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Reviewing The Steps Involved When Applying For Financial Aid

May 25, 2008
In order for you to receive financial aid for school you first have to apply and then learn how to manage your money to make every dollar stretch as far as
it possibly can. For financial aid to work it is going to require some paperwork on your part. Relax, it is not that difficult and you will see that the steps you must take are not that tedious or time consuming. If you have all your information together, then it is easy.

Step one for applying for financial aid is to have your previous year's income taxes filed. This information will be used to determine how much money you will be eligible to receive. If you are considered a dependant, then your information along with your parent's income will be the determining factor. You will also need to have your social security number, address and contact information to fill out the necessary paperwork.

Step two is filling out the FAFSA, otherwise known as the Free Application for Federal Student Aid paperwork that will determine how much money you receive. This is the paperwork that requires all of the above information.

Once the FAFSA is filed, you will receive a Student Aid Report, or SAR, that will list how much, if any, federal government grant money that you will receive. This grant money is often a Pell Grant and it does not have to be repaid as a student loan would be. You may still need to take out student loans to cover the remainder of your expenses.

Step three is enrolling in a minimum of twelve hours of school weekly and keeping a 2.0 grade point average. At this point you may have extra monies left available to you. Use that money wisely.

If you do not blow it on unnecessary items, then it can help you make it through the semester without having to work so much at a regular or part time job. Far too many kids blow their excess money on partying and wind up having to quit half-way through the semester because bills are not being paid.

The steps can seem confusing at first but in reality it is nothing more than plugging the information into the correct spot on the electronic form. You do not even have to mail anything in anymore. The use of electronic data helps to speed up the process immensely and you will see faster results.

Next year, when you apply for financial aid grants again you will know the process and things will be even easier. If you do run into any problems or have any questions, then you can always turn to your college's financial aid office to help you out. That's the reason why they are there.
About the Author
Mike Selvon's government grants portal has some more useful information on applying for financial aid. Visit his web site and leave a comment at his cash grants blog.
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