(WALL) – Starting Thursday, families sending students to college will be able to complete the free state grant application – also known as FAFSA.
Financial expert Megan Gorman said it was important to fill out the FAFSA early as more families are expected to apply this year due to the economic impact of the COVID-19 crisis.
“There’s $ 150 billion in federal aid, and that help comes in the form of loans, grants, and even study programs. But here’s the most important thing to remember, first come, first served.”
The form will be available from Thursday and you can apply online or via the app.
Gorman said, “People’s income that is reported for FAFSA purposes is their 2019 tax return, but that doesn’t mean you can’t report to the federal government that economic circumstances have changed.”
Families in financial need can take additional steps to request a “professional judgment” review by filing information such as layoffs or unemployment checks.
The college’s grant offices will then have the discretion to make adjustments to the FAFSA that will allow students to qualify for additional grants.
“It seems like busy work, and it’s not a lot of fun, and it takes a while to see the results … but eventually you will.”
When applying for a FAFSA application, a list of the schools you wish to use must be provided. Financial experts suggest casting out a wide web of opportunities in order to get more financial options.
For more information on how to apply for a FAFSA application, please visit Click here.