Basic Requirements For Student Financial Aid Eligibility

Every business needs to be protected from certain risks to stay away from financial loss. To do this, businesses need a particular type of insurance depending on the kind of business environment they’re in. A hotel insurance, for instance, is a kind of insurance that’s purposely designed for hotels to meet their needs. Normally, it is written as a bundle or package policy, wherein a single policy encompasses numerous separate coverages. These individual coverages within a policy are frequently tailored for a specific situation of a hotel.

Businesses and entrepreneurs have a lot of options in terms of insuring their business as well as in securing funds to promote, improve, or expand their business. This is different for individuals who are still in school, especially students headed for college since getting a college education and getting through it could be very pricey.

Why Consider Financial Aid?

Most often, when parents and students think about college, they might feel a great deal of stress and pressure particularly on how to come up or where to get the needed money to afford tuition, lodging and accommodation, books, school supplies, as well as other school-related fees. It is known that college could be incredibly expensive, which is why increasingly more students rely on financial aid to somehow fill in the space between what they could manage to pay for and the price of college.

The procedure for applying for a financial aid isn’t that confusing so long as you are correctly educated about it and have all the basic requirements. Moreover, there are numerous funding alternatives that could make meeting the expense of a college education possible for just about any student and their parents.

The most usual available kinds of financial aids are grants, scholarships, and student loans. Grants and scholarships don’t have to be paid back. Loans, on the other hand, have to be paid back, typically after they’ve completed college. Each type of aid require different kinds of requirement so make sure you read up on this.

Basic Requirements For Federal Student Aid Eligibility

The basic requirement for federal student aid are on citizenship and requirements connected to the capacity of the student to benefit from a college education:

  • Must be citizen of the United States, a permanent resident or a qualified non-citizen
  • Should have an unexpired Social Security number, excluding students who are from the Freely Associated States
  • Should have a diploma in high school, an acknowledged equivalent of a diploma in high school such as a GED certificate, or have finished a curriculum in high school for home schooled students
  • Must be enrolled, or accepted to be enrolled, as a student in an qualified course or certificate program at a university or college eligible for a federal student aid.

FAFSA Filing Season is Now Open – The Importance of Filing as Early as Possible

The Free Application for Federal Student Aid or FAFSA filing season for the 2020-2021 school year, opened last October 01, 2019. Those intending to apply for financial aid to pay for college education should complete and submit their
FAFSA as early as possible.

Although the FAFSA filing cycle goes on for a period of 18 months from the October 01 starting date, completing an application sooner than the June 30, 2019 deadline is the best way to increase one’s chances of securing financial assistance.

First off, it should be clear that financial aid is college education money that does not have to be repaid. Although nearly all FAFSA applicants qualify for some form of financial help, most need-based aid and grants are awarded by states on a first-come-first-serve basis.

According to a recent report from Sallie Mae (SML Corp.), the private lending company that handles loans availed by college students, around eight (8) in every ten (10) American families seek for financial aid through scholarships and grants. Yet more than half of those families were constrained to take out student loans. This suggests that most need-based applicants had missed out on free financial aid offered by the federal government, by the state and/ or by different private sectors.

It is also important to know every state reserves the right to set a deadline that may be earlier than the federally prescribed end of the 18-month FAFSA season.

FAFSA State Deadlines for School Year 2020 – 2021

In some states like Alabama, Arizona, Colorado, Georgia, Hawaii, Nebraska, New Hampshire, New Mexico,Rhode Island, South Dakota, Utah, Virginia, Wisconsin and Wyoming, seekers of college education financial aid must first check with their state’s Federal Student Aid Administrator, as the deadline may be dependent on some other documents required by the state government.

Other states give advice for applicants to submit as early as possible after October 01, because the available financial grants are awarded on a first-come, first-served basis until depleted. The list includes Alaska, Arkansas, Illinois, Indiana, Kentucky, Nevada, North Carolina, North Dakota, Oklahoma, Oregon, South Carolina, Tennessee, Vermont and Washington.

Some U.S. regions specifically set a FAFSA deadline for priority considerations. This denotes that those who submitted after the deadline and after the priority applicants have been served, can still apply until the end of the FAFSA season. States that maintain deadlines for priority listing include Connecticut, District of Columbia, Idaho, Kansas, Missouri, Montana, Texas

States with Specific FAFSA Deadlines:

California — March 02, 2020 for most state financial aid programs:

Delaware — April 15, 2020, by midnight CT.

Florida — May 15, 2020 (date processed).

Iowa — July 1, 2020, by midnight CT.

Louisiana — July 1, 2021 (recommended).

Maine – May 1, 2020, by midnight CT.

Maryland – March 1, 2020, by midnight CT.

Michigan – March 1, 2020, by midnight CT.

Minnesota – 30 days after term starts, by midnight CT.

Mississippi – June 1, 2020, by midnight CT.

New Jersey – April 15, 2020, by midnight CT

New York – June 30, 2021, by midnight CT. Additional forms might be required.

Ohio – Oct. 1, 2020, by midnight CT.

Pennsylvania – Aug. 1, 2020, by midnight CT

Tennessee – Feb. 1, 2020.

West Virginia – March 1, 2020.

Senior Citizens Going Back to College, Consider Grants for Non-Traditional Students

About a decade ago, going back to college was a popular feature of senior citizen retirement plans. In 2007, the National Center for Education Statistics had tracked a steady increase in the number of older adults ranging in ages between 50 and 64, who went back to higher educational institutions to pursue a degree. About 625,000 seniors went back to college in 2007, which peaked to as many as 8.9 million by the year 2010.

However, the years thereafter saw the numbers started going on a continuous decline.

Presumably, the effects of the 2008-2009 Great Recession took a toll on the economic resources of older adults; making it impossible for the next wave of retirement-eligible seniors to include going back to college as a future plan.

Due to this, higher education authorities saw the need to focus on the needs of older college students. In the Hechinger Report published by a non-profit news organization that gives attention to inequality in education, Mark Kantrowitz, SVP and publisher of Edvisors.com said

”Most older adults assume that just because they are no longer 17 years old, or are not working, they do not qualify for financial aid,”

Financial Aid Available to Older Adults Seeking to Continue and Complete Higher Education

Senior citizens planning to go back to college should know that there are several financial aid packages available to them. Be it federal, state, or private grants, older adults should explore financial aid under the non-traditional students category.

Federal Grants – Information about federal grants can be accessed by filling out the Free Application for Federal Student Aid (FAFSA), which is the initial step to determining the federal grant that best suits one’s financial need.

State GrantsAll state governments receive federal funding in the form of block grants, or grant-in-aid in specific amounts. State and local authorities allocate them as grants for various programs; including providing support to both traditional and non-traditional students needing financial assistance.

Private Grants – Public and private colleges and universities are likewise important sources of financial aid available to older adults. Most of which are endowments coming from private individuals or foundations. Seniors can find out about current non-traditional educational grants by inquiring from the institution’s Financial Aid office.

Cashing Out the Equity Value of an Owned-Property as an Additional Source of Funding

Although educational grants can help older adults pay for college tuition, pursuing a degree gives rise to other expenses that could eat away money allotted for basic needs.

One way by which senior citizens can augment their economic resources is by cashing in on the value of their property. This can be done by taking out a loan against an owned-home, but without being burdened with monthly payments to settle the obligation.

An equity release though is available to older adults aged 55 or above who currently live in an owned-home. That is because the financing scheme works on the principle that a real estate usually appreciates in value.

The total amount due as payment for the cash borrowed can be deferred upon the sale of the property held as collateral. Selling transpires once the senior borrower passes away; or has entered an assisted living facility.

However senior citizens should take note of the costs they have to shoulder before they can close an equity release deal. As the expenditures include various fees such as legal, valuation, processing, consultation and/or completion fees, as well as building insurance, it would be best to get a hold of an equity release calculator cost determinator, before agreeing to a lender’s offer.

Student Financial Aid – Grants, Scholarships, Student Loans and Work-Study Programs

Companies like American Pride Legal Funding could arrange for immediate settlement loans for vehicular accidents. Such source of finance could be very helpful especially for individuals who don’t have enough or extra money to pay for unexpected expenditures. There are other lending companies who also offer loans for various intents like for paying off credit card debts or utility bills, home renovation, and more.

For students, especially those attending college, having a financial aid to help pay for their education is something that many would wish to have. Financial aid supports and make it possible for students to pursue their studies in a university, college or trade school, which is one of the most crucial and weight pillars of the system of higher education in America.

Various forms of financial aid for students like scholarships, grants, as well as loans with low interest rates allow individuals to attend and hopefully finish a higher education that will, all being well, direct to a fulfilling career and life.

Financial Aid – What is it?

College or university schooling, including vocational courses, offers a lot of students with stepping stones to gratifying and fulfilling job opportunities as well as heightens their chances for incomes that are higher, superior career satisfaction, and more content lives. However, millions of students in the US as well as across the globe find it arduous to meet the expense of their education by themselves.

Financial aid, in simple term, is money for college. It is a type of funding that is typically loaned or granted to students with the intention of taking up higher learning in a college or university or a vocational training or course. A financial aid could be from numerous various sources, which includes private organizations, schools, and governments. Several of these financial aids are considered gifts that don’t need repayment, while other types of student financial aid entail repayment frequently at low interest rates.

Types of Financial Aid for Students

Students could choose from various types of financial aids. In numerous circumstances, a college student could apply and be assisted by a combination of available financial aid types, depending on the college course you decide to pursue as well as if you are qualified or not for any merit- and/or financial aid that is based on need.

  • STUDENT GRANTS

It is a key type of financial aid in the federal level. Similarly, numerous state governments as well as private organizations bestow student grants. A student grant is gift in monetary form that need not be repaid and is generally bestowed to students based on their degree of financial need, GPA, field of study, and other factors.

  • SCHOLARSHIPS

Scholarships are greatly valued wherein a great number of organizations and institutions award them. Similar to grants, a scholarship is a monetary gift that don’t need to paid back. It is frequently given based on a student’s achievement whether academically, in athletics and sports or the arts. At times, scholarship is given as a prize for winning a competition, or based on other factors like area of study or race.

  • STUDENT LOANS

This a type of financial aid that majority of students get since most of them qualify. Student loans are meant to be repaid in fixed payments on a regular basis. It is at times sponsored by the government and are granted based on a student’s income and/or the income of the family, credit history, and other factors. A maximum loanable amount each year is usually set. Banks also offer student loans but it comes with a higher rate if interest.

  • PROGRAMS ON WORK-STUDY

By having a part-time job, this program allows a student to have an income while attending college. Typically, these part-time jobs are located within the campus or close to an organization or institution connected to a curse of study of the student. Students usually make use of their income to cover the expenses on books, transportation, and other expenditures for school needs.

Understanding the Importance of GPA: Why It Can Impact Your Financial Aid

GPA, which stands for for Grade Point Average is a standard method of measuring the academic achievement of a student in the U.S. for both secondary and college levels.

A satisfactory GPA in addition to other requirements asked for by an educational institution, presents a gauge of satisfactory academic performance. It is an important basis not only for for college admission but also in seeking financial aid to complete a course in higher education.

 

 

This denotes that a student who was able to secure financial assistance must strive to maintain a GPA considered as acceptable by institutions involved in awarding financial support. Otherwise, failure to maintain a GPA at the required satisfactory level can result to losing the financial support counted on as means of completing a college degree or course.

Ways to Avoid Losing College Financial Aid as a Result of Unsatisfactory GPA

The moment a student enrolls in college or university that facilitated the granting of a financial aid, it is important for that student to familiarize him or herself with the standards required by the institution. That is because standards of satisfactory progress depends on the policies outlined by the college or university in which a student is enrolled.

Another important matter to keep in mind is that the calculation of a student’s GPA at high school level, is different at college level. The A to F grading system, when given an equivalent score using a 4-point scale still depends on the number of units represented by each course.

When speaking of number of units, also known as course credits, it refers to the number of hours of lecture and homework devoted by a student every week to complete a subject during a school year or semester.

Number of units is usually three in every secondary level course. Yet this is not always the case in college courses, because course credits or number of units could vary even by a fraction. Variations in number of units or course credits therefore can affect a GPA that a student presumed as already satisfactory.

Knowing how to calculate one’s GPA can help in raising one’s awareness of whether he or she is on track, or falling below the standard required by the educational institution.

 

The most important action that can help a student maintain satisfactory academic progress is to communicate to financial aid officers, advisers and professors any problems encountered in relation to one’s academic endeavours.

As a rule, colleges and universities notify students if it seems they are at risk of failing to meet the satisfactory academic progress required by the school. That way, the students will have time to seek consultations on out-of-the ordinary problems that may be preventing a student from maintaining satisfactory academic performance that is necessary in keeping one’s financial aid intact.

Student Financial Aid : A Solution to Higher Education When Chosen Wisely

Receiving student financial aid is an important solution to problems faced by prospective college or university students. Yet more often than not, student loans also pose as additional stressors once financially indebted students actually enter life on campus. While they go through feelings of desolation by being away from home and family, students are also faced with difficulties in coping with new situations and with different kinds of people, and most of all, with tougher academic requirements.

Dr. Victor Schwartz of The Jed Foundation, a non-profit organization formed to provide protection and emotional health support to adolescents and young adults, opines that financial struggles affect different aspects of a student’s life on campus. Simple things such as food availability and housing security may be provided with solutions by taking on multiple jobs. As they struggle to balance those with academics, they are not getting enough rest or sleep. All of which leads to physical stress and mental anxiety.

Currently, several Democratic presidential candidates are promising education reforms regarding free college tuition, and of eliminating student debts altogether. In the meantime, since they are still political promises that may or may not be fulfilled, university and college students have to face the reality that their struggles continue.

Students Likely to be Hit with Mental Health Problems

Apparently, students coming from low income families who view college education as a way of improving their status in life are the most affected. Although student financial loans give them a chance to fulfill their aspirations, visions about a better future becomes blurred once the toll of financial and academic struggles affect their mental well being. After all, how they fare with their higher learning will affect their chances of landing higher-paying jobs once they complete their college education.

Often times, students who rely on a combination of academic scholarships and student loans become vulnerable to feelings of anxiety and depression. Not a few are aware that they are already experiencing mental health problems that require professional counselling. As they try to cope with both academic and financial struggles on their own, their anxiety about the future worsens, making them doubt altogether whether or not the future will be worth all the trouble they are currently going through.

Choosing the Right Educational Institution by Looking Into Those that Provide Sufficient and Proper Student Support Services

The Jed Foundation recommends that one way of alleviating and avoiding anxiety over student financial aid loans, is to choose from educational institutions wisely. The foundation forewarns that for-profit colleges are likely to have fewer mental health services to offer as support, when compared to private schools or colleges that are part of a large system that receives funding support.

Still, such may not always be the case. University Primetime, a popular source of higher education news gathered statistical data in analyzing the rising rates of depression in campuses. Based on their statistical analysis and survey, college news website released a list of educational institutions in which cases of depression among students are high.

The published list named the University of California, Berkeley, New York University, Cornell University, Duke University and the Pennsylvania State University, as the top five higher education institutions in which mental health issues are becoming prevalent. A problem that most universities and colleges must address by improving the mental health services made available to students.

Financial Aid Options for College Students

Clickfunnels trial is a great way to test out the superlative and suitable builders of sales funnel/landing page in the market which is an advantage for many entrepreneurs. If only such trials were possible for students entering college to dummy run possible financial aids, then they would get to really experience and understand which options are best for them.

Students could be overwhelmed in searching for ways and means to compensate for college tuition and other fees since there are various possibilities to choose from, from federal funding possibilities to what the college could offer to the student and to the less conventional ways of funding sources from the outside as well as maintaining equilibrium between work and academics.

Financial Aids for College Students

A crucial responsibility of a school counselor is to help students comprehend their options. Instead of centering on a single source of financial aid or funding over another, these students have to be familiar, exposed and open to different forms of funding. Students who are concerned about the low wages of their parentages will perhaps be eligible for several federal grants.

The office for financial aid at every college has knowledgeable and expert personnel to manage the financial aid programs as well as to counsel students together with their families on the opportunities for financial aid available to them.

With regards to getting a scholarship in college, students who are apprehensive about their unsatisfactory academic record must know that there are grants or scholarships that don’t heavily delve into grades, standardized test scores and GPA. Obtaining college funding or financial aid is imperative; however it’s likewise crucial for students to be aware of available possibilities and those that tailor to them personally.

Financial Aid – What is it?

Financial aid or funding lends a hand to students as well as their families to pay for their college fees. This aid covers scholastic expenses that include tuition and other fees, board and lodging, transportation, books and school necessities. There are a number of financial aid types which includes scholarships, loans and work-study opportunities. It may also incorporate a combination of the different financial aid types.

Federal Aid

Federal aid will forever be an imperative and substantial piece of the financial aid package of a student; however students who aren’t acquainted with the process of applying for this aid may find it unnerving and intimidating since it entails things like the income and savings of their parents. For students and/or parents applying for a Federal Student Aid for the first time and are in need of assistance in completing it, their counselors in high school and/or the financial aid officer of the intended college will work as terrific resources. It is vital to immediately complete an application for Federal Aid once it is available which is usually on the 1st of January of each year since a lot of colleges give out federal funding applications that are on a first-come, first-serve rule ’til slots are all filled up. Moreover, it is crucial to cautiously follow directions to avoid any delays and deferments in the process and development of the application and as the levels of funding may possibly change each year, it’s central for student applicants to be conscious of deadlines.

Student Loans

Although the idyllic package of financial aid is without any student loans, in actuality, that the majority of college students will require various student loans to finish their degrees in college. Educators and counselors must ensure that students comprehend the value of making every effort to ease off debts when departing their corresponding colleges as well as to recommend effective ways and means in avoiding debt inconvenience from spiraling. Edifying students regarding the various student loans and the most appropriate loan alternatives available to them will ultimately enable students to make wise decisions in financing their future.

Student Financial Assistance Used For Cryptocurrency Investments

It had been known that many college students are riding on the digital currency craze head first. It was reported that these college students had been using their student loans to invest on cryptocurrencies such as automated bitcoin trading.

Financial authorities who found out about this trend said that this could be very risky specifically to those who are taking out private student loans versus financial student aid, considering that private loans impose higher interest rates and non flexible repayment schemes.

Funds Intended For Living Expenses Were Invested

Student loan borrowers can do this because they can use the remaining of the student loan funds for “living expenses”. Most of the time, student borrowers get higher loans which is more than what they need for the school semester.

As soon as the college or university’s Financial Aid Office takes the required financial assistance to pay for the course, a refund check will be sent out to the student borrower. The student borrower on the other hand can use the refund check to cover for his or her living expenses.

In essence, there is no policy or procedure in place that ensures the student borrower spends the remaining money on college living costs. Consequently, the borrower can invest the money the way they want to. Obviously, for quite a few students, they think it is best to use this money to invest in Bitcoin, Ethereum, and many other virtual currencies.

Decline In Crypto Prices In 2018

In 2017, the hottest investment in the market are cryptocurrencies. This is especially true for young college students in America. That’s why many college borrowers are drawn in to invest thinking that this is a smart way to put their refund money.

Some students may have figured that they can pay off their student loan quickly with their crypto investment too considering that when bitcoins have started, digital money seem to have great returns.

However, in 2018, the days of massive price increases appear to be miles away. Digital currencies, particularly the giant cryptos, Ethereum and Bitcoin, have fallen sharply from record high prices, and daily price volatility is more consistent with common stock.

Should these students invest more wisely and carefully, they could have avoided the huge lost incurred in 2018. Diversified investments could have been a better investment path like investing a partial in crypto, then a few on high yield savings, and etc. However there could always be yet another explosion of growth in digital currency, and student borrowers will receive far from what they have invested. Or, they may quickly lose all the financial assistance money they have invested.

FAFSA4caster : Estimating Your Financial Aid Need and Eligibility

The FAFSA4caster is an online tool that high school students can use when anticipating their need for financial assistance upon entering college.

It is an online calculator provided by the Federal Student Aid Office to students such as those in junior or mid school level, and to parents who are not sure if they have the means to send their child to college. The FAFSA4caster is the next best tool to use to get a close enough estimate of a student’s eligibility for financial aid.

Knowing that the government calculates financial need by deducting the Expected Family Contribution (EFC) from the Cost of Attendance (COA) is a good start. However, having a near accurate estimation of the inputs to use for the formula, is better than making a wild guesstimate. Through the FAFSA4caster tool, an anticipating high school student or parent can obtain better estimates of the COA and EFC.

How does the FAFSA4caster Work?

The FAFSA4caster displays a worksheet that must be filled with the Cost of Attendance (COA), such as tuition fees, other educational expenses and living costs of the student’s chosen school. To get the information you need, go to the College Scorecard page of the U.S. DepEd.

A household’s potential financial contribution, on the other hand, can be estimated by providing answers to the FAFSA4caster questionnaire that determines financial capability of a potential college student. Here, it is important that all questions will be given answers even if based on near-enough guesses or estimates. Be ready with some personal records as some questions need answers based on personal documents such as bank statements or federal tax returns.

After which, the tool will display several sources of college funds, whilst indicating eligibility for federal financial aid like Pell Grant, Direct Subsidized or Direct Unsubsidized Loan, or Federal Work-Study program. If there are any state aid or college financial assistance that a student or parent considers as potential source of college funding, fill in the appropriate worksheet fields with the amounts.

Hitting the “Calculate” button will summarize the total anticipated College Attendance Cost, and the total potential financial aid. The resulting difference between those 2 sums will be Net Cost of Attending College. The Worksheet will also generate the Expected Family Contribution.

Since the goal is to determine a student’s financial need, apply the amounts generated by the FAFSA4caster as Total Cost of Attendance (COA) and Expected Family Contribution (EFC) for the government formula: COA – EFC = Student’s Financial Aid Need.

What Financial Assistance Can a Resident of New Zealand Receive?

If there’s one word to describe New Zealand, it is surreal. Because of the natural beauty that New Zealand offers and a booming economy, it’s no wonder why many people would like to visit New Zealand. Many seniors are willing to invest their entire retirement savings to live a simple life in New Zealand.

Through the years, New Zealand has always demonstrated great culture. In recent years, the humble nation has developed incredibly as shown in its booming economy. While poverty had been a problem in many countries, poverty seems to be the least of the nation’s problem. Kiwis are by nature caring and had always shown a strong dedication to social welfare. In fact, in 1898, New Zealand had been the first nation throughout the world that had introduced pensions for the elders.

A look at Financial Benefits provided by The Social Welfare in New Zealand

  • Financial assistance is provided to those who are unable to work due to an illness or an accident
  • Assistance with retirement savings
  • Support for elders which includes New Zealand superannuation or old age pension as well as other financial and practical support.
  • Companies are provided to provide maternity leave for expecting mothers
  • Housing and accommodation assistance
  • Assistance package for families and for those working for families

Note: Beneficiaries are natural born citizens and residents who have been leaving in New Zealand for at least two years.

New Zealand Job Seeker Assistance

The Jobseeker Support is offered to those who were made redundant, laid off, or simply not able to work due to an accident or illness. There are numerous scenarios to qualify for the Jobseeker Support program. The top qualification requires that the applicant should have been living in New Zealand for no less than two years since being a recognized citizen of the country.

Should you be eligible, you will additionally get a Community Services Card for medical expenses such as visiting a doctor or to purchase prescribed medications.

Should you lose the capability to work as a result of redundancy or illness and that you have children 18 or under, you will additionally get a family tax credit from Inland Revenue even while you’re on a benefit.

Should you lose the ability to work due to an injury resulting from an accident, you may qualify for the ACC or the Accident Compensation Corporation. You could receive up to 80% of the taxable income that you used to be made prior to your personal injury.

Indeed, New Zealand is among the nations that foresee the needs of the people. Apart from financial assistance that the government available to those duly qualified, anyone can also get a quick loan. If you Need Money Now, there are many ways to gain access to cash so long as you are more than 18 years of age.

Know the Basic Eligibility Criteria When Applying for a US Dep Ed Financial Student Aid via FAFSA

When making plans to apply for federal student aid, the first thing to learn about is the Free Application for Federal Student Aid or better known as FAFSA. This is a free form provided online by the U.S. Department of Education, which administers the different types of federal student aid offered by the government.

Create an FSA ID to Access the FAFSA

An applicant must first register with the Federal Student Aid (FSA) U.S DepEd website to create a password-protected user account. The FSA ID serves as a single signing-in identification when accessing the FAFSA document and other financial aid pages of the U.S. DepEd customer-facing website. Once an FSA ID account has been created, an applicant can now access and fill up the FAFSA form.

Basic Eligibility Requirements to Qualify for Financial Student Aid

In evaluating a FAFSA, the FSA US DepEd will look into the following information to determine if an applicant is eligible to receive Financial Student Aid.

Financial Need

A demonstration of financial need is necessary, when applying for a Direct Subsidized Loan that provides financial assistance to undergraduate students seeking to enroll in a college or career institution. Here, a student must specify the significant reason why his or her family cannot afford to pay for college or career education. Examples of reason include loss of a parent, or loss of employment either by the student or by the breadwinner of the family.

To further demonstrate one’s financial incapacity, statements must include descriptions of the student’s job or of a parent’s employment, about schooling of other siblings, and discussion of any unexpected expenses of the family. All of which will make clear the direct impact of the cost of higher learning on the family’s overall income. Take note not to make false statements because any that has been verified as falsehood is punishable.

U.S. Citizenship or Eligibility as Non-Citizen Residing in the U.S.

A birth certificate showing that the applicant is a natural born U.S. citizen suffices as proof of U.S. citizenship.

On the other, a non-citizen may be documented by the U.S. Citizenship and Immigration Services or USCIS, by way of a “green card” such as a Resident Card, Resident Alien Card or Alien Registration Receipt Card. Other non-citizen types like refugees, asylum seekers or other legally recognized entrants will have either an Arrival-Departure Record (I-94), or a T-Visa, and a certification letter issued to them by the USCIS as proof of approved entry.

Other Basic Requirements

* Valid Social Security Card/Number (not applicable to nationals of Marshall Islands, Micronesia, or Palau).

* High school diploma or a General Educational Development (GED) certificate;

* Male applicants aged 18 to 25 must be registered with Selective Service;

* Has enrolled or already accepted as enrollee for an eligible degree or certificate program and must be enrolled at least half-time as a regular student.

* Has maintained satisfactory academic performance in college or career institute.

* Must be able to certify the portion of the FAFSA stating that he or she (student) is not in default of any federal student loan or has no financial obligation under the federal student grant.

Needless to say, inability to satisfy or complete any of the basic eligibility requirements stalls the processing of an application for financial student aid at the very onset.