Hi. When’s the best time to apply for financial aid if you want to go back to college, and what kind of financial aid should I apply for if you are a college grad?
Assuming you are a U.S. citizen looking at U.S. schools, fill out the FAFSA as soon as you can. You need your 2007 tax return info to complete it, so get your tax return done ASAP, even if you don’t file your return until later.
This is the time of year when lots of college/universities are offering free financial aid seminars. If you can find one, go to it.
March 1 is a very common financial aid “priority” deadline date for a lot of schools. That’s not to say you won’t get any aid if you apply after that date, but late appliers get what’s left after awards are made to people who met the deadline.
If you’re interested in finding our what financial aid you can get from a specific institution, you won’t be given a financial aid package until you’ve applied and been admitted, so do that step ASAP, too.
Generally, colleges and universities will consider you for all the forms of aid they offer, based on your FAFSA. If there are specific application requirements for scholarships, the college/university web site or financial aid office should tell you that.
Go for as much aid that you don’t have to pay back as you can (i.e., grants and scholarships vs. loans).
There are many free web sites out there that enable you to search for scholarships. If a web site asks you to pay for their search services, go elsewhere. There are scholarships based on area of study, ethnic heritage, geographic location, you name it. Your local Rotary Club or other community organizations may offer scholarships. Check those out, too.
Thank you-do you have to fill out a FAFSA form now, even if you plan on going to school in the fall?
Someone said if you are a graduate you can’t apply for PELL grants-is that true?
In most cases, that would be correct, but not all.
In the event that you do have to borrow, the graduate loans in question would be the Graduate Stafford Loans (both in subsidized and unsubsidized forms) and the Graduate PLUS Loans.
If you know what school you are going to attend (or even if you’ve just narrowed it to a few), call the financial aid office and ask to speak to a counselor. They get paid to help people get the best grants and loans they can, and they’ll have all the answers you need, and even know things specific to their school.
Yes, now is the time to fill out a FAFSA for fall.
I don’t want to encourage you to procrastinate, but last fall I filled out a FAFSA 2 weeks before my grad courses started, and the loans still went through on time. I wouldn’t recommend this approach unless you are the ‘gambling for nothing’ type.