Students miss out on billions of dollars worth of financial aid annually. According to CNBC, in 2017, students missed out on approximately $2.3 billion of free student aid. Overall, 40% of high schoolers don’t apply for free financial aid.
Financial aid is money to help students pay for college. Options include grants, work-study, loans, and scholarships but numerous students neglect the free money available to them through financial aid. Here’s a few facts about financial aid in the U.S.:
Priority consideration for State aid programs is given to those students whose FAFSA is received at the federal processor on or before March 1.
The Early Bird Gets the Worm (At least Most of It)
Starting October 1st, financial aid is available for students. The first to apply are usually the ones to receive the most free aid. Applying for financial aid at a later date will limit the amount available to you. Mark your calendars in late September and begin to apply the first day applications open.
The More Time Passes the More Money Slips Away
Mark your calendars for the end of September. The number of students that forget to apply for FAFSA is unfortunate. One of the primary reasons for students forgetting about financial aid is the lack of preparation. Putting task to the side almost guarantee that it will not happen. As students, we need to prioritize paying for college and limiting our debt. We have no time to miss out on free funding.
You may not think you’re eligible for financial aid but still apply!
Even if you apply after October it’s not too late! Students have until June to apply. Applications are better late than never.
Deadlines arrive sooner than you think! Once applications are closed you’ll be forced to wait for next year. Don’t miss out!