Learn about financial aid: how the FAFSA can help pay for your education

You’ve probably heard of the FAFSA, or Free Application for Federal Student Aid. But you may not fully understand how completing your FAFSA can help you and your family pay for your education. Many students — 85%, according to a 2021 LendingTree study — think the FAFSA only determines which loans students and parents are eligible for, but loans are only part of the FAFSA’s determination.

As you learn more about financial aid, you’ll understand why the FAFSA is such an important part of paying for college.

Why should you complete the FAFSA

The FAFSA helps determine if you qualify for free help, such as grants, financial awards that you don’t have to repay. Completing the FAFSA can also help you qualify for work-study jobs. These college jobs can provide you with a steady income while you’re in school to help offset the cost of your education. Azusa Pacific University offers many on-campus and work-study programs.

You might think you don’t need to file a FAFSA because your family income is too high. But many places that give merit-based aid, or aid based on your academic performance, require you to submit a FAFSA. Also, it’s a good idea to have a FAFSA record in case your family’s financial situation changes.

How to submit the FAFSA

Each year, the FAFSA opens applications on October 1st. It is a good idea to apply as soon as possible because some grants are awarded on a first-come, first-served basis.

To complete and submit the FAFSA on studentaid.gov, you will need information about your family’s personal and financial situation, such as how many people in your family attend college and what income you and your parents have. won.

The FAFSA asks for income and tax information for the previous two years. For example, if you are completing the 2021-2022 FAFSA, you will need your 2019 tax records. The FAFSA can link to the Internal Revenue Service and extract financial information from your tax records if you give permission. .

You’ll probably want to set aside about an hour to complete your FAFSA. It may be helpful for you and a relative to complete the form together if you are a dependent, as you will both need to provide information.

How APU can work with you

APU can help you and your family learn more about financial aid, complete the FAFSA, and connect you with other financial resources that can help make an APU education accessible. There are many options that can help you and your family pay for your education, including scholarships, grants, and loans. In fact, 100% of APU students receive financial aid, and APU aims to give all students the maximum amount of scholarships, grants, loans, and work-study jobs for which they are eligible.

At APU, you could receive:

  • Scholarships ranging from $11,000 to full tuition per year, renewable for up to four years
  • Crowdfunding scholarships for athletics, community service, leadership, music, drama, certain academic programs, or military service
  • Federal, State, and APU Grants
  • Student and parent loans
  • Work-study job

APU recognizes that enrolling in college is a significant financial commitment, but by completing the FAFSA and using the support services at APU, the burden could be eased. Are you ready to complete your FAFSA? The APU Undergraduate Enrollment Service Center offers more advice that can help you.

Leave a Reply