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Financial Aid Process
Paying for college doesn't have to be financially overwhelming. There are many different ways for a family to pay for a college education and the financial aid process isn't as complicated as many people think. Read below to learn more about the financial aid process.
Paying for college doesn't have to be financially overwhelming. There are many different ways for a family to pay for a college education and the financial aid process isn't as complicated as many people think. Read below to learn more about the financial aid process.
How to Apply
Students can apply for federal student aid by completing the Free Application for Federal Student Aid (FAFSA) and can determine their eligibility and apply for State of Iowa scholarship and grant programs through the Iowa Financial Aid Application and Wizard. Both applications are available starting January 1 and early application ensures students meet all application deadlines and receive the maximum amount of financial aid.
Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid (FAFSA) is a standardized federal form used to determine student's financial need. It is the application for most federal and state financial aid programs and colleges may also use this information to determine eligibility for institutional scholarship and grant programs.
FAFSA Tips
Upon receiving the FAFSA data for an admitted student, a college will generate a financial aid package for the student and communicate that information to the student through an award letter. The award letter typically includes information regarding the college's cost of attendance, in addition to the types and amounts of financial aid being offered to the student. Most award letters will include federal grants and student loans, state grant and scholarship programs and any institutional scholarship or grant programs being offered to the student. Compare award letters from different schools with the Financial Aid Wizard in I Have A Plan Iowa™.
Students can apply for federal student aid by completing the Free Application for Federal Student Aid (FAFSA) and can determine their eligibility and apply for State of Iowa scholarship and grant programs through the Iowa Financial Aid Application and Wizard. Both applications are available starting January 1 and early application ensures students meet all application deadlines and receive the maximum amount of financial aid.
Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid (FAFSA) is a standardized federal form used to determine student's financial need. It is the application for most federal and state financial aid programs and colleges may also use this information to determine eligibility for institutional scholarship and grant programs.
FAFSA Tips
- File online - www.fafsa.gov is the fastest, easiest and most accurate way to file the FAFSA.
- File early - The FAFSA is available January 1 each year. Students should submit their FAFSA as soon after January 1 as possible to ensure they have met any college or state filing deadlines.
- Apply for a PIN - By requesting a Federal Student Aid PIN from www.pin.ed.gov, students and parents can sign the FAFSA electronically, and access U.S. Department of Education records online.
- Be accurate - Simple mistakes, like entering a Social Security Number incorrectly, can slow down a student's FAFSA filing and financial aid award process.
- Keep records - Students should make copies of all materials used to complete the FAFSA and keep them handy in case they are asked to submit these documents to the financial aid office for verification of their FAFSA data.
- Don't pay for assistance - The FAFSA is a free application and students shouldn't be asked to pay anyone for filing assistance. Iowa students and families can receive free FAFSA assistance from Iowa College Aid and other reputable organizations. Call 877-272-4456 for additional information.
Upon receiving the FAFSA data for an admitted student, a college will generate a financial aid package for the student and communicate that information to the student through an award letter. The award letter typically includes information regarding the college's cost of attendance, in addition to the types and amounts of financial aid being offered to the student. Most award letters will include federal grants and student loans, state grant and scholarship programs and any institutional scholarship or grant programs being offered to the student. Compare award letters from different schools with the Financial Aid Wizard in I Have A Plan Iowa™.
To ensure students meet all application deadlines and receive the maximum amount of financial aid, it's important they complete the Free Application for Federal Student Aid and Iowa Financial Aid Application starting January 1.