What Current Students Need to Know About Financial Aid | My College Corner
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What Current Students Need to Know About Financial Aid

Sep 26, 2018

It’s very important that continuing college students reapply for financial aid EVERY YEAR! Even if your student didn’t receive any aid when your family first applied, it’s important to keep the Free Application for Federal Student Aid (FAFSA) open and up to date. If your family’s circumstances change, you may be able to appeal for  increased financial aid at a later date.

No one can predict the future.  Even if it appears current income and assets would put your family out of financial aid eligibility, circumstances could change down the road and suddenly college funding availability becomes a major factor.  Just getting a federal student loan requires the FAFSA to be filed, but the same goes for federal Pell grants and most state based grant programs.  Stay ahead by simply filing the FAFSA every year.

What are the deadlines to apply?

  • FAFSA opens October 1
  • College’s deadlines may be different from state and federal deadlines
  • Check the Student Aid deadlines for specific state dates here

What can change your financial aid situation?

  • Family circumstances
  • Multiple children in school
  • Job loss – drastic change in household income. Be prepared to submit a financial aid appeal outlining circumstances of household income change and provide supporting documents like tax returns, pay stubs, statement of employment and other forms as required
  • There is no way of knowing what aid will be given until you apply 

How do I renew my FAFSA?

  • There is a FAFSA Renewal form available online 
  • Some information will be saved and pre-filled in for you, so it’s easier to fill out
  • Re-submit the form by going to the FAFSA website, clicking the “Login” box (under “Returning User”) and following the instructions

TIP: It is not unusual for the federal government to make changes to the FAFSA form each year. You can find current FAFSA form requirements at https://fafsa.ed.gov.