Stepping Up Your College Game: Why You Shouldn't Skip FAFSA
High School Seniors Fall Short in Completing FAFSA Applications. Here's Why It's Crucial to Do So.
Let's cut the BS: Filling out the Free Application for Federal Student Aid (FAFSA) can be a game changer for your college adventure. But wait—only around half of high school seniors are actually doing it this year! So, why are you still here reading this instead of filling out that FAFSA form?
You'd be surprised by the sweet, savings that FAFSA opens the door to. Completing this application is the golden ticket to federal financial aid and the loans you need to help fund your higher education. Plus, there are solid reasons to fill out the FAFSA, even if you think you're not eligible for federal aid.
Keep in mind that FAFSA completion rates have been in the 50s since 2018, except for a dip to 49.9% in 2024. That's a shame, considering that between 61 and 69% of recent high school grads have enrolled in college since 1993. So, if you're planning on attending college, you could be leaving a stack of cash behind if you skip FAFSA.
So, what's holding students back from applying for federal aid?
There's no simple answer, but it's a mix of misconceptions, skepticism, lack of awareness, and a messy FAFSA season in 2024. The 2024 season was a hot mess, with a new form and website causing major delays and bugs, leaving many students without the ability to submit their applications. Adding more salt to the wound, an understaffed Education Department call center left 4 million calls for assistance unanswered.
However, the chaotic 2024 FAFSA season is now ancient history. Many of the problems have been resolved, and what's left is a simplified application with fewer questions, an improved interface, more language options, and previously collected data filled in automatically. It's smoother sailing from here on out, so it's time to get back on that FAFSA horse.
Another significant factor keeping students from applying for federal aid is the lack of awareness and resources, particularly in low-income schools that may not have the resources to reach every student. First-generation students may also be at a disadvantage, as their parents might not have considered college or sought out ways to pay for it.
Why should you complete your FAFSA?
Free Money: Make It Rain, Baby!
Get this straight: financial aid isn't just loans. It's also money you don't have to pay back, including federal grants and work-study programs. To qualify for this free cash, you'll need to fill out the FAFSA.2. ### Federal Student Loans: Low Interest Rates and Sweet Benefits
Federal student loans come with lower interest rates and perks like income-driven repayment plans, forbearance, and student loan forgiveness. They're often a better alternative to private student loans, which can have higher interest rates and fewer benefits.3. ### Access to State and Institutional Aid
Many states and colleges use the FAFSA to award students grants, scholarships, or institutional loans. So, even if you don't qualify for federal aid, completing the FAFSA can open up opportunities for financial assistance from other sources.
FAQs
- Is FAFSA free to complete? Yes! FAFSA is completely free, so quit waiting and start applying.
- What's the deadline for the FAFSA? The FAFSA opens every year on October 1, and the deadline for the 2024-25 school year is June 30, 2025. Get cracking, people—early application is key!
- Does your state require FAFSA completion? Thirteen states require FAFSA completion for high school graduation. Ensure you know your state's requirements to avoid any surprises.
- What if I don't plan on attending college? Some states offer an alternative application or waiver for students who don't plan on attending college. Speak to your high school guidance counselor or state agency for more information.
- What are some strategies to complete the FAFSA successfully?
- Start early! The FAFSA is dated, so the earlier you apply for aid, the better chances you have at securing financial assistance.
- Gather essential documents, like tax returns, before you start filling out the form.
- If you encounter issues, reach out to the financial aid office at the college you plan to attend, or your high school guidance counselor. They should be able to help you troubleshoot any problems.
Take Action
FAFSA completion rates might still be low, but it doesn't have to be that way. Fill out that FAFSA form to unlock endless opportunities and free money to help pay for college. Time's a-wastin', so get on it!
- Completing the FAFSA application can help secure student loans with lower interest rates and access to federal financial aid, providing a significant boost for personal-finance and education-and-self-development endeavors during college.
- By filling out the FAFSA form, students can qualify for various types of financial aid, including grants and work-study programs, which are forms of aid that don't require repayment, offering a more manageable approach to personal-finance management.
- Overlooking the FAFSA application can lead to missed opportunities, as it is used to award state and institutional aid, scholarships, and grants, potentially leaving a substantial amount of money on the table for students planning their college education.
