Lizzie asks…
What types of aid are available from FAFSA?
Hi,
i wanted to know what type of grants are available from the FAFSA; grants that do not have to be repaid. What is the maximum in Pell Grant that a person can get?
Michelle answers:
The Table on Page 2 of this book explains all the grants available from fafsa. Including the amounts of each. The max Pell grant a person can get (when they have an EFC of 0) is 5,350 per year if they attend full time. A person who qualifies would get half of this amount in the fall and half in the spring.
Http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighSchool_0910.pdf
Nancy asks…
Would i be eligible to get fafsa loan as an undergraduate married student?
Am 27 years old and planning to go back to school next year over the spring semester. Therefore I would have to quite my job or work part time if I get accepted to college… However to cover my expenses I definetly need a fafsa loan. I have two kids and my wife makes around 12000 a year. Do I still have a chance to get a loan considering all the circumtances i’ve mentioned above? Your answers would be very appreciated
Michelle answers:
The FAFSA is not a loan program. It is just a federal form most colleges, some adult ed departments of school districts, etc. Use to determine if you are eligible for grants, loans or any type of financial aid. You fill it out online and the result will tell you what your family responsibility is.
Http://www.fafsa.ed.gov/what010.htm
Charles asks…
Do I need to fill out a FAFSA to take out loans from a credit union?
My tuition is due July 30 and I still haven’t filled out my FAFSA for the 2008-2009 school year. I am just wondering if I will still be able to take out loans through my credit union.
Also- if I need to fill out a FAFSA, would I be better off taking out loans with the government or through the credit union?
Michelle answers:
Most colleges require you to have the FAFSA filled out before you will be able to take out a loan.
As for which institution to get the loan through… That is up to you. The most important factor to consider is whether or not the loan you are getting is subsidized or unsubsidized.
It is best to take the subsidized loans first (because the government pays the interest while you are in school) and use unsubsidized loans for whatever amount is leftover, if any.
Daniel asks…
Do you need to fill out a FAFSA to apply for scholarships?
I know in the state of Florida, you need to fill out a FAFSA to apply for student loans, but is that the same for scholarships? Because unfortunately I am in the position where I can not fill out a FAFSA. Has anyone had to go through this before, does anyone one have some helpful information? If you know any good scholarship programs please share! It’s hard to find the right ones.
Michelle answers:
You full out FAFSA to get Federal Financial Aid, not loans. You can go to www.FastWeb.com for a free scholarship search.
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