Understanding FAFSA

Understanding FAFSA

5 minute read

What is the FAFSA?

FAFSA is the key to unlocking college aid, including federal direct loans and Pell Grants, the largest source of federal funds for college. Unlike a student loan, grant money doesn’t need to be paid back. This free money is awarded to undergraduates based on a combination of financial need, college costs, and enrollment status.

Why Should You Apply

There is no income cutoff to apply. It is free money if you qualify. A lot of people don’t apply, don’t finish their application, or make mistakes on

Money Left on the Table

In the 2014/2015 school year, for just the state of Florida:

  • 50% of high school graduates did not finish their FAFSA application
  • 80,177 graduates didn’t complete the FAFSA
  • 47,657 Pell Grant-Eligible graduates didn’t complete the FAFSA
  • $167,227,799 in Total Pell Grant Money left on the table
CollegePrep Tip:

It is free money if you qualify. Apply and see if you can claim some free money.

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