October is the time to start applying for Federal Student Aid for the next academic year. Beginning Oct. 1, you can start filling out the application for Federal Student Aid. The deadline for the 2020–2021 academic year application is June 30, 2020, with the priority deadline of Jan. 15, 2020.
What are FAFSA and WAFSA? The Free Application for Federal Student Aid, or FAFSA and Washington Application for Federal Student Aid — WAFSA — are available to anyone who is in college or university. These two applications will determine your eligibility for grants, scholarships, loans, work study funds and other forms of federal and state funded financial aid programs.
The difference between FAFSA and WAFSA is that WAFSA is available to students who may not be eligible for FAFSA due to immigrant status. However, nobody can apply to both WAFSA and FAFSA. The reason for this is that you are only eligible for WAFSA due to immigration status. Eligibility means to be a U.S. citizen or a non-U.S. citizen with a valid social security number.
To fill out your corresponding application, you will need tax return documents, W-2 forms and other records of money earned. You will also need personal information — including your social security number and bank statements. If you have them, you will also need a record of investments and records of untaxed income. Finally, you will need an FSA ID to ensure you can sign all forms electronically.
One of the main benefits to FSA is the interest rate on the loans is significantly lower than private student loans. Being in college, students try to save money in as many places as possible. Interest rates on their loans is one of the last things that they want to worry about repaying, even with the six month grace period. When asked why students should apply to FAFSA Director Victoria Hill of Student Financial Aid and Scholarships gave her insight on the matter.
“Even though sometimes people might think they know what their need is or they might think their not eligible, its been researched and documented that students can be eligible for something even though they think their not and so you can’t know unless you apply,”Hill said.
The Office of Student Financial Aid, located in MAT 206, encourages students to apply by the Jan. 15, 2020 priority date. Students who apply after the priority date will not be considered for the maximum amount of funding that they are eligible for.
The financial aid office is located in MAT 206.
Hours: Monday – Thursday 8 a.m. – 5 p.m.
Friday 9 a.m. – 4:30 p.m.
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Counselors are ONLY available during Drop-in Advising Hours
Article last updated: October 15, 2019 @1:16 pm