Many are still hoping for a fourth stimulus check, but that’s not on the horizon as the Biden administration has not indicated it will approve one soon. However, there is a way for college students to get up to $ 30,000 in assistance from the federal government.
Free application for federal student aid
The Free Federal Student Aid Application (FAFSA) is now open to students for the 2021-2022 school year. Local 12 has indicated that the deadline to apply is June 30, 2022 at 11:59 p.m. Central Time. If any corrections or updates need to be made to the application, applicants can submit them at 11:59 p.m. Central Time on September 10. 2022. However, Local 12 said it is better to apply earlier.
Those planning to apply to the FAFSA for the 2022-2023 school year can also already apply. The exact dates and times apply one year in advance.
Know if you are eligible
In the NBC Los Angeles report, they said there was over $ 150 billion the federal government set aside for students each year through the FAFSA.
Eligible individuals are students who are U.S. citizens or eligible non-citizens. Federal Student Aid has declared that an eligible non-citizen is a U.S. national, including natives of American Samoa or the Island of Swains, a U.S. permanent resident, or a person who has a record of arrival and departure of United States Citizenship and Immigration Services showing one of the designations such as Refugee, Asylum Granted, Cuban Haitian In, Conditional Entrant, Trafficked, and Parole.
Families who wish to let their children apply must prepare their social security numbers, federal income tax returns, W-2 forms, and bank statements.
Types of financial assistance you can get
The types of FAFSA financial assistance that eligible people can get are grants, loans, and work studies.
Local 12 quoted Ashley Boucher, who most recently served as director of corporate communications for Sallie Mae, while speaking to CNBC, as saying: “FAFSA is the gateway to $ 150 billion in aid to help pay for higher education, including scholarships, grants, education, and federal student loans. But some of that help is limited, some is first-come, first-served, and so families want to be among the first asking for their fair share of help, and that means preparing for that October 1 application date. “