At Solutions for Progress, The Benefit Bank website offers free information on FAFSA!
Why FAFSA is so important
- The Free Application for Federal Student Aid (FAFSA) is a required form for any student who is applying for financial aid distributed by the federal government.
- Colleges and universities use FAFSA information to determine eligibility for federal student aid including grants, loans and work-study.
- Federal Student Aid has billions of dollars available to help pay for college and we want to help as many students as we can receive the funds they need.
Find out more information about the difference between grants and loans. Grants do not have to be paid back but loans do.
Read “7 Myths of Financial Aid”. My favorite is;
- 1. I make too much to qualify for aid.
Sure, your annual income is considered in the aid calculations, but so is the price of the college. You probably won’t get aid if your child will go to a public university in your state and your family’s income exceeds $80,000. But you might qualify for nearly $25,000 in need-based aid from one of the most expensive private colleges even if you earn $150,000 to $200,000, says Myra Smith, executive director of Financial Aid Services at the College Board. In fact, a family with household income just under $450,000 could be eligible for aid if they have three or more children, with two of them in expensive colleges.
Solutions for Progress helps low-income families determine the benefits they can receive through their online service, The Benefit Bank.
