FAFSA: a Boon for 8 Million Students

Today’s economy poses a threat not only on professionals but also on students. Students usually depend on parents for expenses related to their education. When the parents are caught in a tough financial situation they are unable to pay for their child’s tuition. In such situations many children are forced to work part time jobs which do not let them concentrate completely on their studies. Some students facing financial difficulties drop out of school and never pursue college education. For drop outs the number of employment options is very few and they continue to battle with financial issues all their life.

Keeping this is mind the U.S. government’s education department has provided students with financial aid in the form of FAFSA that is the Free Application of Federal Student Aid. These student aids are being received by approximately 8 million students annually. Hence, one can say that approximately 8 million students receive higher education and better career opportunities every year. Student loans, grants and financial aid are sponsored by the college or university. Work and study schemes are also available for those students who cannot apply for a loan and do not receive any grant of financial aid.

Firstly students should decide when to apply for online FAFSA. Meaning, which year they think they need financial aid and which month they will fill the application form in. FAFSA is made available every year on the 1st of January. Most of the financial grants that students can avail have deadlines that is the reason why applying at the earliest increases one’s chances of getting financial aid.