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Apply Early for Federal Student Aid with the FAFSA |
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From Education Newsfeed: The start of the calendar year also marks the beginning of the college financial aid season with the release of the U.S. Department of Education's 2008-09 Free Application for Federal Student Aid (FAFSA). The FAFSA is the qualifying form for all federal grants and loans as well as many state and private student aid programs. Each year, the U.S. Department of Education disburses more than $80 billion in higher education grants and loans to students attending postsecondary schools, but, to qualify, students must first complete the FAFSA. "We want to make sure students and families take full advantage of the billions of dollars in federal financial assistance available to them for postsecondary education each year," Secretary Margaret Spellings said. More than 95 percent of FAFSAs are submitted online, and now, with several added features, it is easier than ever to apply online. List up to 10 schools to receive the provided financial aid information. To determine aid eligibility, students and families should fill out the FAFSA as early as possible after Jan. 1 for the academic year beginning July 1. Many factors contribute to a student's eligibility for federal financial aid besides income, such as the size of the family and the age of the oldest parent. Completing a FAFSA is the only way students and families can find out how much federal aid they are eligible to receive. Although completing the FAFSA online is the preferred method for most families, there are other FAFSA filing options available, including downloading the form or ordering a hard copy.
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