2006 Resolution: Get Your FAFSA in Order
16 January 2006 - 9:04PM
PR Newswire (US)
RESTON, Va., Jan. 16 /PRNewswire/ -- One resolution that should be
high on every student's checklist is this: Compete the Free
Application for Federal Student Aid (FAFSA). (Logo:
http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a ) Students
planning to attend college in the fall may complete the FAFSA --
which determines eligibility for federal financial aid for college
-- starting this month. Applying early increases a student's
chances of securing funding. In 2005, $143 billion in financial aid
was awarded in the United States, up from $122 billion the previous
year. At the same time, millions of students fail to complete their
FAFSA, thereby taking themselves out of consideration for money for
which they were entitled. "Every high school graduate with a Social
Security Number is entitled to free or cheap money to pay for
college," says Martha Holler, Sallie Mae spokesperson. "Completing
the FAFSA is the first step in the process. More than 13 million
students apply each year. Make sure you are one of them so you
don't miss out on money for college." Financial aid comes from
several sources, including grants, scholarships, work-study
programs and low-cost student loans. Some of the aid is need based,
which means students must meet specific financial criteria in order
to receive it; other forms of aid, such as student loans, are
available to a wider population. The 103-question FAFSA form is
available through high school guidance offices, local libraries or
online at http://www.fafsa.ed.gov/. Students who plan to attend
college next fall can submit the FAFSA any time after Jan. 1, 2006,
and before the college's and state's application deadline. Once the
FAFSA is finalized, individuals should contact the schools they are
interested in to determine if additional financial aid forms need
to be completed. Sallie Mae's "How to Pay for College: A Practical
Guide for Families" is a resource to help students and parents with
their FAFSA. Developed with input and insight from numerous
financial aid administrators, the book serves as a one-stop source
for parents, students and guidance professionals, offering an
"insider's guide" to the entire financial aid process. "Paying for
college does not have to cost an arm and a leg," concludes Holler.
"Completing your financial aid application is a New Year's
resolution that pays to keep." First Call Analyst: FCMN Contact:
http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a
http://photoarchive.ap.org/ DATASOURCE: Sallie Mae CONTACT: Erin
Korsvall of Sallie Mae, +1-703-984-5136 Web site:
http://www.salliemae.com/ http://www.fafsa.ed.gov/ Company News
On-Call: http://www.prnewswire.com/comp/827187.html
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