Can the FAFSA process be automated?

Many students apply to dozens of colleges and universities each year, taking advantage of the federal programs offered by filling out a FAFSA or Free Application for Federal Student Aid. By using this form, students are able to determine their eligibility for educational funding offered through the United States Department of Education. These programs provide invaluable services such as work study programs, subsidized and unsubsidized loans, grants and scholarships. But for some students, the FAFSA is a long and tedious process. In this case, many have asked if there is an automated process for filling out the FAFSA. The short answer is “no,” though the long answer includes a “but.”

Because the FAFSA is used by schools to determine internally administered programs such as school-sponsored grants, scholarships, and work study, a FAFSA must be filled out on a school-to-school basis. However, the FAFSA form is identical regardless of what school you’re applying to. This means that with a little resourcefulness, you can automate the process yourself…sort of.

One way to do this is to create an Excel spreadsheet. First, you’ll need to fill out one copy of a FAFSA completely. Then, you can highlight and copy each segment of your answers on the form. Then, by using the ALT-TAB function on your pc, you can flip back and forth between the two: copy answer fields from the FAFSA you’ve filled out and saved and then paste it into your Excel document. You can then navigate to each school's website and reverse the process- dumping information from the Excel sheet into the new FAFSA and submit to the respective school.

But even this process is a little tedious. A faster solution would be to fill out one FAFSA in entirety, then make a bunch of photocopies of it and send it to the schools of your choice the old-fashioned way: snail mail. Some of you might be too young to understand what snail mail is ( ;-P ) - it’s the process of sending paper or other materials through a postal service to reach its destination in a matter of days . . . or weeks if you’re unlucky. However, this is also a tedious process, and can prove quite costly depending on how many schools you are applying to.

The best solution for submitting multiple FAFSA’s? Fill out one copy completely and accurately. Store it in electronic format. Bring up the FAFSA submission form of 6-7 schools at a time using multiple browser windows. Attach, copy, paste, or otherwise include your electronic version of the FAFSA and submit to each school, using the ALT-TAB function to easily flip between screens. Then, rinse and repeat.

What kind of schools Accept the FAFSA?

The FAFSA is used by more than 4,000 schools, universities and colleges across the United States. In fact, because many international schools require American students to fill out a FAFSA in order to enroll, it could be argued that the Free Application for Federal Student Aid is utilized by substantially more schools than just 4,000. However, many students have the misconception that a FAFSA can only be used at traditional schools- that is, those schools that are state-run colleges or universities. Increasingly, more students are becoming aware that the FAFSA is also used by community colleges. Nevertheless, the fact remains that nearly any type of school in the US and even overseas may make use of the FAFSA. These include:

Online Schools/Universities

Just because you attend classes online doesn’t mean that your school’s curricula is any less substantive than a brick and mortar school. As long as the school is an accredited college, chances are great that you will fill out a FAFSA in order to be considered for federal educational aid.

Trade Schools

These schools teach valuable skills such as welding, manufacturing processes, mechanical and engineering skills, and more. Being that this country could not operate without skilled workers in these industries, it makes sense that you can use a FAFSA to apply.

Nursing Schools

Specialized nursing schools are not exempt from federal funding. In fact, most nursing schools are afforded a large amount of federally-available grants and scholarships because of the high value and need for qualified professional nurses. For this reason, most nursing schools actually require that you fill out a FAFSA.

Technical Schools

Technical schools teach skills that are highly specialized in the computer sciences and technologies industries. This can also include electrical engineering and new technologies that aren’t even known to the general public yet. The government encourages these schools to participate in the USDE’s educational funding programs, which mean that attending students will likely fill out a FAFSA.

There are other school types that also use the FAFSA. The best way to find out is to simply call the school and ask. Chances are that you’ll be able to use the FAFSA and get all of the federal loans, work study, grants and scholarships that you need.

Going Back to College as an Adult? What you should know about the FAFSA

Adults over the age of 40 who are going back to school or attending college for the first time should complete a FAFSA in order to determine what types of federal aid are available. There are a number of programs offered by the US Department of Education such as grants, scholarships, loans and work study. Even adults who are returning to school to finish professional degrees and may think they are able to afford to pay for college out of their pockets should reconsider and fill out a FAFSA. This is because it is very expensive to attend college, and there are fees and expenses involved beyond just the standard tuition costs. Books, supplies, equipment, laboratory fees, various membership fees and dues, required software programs, required health insurance, and many other expenses mean that it’s a wise idea to fill out a Free Application for Federal Student Aid.

Filling out a FAFSA will determine eligibility for a number of different programs. The most beneficial- grants, consist of monetary awards that never have to be repaid. There are usually a number of requirements in order to get the grants, and they may be available at many other places besides the school and the federal government: businesses, corporations, foundations, civic groups, charitable organizations, private individuals, and state and local government agencies also offer grants in some cases.

The same groups listed above may also provide scholarships. However, most scholarships available through schools or by filling out a FAFSA are generally for students who are under age 24. As a result, adult students should seek outside sources of scholarships for returning or mature students.

Even adults can qualify via the FAFSA for work study programs. This enables a student to work in a field relative to their degree path while being able to earn money to pay for educational costs. This is especially useful for adults that are returning to school with the intention of being retrained in a new field.

Finally, nearly everyone regardless of age can qualify via the FAFSA for federal loans to cover college expenses. Terms and interest rates are very favorable and allow even the busiest mature student the ability to fund their education and improve the lives of their families and communities.

FAFSA Worst Case Scenario- Unsubsidized Loans

If you’re in the process of filling out a FAFSA, you’re likely wondering what the possible results could be, and what the worst case scenario is. You should know right away that not everyone qualifies for all types of aid that are available by completing a Free Application for Federal Student Aid. The federal forms of educational funding provided by the US Department of Education are offered on a need-basis. This means that the more financial need you have, the more likely you will be to qualify for all types of aid.

The FAFSA seeks to determine eligibility for the following programs: federal work study, federal grants, scholarships, subsidized loans, and unsubsidized loans. Obviously, the most desirable of these forms of aid are grants, as this is money for college that never has to be repaid. Following closely behind grants is scholarships, which also provides money for school that never has to be paid back, but comes with some restrictions and obligations.

Work study programs are often preferred over federal loans. Work study awards are provided once per year. A student is able to “work off” up to the full amount of the award by performing services in a field similar to the student’s field of study, or in a job that serves the public good if no degree-specific jobs are available. However, making the commitment to work is difficult for many students. Nevertheless, students that do take advantage of this program are able to get money for school and valuable training at the same time.

Subsidized loans are available to students with financial need. Interest on these loans is not accrued while the student is still enrolled in school or is in a grace or forbearance period. Once the student graduates or stops attending, loan payments will be due and interest will begin to accrue after a 6 month grace period. However, interest rates are very low on this type of federal loan.

The worst case scenario is that you’ll only qualify for unsubsidized loans. These loans also do not become payable until graduation or when the student stops attending, although interest does begin to accrue at the time the loan is first disbursed. Unsubsidized loans are still a valuable way to obtain money for college. These loans can help prevent a student from having to participate in work study or work a full time job while attending school. And being that the interest rate is extremely low, the cost of the money borrowed is very reasonable. So essentially, the worst case scenario when you fill out a FAFSA is that you will be provided with an excellent, low-cost loan that’s completely managed for you. It’s still a pretty good deal. Unless you’d like to pay for college out of your own pocket, that is.

Understanding the FAFSA: I don’t want to give or can’t get my parent’s information!

When filling out the FAFSA, many students are surprised to find that they must enter information regarding their parent’s financial status. This includes income, capital gains, assets, and tax information. In fact, the FAFSA often requires that supporting documentation to validate parental income be submitted with the application. But not all students or parents are comfortable providing this information, and some of the reason for this may be because they misunderstand or simply don’t know how the information is used or why it is needed.

The FAFSA or Free Application for Federal Student Aid seeks to make determinations for all types of federal educational funding. Information requested on the form is used as part of a formula developed by congress to find out how much aid a student can receive. However, in the eyes of the federal government, parents should be involved in providing funding for their children. This is not to say that if the parents can afford it that the government won’t help. Rather, it’s merely supporting the federal plan that a person’s education costs be shared by the government, and the family.

For this reason, information regarding your parent’s income is used to determine how much your Expected Family Contribution should be. Because federal programs such as loans, grants, work study and scholarships are awarded based upon financial need, students from low income families will receive greater aid than those from more fortunate families.

But sometimes, students have been on their own for years already, or they are estranged from their parents and cannot get the information. Additionally, some parents may simply refuse to provide such details. In these cases, students are strongly encouraged to contact financial aid officials at their school, as there are exceptions that can be made, including allowing a dependent student to be listed as independent in the event that they cannot obtain their parent’s information, or if the student is genuinely under an independent status even though they are under the age of 24.

Can I get Help Filling out a FAFSA?

The FAFSA is a comprehensive form used to determine student’s eligibility for certain types of federal aid. For freshman students especially, some of the information on the application may be completely foreign. For this reason, some students may not be able to simply fill out the FAFSA online, and instead may need assistance in order to complete the form accurately.

Can Parents fill out a FAFSA for Direct Plus Loans?

A FAFSA is not required for parents who wish to make use of federal funding to pay for their child’s education. Instead, a parent will need to contact school financial aid officials that participate in the Federal Direct Student Loan Program. Under this program, parents can be offered low interest rate loans to fund their child’s tuition, books, and other educational expenses at more than 4000 colleges and universities nationwide. Applications should be made directly with the school.

In order for a parent to qualify for a Direct Plus loan, the must meet certain eligibility criteria. First, the child whose education they wish to fund must be a full biological or legally adopted dependent. The student must attend classes at least half-time. In most cases, a student must be under the age of 24, have no dependents of their own, and not be married.

Parents must be able to demonstrate creditworthiness in order to apply for a Direct Plus Loan. Because of this, parents are strongly encouraged to review their credit reports prior to applying for a loan. Individuals who do not have sufficient credit may still be able to get a Direct Plus loan if they can provide suitable cosigner or guarantor. In cases where a cosigner or guarantor is not possible, a parent may still be able to get a Direct Plus loan if they can prove that their adverse credit rating was as a result of unusual circumstances that have since been resolved.

While parents do not need to fill out a FAFSA in order to apply, they should understand that loan amounts cannot exceed the total educational expenses as would normally be determined by a FAFSA form. Loan amounts are also reduced by the amount of other aid a student receives, such as grants and scholarships.

The FAFSA: What Happens if I don’t pay a Loan Back?

When you fill out a Free Application for Federal Student Aid, or FAFSA, you’re required to submit an MPN every time you borrow new funds or change schools. While few students consider what an MPN consists of, it’s vital to understand exactly what it is that you’re signing when you fill out this document.

An MPN is a Master Promissory Note. To summarize very briefly, the MPN is a legally binding document where your signature guarantees, or promises, to repay finds lent to you under the FAFSA or the Federal Direct Student Loan Program. In the event that a student defaults or refuses to pay back student loans when they are due, the MPN will be used against the student in a court of law.

When you fail to make timely payments on your student loans, your account will begin to show on credit bureaus as past due. Each stage of delinquency hurts your credit more. By the time your bill is 90, 120, or 150 days past due, chances are high that your account will be sold to outside collection agencies.

Collection agencies are not held to the strict collections practices standards set forth by the Fair Debt Collections Practices Act. They have much more leeway when collecting, and can call you repeatedly every day for years. They may aggressively attempt to collect the debt by contacting you via email, letters, and phone calls, and they may contact your employer, your neighbors, and other people that you associate with. This can become extremely embarrassing, especially considering that information you provided on your FAFSA may be used to make these contacts.

Unlike most other types of debt, student loans cannot usually be included in a bankruptcy. This means that regardless of your financial situation, you’re going to be forced to pay these loans back eventually. Letting them go delinquent will only result in severe damage to your credit standing and the accumulations of fees and interest. It’s much cheaper to pay student loans when they are due- not when they are past due.

Additionally, if you have student loans that are past due, you will not be able to use the FAFSA at any other school in the country to obtain student aid until you have made suitable arrangements to pay your debts back. This can prevent you from finishing your education, and can have serious long term credit ramifications; including the inability to purchase a vehicle or a home.

Nearly all student loans are offered at very low rates of interest, and with low payment amounts. If you find yourself struggling, contact your school’s financial aid office and advise them that you need help. Forbearances or reprieves in payment may be available until you are able to get back on track.

How Much Money for College can the FAFSA Provide?

If you qualify for all forms of federal aid available on the FAFSA, chances are that you can receive a lot of money for college. While some of this will likely come in the form of low interest loans, a great deal of it can also come from grants and scholarships, which never have to be repaid. Additionally, work study awards can be earned in addition to other forms of aid, thereby increasing the overall amount of money you can receive by filling out a FAFSA.

Each part of the FAFSA makes different determinations concerning what type of aid you can receive. For undergrad students, most funds will come in the form of unsubsidized and subsidized loans. For each academic year, total loan amounts will depend on student status: dependent students can get up to $3500 in subsidized loans and $2000 in unsubsidized loans. Independent students can be loaned up to $3500 in subsidized loans and $6000 in unsubsidized loans.

Students using the FAFSA can also get Perkins loans up to $5500 per year. The Perkins loans features a low 5% rate of interest and is managed by the school- not the US Department of Education.

There are several grants available to students by filling out a FAFSA:

Pell Grant: Can be awarded up to $5550. In some cases, students can be awarded this twice per year.

Federal Supplemental Education Opportunity Grant: Usually awarded in conjunction with the Pell Grant, the FSEOG maximum award is $4000.

Academic Competitiveness Grants: Usually awarded through the school, officials will use information on your FAFSA to make ACG award determinations, up to $1300.

The Teacher Assistance for College and Higher Education Grant, awarded up to $4000, is for students that make a commitment to teach for 4-5 years in an elementary or secondary school that services children from low income families.

Scholarships available by filling out a FAFSA vary wildly in type and amount, but in general range from $500 to $3500 and more.

As you can see, it’s easy to get all the money you need- and then some- simply by filling out a FAFSA.

Understanding the FAFSA: Can it be used to get funds to attend international schools?

The Free Application for Federal Student Aid or FAFSA is used frequently by American students wishing to study abroad. While there may be many students and taxpayers alike that decry this federal policy, it makes perfect sense in the eyes of the US Department of Education, who is the managing authority when it comes to the FAFSA. The USDE provides funds for students with financial need to use for educational purposes. The goal is to create an American public that is highly educated, so in that sense the USDE isn’t concerned about where that education is obtained. The general idea is that most US students who study abroad are not likely to move there permanently, and therefore will eventually bring their higher level of education back to the United States.

Those that oppose students using the FAFSA to receive federal aid state that the money provided by the federal government should only be given to American schools, thereby boosting the economy and reserving federal funds for domestic uses only. However, this logic is flawed when the high number of international students studying in this country is considered. To clarify, if we should not use federal funds to allow US students to attend foreign schools, what if every foreign country adopted this same policy? The answer is that the US would have thousands less students every year, as international students make up a significant percentage of US college populations.

If you wish to study abroad, you will be required by most schools to fill out a FAFSA if you are American. The best practice is to fill out the FAFSA online, then wait 48 hours for the SAR or Student Aid Report. When you receive this report, you should contact FAFSA administration officials and ask for the full report- not just the summary. The full report and all FAFSA information should then be mailed to the international schools you wish to attend. From there, school officials will instruct you as to their individual policies.

Don’t forget- international schools accept thousands of American students each year, so most will be very familiar with the FAFSA and the process to apply for federal student aid.