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Sunday, March 13, 2011

Time running out for federal student financial aid

Students have until Tuesday to file their Free Application for Federal Student Aid, or FAFSA, to seek federal financial help for their college education.

High school seniors have just a few more days to complete a Free Application for Federal Student Aid, or FAFSA, which will determine whether the student qualifies for grants, loans or work-study to finance their college education.


Oklahoma’s deadline to receive the form is Tuesday. People can still fill out a FAFSA after Tuesday, but they won’t qualify for state aid.
Parents or legal guardians can fill out the FAFSA form online and also turn it into the two- or four-year institutions that the student is interested in attending.
The college or university then will determine what, if any, type of federal aid the student qualifies for.

Grants do not have to be repaid, loans have to be paid back with interest and work-study allows students to earn money to pay for college expenses while enrolled.
Janet Stalcup-Smith, a high school counselor at Edison Preparatory School, said she and the other counselors constantly remind students about FAFSA.
“You can’t beat the drum enough,” Stalcup-Smith said. “We encourage our kids to do that, especially the ones who qualify for free or reduced lunch. That’s a wonderful way to get a Pell Grant.”

The U.S. Department of Education’s Federal Student Aid office is the largest source of student aid in the country and awards more than $150 billion in grants, loans and work-study assistance to 14 million students each year, according to the Federal Student Aid website.

Stalcup-Smith said she filled out FAFSA forms online when she was going to college to earn a master’s degree.

“I thought it was very user-friendly,” she said. “It was like doing your taxes online.”
Those who are going to fill out the forms online will need tax returns and other documents when completing the application, Stalcup-Smith said.

credit  :  http://newsok.com
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