The Free Application for Federal Student Aid is a pretty versatile form. Recently the FAFSA has been overhauled, making it even easier for students to apply for financial aid. However, many students are still not aware that the FAFSA allows a student to apply for all types of federal aid on one simple application. The FAFSA allows students to apply for a lot more than just subsidized and unsubsidized federal student loans. You can also:
*Apply for grants. Federal or school-specific grants can be applied for by filling out the FAFSA. Income information collected will be used to determine what grants you qualify for. As most federal grants are based upon financial need, the more need you have, the more likely you’ll be to get good grants. Don’t forget there are also state-level and private grants that you can apply for locally and on the web.
*Apply for scholarships. Eligibility for federal or school-funded scholarships will be automatically determined when you fill out a Free Application for Federal Student Aid. Scholarships will have more requirements in order to qualify, but often offer better availability and more money than grants. There are also thousands of scholarships available from businesses, organizations, and private individuals.
*Apply for Federal Work Study. Federal Work Study eligibility is determined based upon the financial need established on the FAFSA. Federal work study is usually offered in conjunction with scholarships, loans, and grants, enabling you to get all the money you need to reach your educational goals.
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