Due to the large number of different types of federal financial aid available, it is important that you understand the federal financial aid guidelines. For students needing financial aid, the following guidelines can be instrumental in ensuring that the financial assistance is received when needed. Do not become ineligible for financial aid by not knowing the federal financial aid guidelines.
First of all, the responsibility of ensuring that the processing of the application is completed is yours before you are cleared for registration. Clearance is considered the first step in the overall process that leads to registration. A student needs to be financially cleared by the FIDM Student Financial Services Office before registering. A Free Application for Federal Student Aid (FAFSA) needs to be completed and returned to the college.
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Unless you’re very wealthy, when you apply for college you need to explore financial aid opportunities. But the process can seem confusing, and before you seek the assistance of your college financial aid advisor you should know how the system works.
Two of the terms you will hear are “FAFSA” and “CSS Profile.” Both are applications that you fill out with your financial and personal information. The information is used by the college to help determine how much financial aid you will receive. But what’s the difference? Do you have to submit both?
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The cost of a college education is rising every year. This year the average cost of a private four-year school was $26,273, up 4.4% from last year, and the average cost of a public school was $7,020, up 6.5% from last year. For most families, paying for college is a struggle. If you feel like you do not have all the pieces of the financial aid puzzle, you are not alone.
On January 1st the 2010-2011 FAFSA (Free Application for Federal Student Aid) was released. The FAFSA is probably the most important part of the financial aid puzzle. If you are planning on attending college in the fall of 2010 you should be in the process of submitting this form. The FAFSA determines how much federal financial aid you are eligible to apply for. There are three basic types of federal student aid:
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