College aid forms accepted starting today
By Marshall Loeb
Knight-Ridder Tribune
NEW YORK -- The Department of Education opens hunting season for financial aid today when it begins accepting the Free Application for Federal Student Aid, or FAFSA. Students who already have chosen a college, as well as those still deciding, are eligible to apply.
Financial aid is available for a range of students beyond those who qualify based on high school grades or financial need. Skateboarders, for example, can win up to $5,000 for a 300-word essay on the positive impact skateboarding has had on their life.
"The bottom line is that there's money that's out there for the taking, and it's a shame not to apply," said Martha Holler, a spokeswoman with the college-loan originator Sallie Mae.
"FAFSA is the starting point for all financial aid, and puts you in the running for money handed out by the federal government, state governments, and, in most cases, the college or university that you plan to attend," she added.
Parents and students should set aside time during the holiday to gather the necessary documents for the application, which include bank and income statements. With these materials in hand, the FAFSA application takes about one hour to complete.
Students can have their application sent to six colleges, just like the SAT. Schools have their own deadlines, but Holler recommends applying as soon as possible.
"There's a limited pot of money, and applying late puts you at risk of missing out on financial aid you might be eligible for," said Holler.
Last year, 13 million college students in the United States received $143 billion in financial aid, according to the College Board, which administers college entrance exams. The American Council of Education estimates that more than 10 percent of those who didn't apply would have been eligible for some aid.
Sallie Mae's Web site connects to a database with more than two million scholarships worth roughly $15 billion. The database lists the scholarships for which students qualify based on their financial needs, grade point average and academic or extracurricular interests...
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NEW YORK - The Department of Education opens hunting season for financial aid on Jan. 1 when it begins accepting the Free Application for Federal Student Aid, or FAFSA. Students who have already chosen a college as well as those still deciding are eligible to apply.
The holiday break from school and work is an ideal opportunity for parents and students to begin looking for scholarships and grants for college tuition. Financial aid is available for a range of students beyond those who qualify based on high school grades or financial need. Skateboarders, for example, can win up to $5,000 for a 300-word essay on the positive impact skateboarding has had on their life.
"The bottom line is that there's money that's out there for the taking, and it's a shame not to apply," said Martha Holler, a spokeswoman with the college-loan originator Sallie Mae.
"FAFSA is the starting point for all financial aid, and puts you in the running for money handed out by the federal government, state governments, and, in most cases, the college or university that you plan to attend," she added.
Parents and students should set aside time during the holiday to gather the necessary documents for the application, which include bank and income statements. With these materials in hand, the FAFSA application takes about one hour to complete.
Students can have their application sent to six colleges, just like the SAT. Schools have their own deadlines, but Holler recommends applying as soon as possible.
"There's a limited pot of money, and applying late puts you at risk of missing out on financial aid you might be eligible for," said Holler...
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