How FASFA Works

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Applying for Student Loans and other Student Loan topics.

How FASFA Works

For the majority of college students today, obtaining some sort of financial aid is a fact of life. Whether extra funding is received from working while going to school, loans from family members, applying for scholarships or applying for student grants and loans, getting outside funding resources is necessary. Before applying for financial aid, it is required that you fill out a student loan application. While the process may seem daunting, it is actually quite straightforward. To assist in getting prepared for filling out the forms, make sure that you have tax information from the previous year and current salary details.

The Free Application for Federal Student Aid or FAFSA as it is affectionately known in the college world is the required form needed to be completed to apply for student loans from the government. This form can be filled out on line or a financial aid director at any college can provide assistance when completing the details. Filling out the form doesn't guarantee receiving any type of aid. If the application is approved, an award letter is issued that will detail the amount of aid eligible. There are a variety of aid types and some loans will not accrue interest while attending college. If there is a lack of credit history a student loan cosigner may be needed to qualify.



Nobody has commented on this tip yet. Be the first.


URL: (optional)


Not finding the advice and tips you need on this Student Loan Tip Site? Request a Tip Now!

Guru Spotlight
Jennifer Mathes, Ph.D.
Buy My Book