posted by: Radnor Financial Advisors
The 2021-2022 Free Application for Federal Student Aid (FAFSA) was available starting October 1, 2020. Some colleges/universities will not award merit-based grants and scholarships without a completed FAFSA, therefore, it is crucial that all students make it a priority to complete the application.
The following resource provided by the U.S. Department of Education may be helpful as you navigate through and complete the FAFSA for 2021-2022.
Please note, that some aid offered by the Federal Government is awarded on a first come first serve basis. As such, it is extremely important to complete the FAFSA as early as possible.
Among the various types of financial aid available; the FAFSA may award students with the opportunity to obtain loans backed by the federal government which are generally offered at a much lower annual interest rate when compared to private student loans. Additionally, in some cases students may qualify for federal grants that do not need to be repaid, and/or work-study programs that offer a creative opportunity to provide cost assistance while bolstering their resume.