Work Study is an opportunity for you to work either on campus or in some off campus jobs to help earn money to pay for college. The money you earn if you are eligible for

work study will not be included to determine your financial need for the next year but does have to be reported for your taxes.

Most jobs are between 10 and 15 hours a week and you cannot work more hours than your work study award will allow.

Who Can Receive Financial Aid? You must be a be a U.S. citizen (or U.S. national) or eligible noncitizen

You must have a valid Social Security Number

Most males must register with Selective Service If you are male and 18 to 25 years of age

You must have a high school diploma or a General Education Development (GED) certificate or pass an exam approved by the U.S. Department of Education – ONLY TO RECEIVE THE AID NOT TO APPLY! MAKE SURE YOU APPLY BEFORE!

You must be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a college that participates in the federal student aid programs ONLY TO RECEIVE THE AID NOT TO APPLY! MAKE SURE YOU APPLY BEFORE!

You cannot have a drug conviction for an offense that occurred while you were receiving federal student aid (such as grants, loans, or work-study)

What Else Do I Need To Know?

The FAFSA is available January 1st

Funds are distributed on a first come first serve basis DON’T WAIT TO SUBMIT THIS FORM!!

You will need some information from your parents such as: Their Social Security Number Their 2010 Tax Information

Start Talking to Them Now!

Need More Information?

If you need more information you can visit the FAFSA Website directly at:

http://www.fafsa.ed.gov/

Or you can contact Liza Behrendt: Room: H10 425-431-5832 BehrendtLi@edmonds.wednet.edu