Many are still hoping for a fourth stimulus check, but it is not on the horizon as the Biden administration has not given indications that they will approve one soon. There is, however, a way for college students to get up to $30,000 in aid from the federal government.
Free Application For Federal Student Aid
The Free Application For Federal Student Aid (FAFSA) is now open to college students for the 2021-2022 school year. Local 12 reported that the deadline for the application is 11:59 P.M. Central Time on June 30, 2022. If some corrections or updates need to be made with the application, applicants can submit them at 11:59 P.M. Central Time on September 10, 2022. However, Local 12 said that it is best to apply earlier.
Those planning to apply for the FAFSA for the 2022-2023 school year may also already file their applications. The exact dates and times apply a year ahead.
Know If You Are Eligible
In the report of NBC Los Angeles, they said that there is more than $150 billion that the federal government reserves for college students annually through the FAFSA.
Those eligible are the students who are U.S. citizens or eligible noncitizens. Federal Student Aid said that an eligible noncitizen is a U.S. national including natives of American Samoa or Swains Island, a U.S. permanent resident, or an individual who has an Arrival-Departure Record from U.S. Citizenship and Immigration Services showing any of the designations such as refugee, asylum granted, Cuban-Haitian Entrant, Conditional Entrant, victims of human trafficking, and parolee.
Families who want to let their children apply should prepare their social security numbers, federal income tax returns, W-2 forms, and bank statements.
Types Of Financial Aid You Can Get
The types of financial aid under FAFSA that those eligible can get are grants, loans, and work-study.
Local 12 quoted Ashley Boucher, who recently served as director of corporate communications for Sallie Mae, while talking to CNBC, saying, “FAFSA is the gateway to $150 billion in aid to help pay for higher education, including scholarships, grants, work-study, and federal student loans. But some of that aid is limited, some of it is first-come, first-serve, and so families want to be among the first in line to apply for their fair share of aid, and that means preparing for this October 1st application date.”