FAFSA, Grants, Money, Scholarships

FAFSA and Financial Aid Tips for Low-Income Students

Comments Off on FAFSA and Financial Aid Tips for Low-Income Students 23 February 2017

If you come from a low-income household, paying for college can be intimidating. Take a look at these tips financial aid and FAFSA tips to receive the most aid you are eligible for.

Apply for the FAFSA early. More than a dozen states award grants on a first-come, first-served basis. That means that the later you apply, the less likely you are to receive grants. Only about 33 percent of low-income students file the FAFSA during the first three months of application season. This is compared to 58 percent of middle-income students and more than 71 percent of high-income students. For this reason, low-income students tend to miss out on billions of dollars in grants by filing the FAFSA too late.

Use the IRS data retrieval tool. You must fill out more than 100 questions on the FAFSA – that can be intimidating if you do not understand each question. That is where the IRS data retrieval tool comes in. This tool will pull information from your tax returns and input them directly onto your FAFSA application.

Seek out free money. There is no limit on how many scholarships you can apply to. The more scholarships a student receives, the less their total out-of-pocket cost will be for college. We are always updating the College Greenlight scholarship database, so be sure to always check in on your scholarship matches. You should also look into grant partnerships between colleges you are considering and organizations to maximize how much money you receive.

Consider work-study. The work-study program is based on financial need and provides an opportunity to earn money to that will help cover college expenses. The amount you earn will depend on how much you decide to work. But it is important to keep in mind that this money won’t be available to pay tuition at the beginning of the semester, but will instead help to cover ongoing expenses throughout the year.

Ask for help. There are multiple free sources you can utilize for help with filling out the FAFSA. Your counselor will be a great resource for any questions you or your parents may have. The U.S. Department of Education sponsors a toll-free hotline (1-800-433-3243) that can answer any questions you may have about student aid and the FAFSA.

Join us!

Create a free profile and...
  • Discover more than $11 billion in scholarships and merit aid
  • Get your college matches and see which colleges want you
  • Instantly see your admissions chances for getting into the college of your dreams
Create My Profile Now