February is Financial Aid Awareness Month, which which makes it the perfect time to finish up your Free Application for Federal Student Aid (FAFSA), find as much scholarship money as you can to help pay for school and learn about Federal Stafford loans. This issue of the Financial Aid News will help you do just that. Here’s just some of what you’ll find in this month’s issue:
Some schools’ FAFSA deadlines have already come and gone—have you completed your FAFSA? Get your app in soon because some state and college aid is first-come, first-served. The earlier you file the better!
To help you file faster, the IRS Data Retrieval Tool is available. Learn if you qualify to use the tool and find out how this can save you time AND make your FAFSA more accurate.
If you have already filed, hooray! You’re one step closer to getting your funding. You’ll soon get your Student Aid Report (SAR) which includes your Expected Family Contribution (EFC) along with the amount of federal funding you might be eligible to receive.
Source: Mark Kantrowitz, Leaving Money on the Table, 2015
Don’t miss the exciting scholarship opportunities this month on ScholarshipPoints.com. To enter, simply log in to your account and spend your points on these drawings before midnight Pacific on the date indicated:
Watch for our notification emails to see if you are a winner!
One of my investments has lost value. I bought a rental property at the height of the housing market, and it is now worth about half of what I paid. If I were to sell it, the proceeds would pay off the mortgage because of the equity in the house. Do I need to list it as an asset on the FAFSA?
If your 1st choice school is a reach, perhaps list it 2nd or 3rd so the 2nd choice school can be listed first on the FAFSA.
Federal Stafford Loan
The Federal Stafford Loan is the largest federal student loan program. Federal Stafford loans may be subsidized, where the government pays the interest that accrues during periods of authorized deferment, or unsubsidized, where the borrower is responsible for the interest that accrues.
If you need help in filing the FAFSA, download our free guide.
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