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  • Directions: Click in The Box and Type Your Answer To The Question. What Is FAFSA?

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    oscarwu1
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    The FAFSA is the Free Application for Federal Student Aid administered by the US Department of Education to award approximately $150 billion in student aid each year. Grants do not need to be paid back while loans do with interest. Students can complete the FAFSA as early as January and it must be completed by April 15th. Completing the FAFSA as soon as possible is important because aid is awarded on a first come, first served basis and 2015 tax information determines eligibility for both the 2016-2017 and 2017-2018 academic years. Generally, for every $10,000 increase in income, a student can expect $3,000 less in financial aid. It is not advisable to increase savings before college

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    fafsa questions from lee

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    Intro to FAFSA Questions_OscarWu

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    The FAFSA is the Free Application for Federal Student Aid administered by the US Department of Education to award approximately $150 billion in student aid each year. Grants do not need to be paid back while loans do with interest. Students can complete the FAFSA as early as January and it must be completed by April 15th. Completing the FAFSA as soon as possible is important because aid is awarded on a first come, first served basis and 2015 tax information determines eligibility for both the 2016-2017 and 2017-2018 academic years. Generally, for every $10,000 increase in income, a student can expect $3,000 less in financial aid. It is not advisable to increase savings before college

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    30 views1 page

    Directions: Click in The Box and Type Your Answer To The Question. What Is FAFSA?

    Uploaded by

    oscarwu1
    The FAFSA is the Free Application for Federal Student Aid administered by the US Department of Education to award approximately $150 billion in student aid each year. Grants do not need to be paid back while loans do with interest. Students can complete the FAFSA as early as January and it must be completed by April 15th. Completing the FAFSA as soon as possible is important because aid is awarded on a first come, first served basis and 2015 tax information determines eligibility for both the 2016-2017 and 2017-2018 academic years. Generally, for every $10,000 increase in income, a student can expect $3,000 less in financial aid. It is not advisable to increase savings before college

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Name:

    Oscar Wu

    Date: 11/19/15

    Period:

    Directions: Click in the box and type your answer to the question.
    What is FAFSA?
    1. What does FAFSA stand for?
    Free Application for Student Aid
    2. Who administers FAFSA? How much student aid is awarded per year?
    US Dept. of Education; ~$150 billion/year
    3. Explain the difference between federal grants and federal loans.
    Grant do not need to be paid back. Loans do need to be paid back along with interest.
    4. What is the earliest I can complete my FAFSA? When does it HAVE to be completed?
    January; April 15
    FAFSA Tips: What To Do Before the End of 2015 To Boost Your Odds
    5. Why is it important to complete your FAFSA or TASFA as soon as possible?
    First come first serve policy
    6. Why is 2015 tax information doubly important?
    It counts twice-2016-2017 year and 2017-2018 year
    7. Generally, what is the formula for decreasing financial aid?
    Every $10k increase in income= $3k decrease in financial aid
    8. Is it a good idea to increase your savings before college? Why or why not?
    No as it will decrease your financial aid package.

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