Student Loans & Financial Aid info

For nearly all educational funding options, from grants and scholarships to college student loans and work study, your first step is to apply for financial aid via the FAFSA (Free Application for Federal Student Aid). Doing this will determine your financial need and eligibility – in other words, which aid you qualify for, and how much you will need to borrow. No matter what your financial situation (unless you are super rich, that is), there is a good chance a portion of your education will be financed by a college student loan. In fact, according to the National Post secondary Student Aid Study (NPSAS), about two-thirds (65.7%) of seniors graduating from four year degree programs do so with some loan debt, averaging close to $20,000 worth!

Need Based College Student Loans - prove you need it and it could be yours.

Federal Perkins Loan: These are the best loans for college students since interest rates are quite low. However, they also have the most stringent income qualifications.

Federal Stafford College Student Loan (Subsidized): These Stafford College Student loans are ideal since interest rates are low, (they vary each year but cannot exceed 8.25 percent). In addition, interest does not begin to accrue until six months after you leave school (as a graduate or otherwise) since the government basically waives the interest bill on your behalf. You may borrow between $3,500 to $8,500 per year, depending on your grade level.

State Loans: State-sponsored college student loans and their terms vary. Research your home state’s offerings, and if you plan on attending college in another state, you may qualify to apply there as well.

Non Need Based College Student Loans: Extra cash help for anyone who needs or wants it.

Federal Stafford College Student Loan (Unsubsidized): Similar to the subsidized, except interest begins to accrue as soon as the college student loan is disbursed – and Uncle Sam will not help you. However, students can choose to make interest payments during college or defer them until six months after they leave school. The maximum amount that can be borrowed is $3,500 to $20,500 (less any subsidized amounts received for the same period), depending on grade level and dependency status.

PLUS Loan (Parent College Student Loans for Undergraduate Students): Parents can borrow up to the annual total cost of attendance. New rates are set each July but cannot exceed nine percent. Repayment generally begins 60 days after the loan is disbursed.

Find more information about Stafford, PLUS and Perkins loans at the Department of Education’s website.

Private College Student Loans: Organizations and banking institutions offer private college student loans. These are often used to bridge the gap, provide a cushion for living expenses, etc. Rates, repayment plans, and borrowing limits vary, so be sure to do your homework and read all the fine print.

So, whether you are seeking college student loan information for yourself, your child or for your college student, you can find tools and information about grants, college student loans and scholarships very easily on the internet. Use the resources at your fingertips and have fun. The financial aid office of your chosen school is also an excellent source to utilize.

The widening sub prime mortgage crisis has snared another traditionally safe corner of the credit markets: private student loans. Many parents and students lining up college financing this spring will find fewer companies offering loans and, for private student loans, more stringent lending criteria and higher interest rates and fees.

Unlike federal loans, whose interest rates are capped by law, private student loans—offered through banks, credit unions, and other lenders—typically charge variable rates tied to credit scores. Students taking out these loans could see their rates rise by half a percentage point to a full point.

Why are private loans feeling the pinch? Like mortgages, some private student loans are bundled and sold on a secondary market, where they are used to fund new loans. However, skittish buyers are not biting, and some lenders are having a hard time raising enough cash to keep making loans. Unlike with federally backed loans, no one is serving as the backstop for defaults, so investors are worried that these bundles of loans will not turn out to be safe. Meanwhile, lenders are also coping with a new law that limits federal subsidies on government-backed student loans. As a result, some lenders have scaled back on the types of private student loans they offer. Others have taken action that is more dramatic by stopping private student loans all together.

Growth spurt. Private student loans are the fastest growing segment of the student loan finance market. In 2005-06, students took out $17.3 billion in private student loans, compared with only $1.3 billion a decade earlier, according to the College Board.

Aside from raising interest rates, lenders of private student loans are toughening their standards. The nation’s largest private student lender, Sallie Mae, recently announced that it is no longer providing private student loans to students whose credit ratings are below prime. Lenders are likely to require a credit score of at least 650 to secure a private student loan, up from a previous requirement of 620. Students with no credit history will also run into roadblocks. A 20-year-old with no credit and no cosigner is going to find that rates will be quite a bit higher.

But do not lose heart. Were there is a will there is a way. Your education is a very important part of your career for the future. There are many different options that will work for you. First of all, do not forget about the federal student loan programs. Check them out first and get all you are available to receive. Only use a private student loan if you have too.

If you decide you do need to apply for a private student loan. Talk with your parents or grandparents. With their good credit history your troubles will be few. Keep in mind you are working off of someone else’s good credit, so you must be mature about how you handle it.

Your in college so it is time to step up to the plate and act like an adult. Go get em!

Federal loans help students and their families to obtain financial aid to pay for college or a university. This is the largest student financial aid program in the USA. It produces tax benefits. It offers subsidized and unsubsidized Federal Stafford Loans, Federal Plus Loans (for parents) and Federal Consolidation Loans.

Private financial institutions (banks, credit cooperatives and loan and savings companies) lend money to families in co-operation with the federal government, thus offering low interest rates. The cost of such loans is affordable for students and their families, and under certain economic and family circumstances the government may even pay for some of the loan’s interest while the student is still studying (subsidized loan).

The federal government applies an initial charge of 3 %, and the financial institution granting the loan can charge a maximum 1 %. Both charges are automatically deducted from the loan. Students therefore receive the granted sum minus these charges.

A Stafford Federal Loan is a low interest and long term loan (normally lasts for 10 years) with many benefits to the student. Interest may vary but there is a limit to how much it can grow 8.75 %. Interest is reviewed on July 1st every year, and it is guaranteed by the federal government through the education department.

A Stafford Federal Loan is the most popular and widespread loan type among students because the repayment conditions are quite flexible. Sometimes the student can just pay a monthly minimum of USD 50.00, or they can choose a gradual installment increase.

Stafford loans options:

1. Stafford Federal Loan Subsidized
• Government pays for the entire loan interest while the student is still studying.
• Students do not repay interest until six months after they finished or left university.
• You need to prove your economic need to obtain this kind of subsidy. You also need to have applied for a Pell grant beforehand, and you must be either an American citizen or a foreigner with a permanent residence permit.

2. Stafford Federal Loan Non-subsidized

• Students pay for the loan’s interest while they are studying. You can choose whether or not to defer interest repayment while studying.
• If interest repayment is deferred, when you finish university you must repay the whole accumulated interest plus the pending capital, according to the conditions agreed when the loan was granted.

Parents can apply for a Federal Plus Loan covering the entire expense (tuition, administrative fees, books and material, accommodation and meals, transportation) for their son or daughter’s first university study. Any other government financial aid will be discounted from the sum granted. This is a federal government-guaranteed loan and it helps parents to cover their children’s studies with a low interest rate. There is no need to prove a situation of economic need, but the university selected may ask the student to apply for a federal loan in order to accept the student enrolment admission in the university. Parents need a good credit history and it will be checked that they have not unfulfilled repayment of other loans the past.

Interest rates and charges:

• Interest rates are variable but they cannot reach over 9 %. Rates are reviewed on July 1st every year.
• The federal government will apply an initial charge of 3 % and the lender granting the loan may charge up to 1 %.
• Both charges will be automatically deducted from the sum actually transferred to the borrower.

Repayment:

• You start repaying 60 days after the loan has been obtained. Paid interests may qualify for tax benefits.
• Usually people choose a fixed monthly installment, the minimum being USD 50.00.
• Loans can be issued by financial institutions or directly by the government (direct loan program).

Government student loans are guaranteed by the U.S. Department of Education. The government loan program is more commonly know as the FFELP (Federal Family Education Loan Program). Government or federal loans are not credit-based (with the exception of the PLUS loan). For these loans, interest rates are usually lower than private student loans, but they tend to offer modest annual loan limits. Students must fill out the FAFSA to qualify for these loans. Unfortunately, government loans alone may not cover the total cost of education for your school and you may have to find other sources of funding such as a private student loan.

Most private student loans will encourage prospective customers to apply for federal student loan before applying for a private student loan or other alternative student loans. Federal loans are often less expensive and offer the widest variety of repayment options. If you are unable to meet your total cost of education based on these sources alone, you should research potential private student loan lenders and choose the loan that best suits your needs. Remember to borrow only what you need!

FFELP Program Loans:

Subsidized Stafford loans are offered to students with a demonstrated financial need, generally requiring a low family income. The government makes the interest payments while the student is attending college.

Unsubsidized Stafford loans are offered to most students. The government does not pay interest for the student. Instead, the interest accrues and is capitalized into the total loan amount. The student may choose to pay the interest while in college or defer payment until after graduation.

Parent Loans for Undergraduate Students or PLUS loans are always unsubsidized loans. The parent takes out the loan in his or her own name and is responsible for loan repayment. Parents are usually able to borrow much more than the student, but the interest rates are also higher than federal student loans made to the student. There is no grace period on a PLUS loan and payments start immediately.

A Perkins loan is a low-interest loan for undergraduate and graduate students who demonstrate a financial need. The school is actually the lender and will either pay the student directly or credit the student’s account. The loan is made with government funds with a share contributed by the school. Repayment is made directly to the school.

Besides federal loans, there are other types of government student aid available for students. These sources of aid do not have to be repaid. To qualify for these types of aid, students must also fill out the FAFSA.

Federal grants are awarded to students with financial need and do not have to be repaid (unless a student withdraws from school). There are four types of federal student aid grants: the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), the Academic Competitiveness Grant, and the National SMART Grant. After you fill out the FAFSA, your award letter will tell you which grants you qualify for and for how much. See grants.

With federal work-study, students earn money while attending school. Jobs can be on or off campus. There is no annual minimum or maximum award amounts. Work-study programs are typically included in the financial aid package and outlined in the award letter.

Most states also provide financial aid to students in the form of grants. You should check with the financial aid office at the school you plan to attend or visit your state’s department of education website to find out about the different state grants that may be available to you.

Federal student loans in the United States are authorized under Title IV of the Higher Education Act as amended. When it comes to federal student loans, there are a number of programs available. The following information provides background on federal loans Always consider federal student loans first!

These loans supply financial aid for students enrolled at a school that participates in federal aid programs. When referring to a school, this means a two-year or four-year public or private college, university, or trade school. These loans are offered by private organizations under accordance from the U.S. Department of Education through the Federal Family Education Loan Program (FFELP) and the Federal Direct Student Loan Program (FDLP).

Federal student loans generally cover school expenses, including tuition and fees, room and board, books and school supplies, as well as any transportation. Loans can also help pay for technology needs (i.e., a computer) and for necessary dependent care.

There is a variety of federal student loan programs. Check with your school to see which programs they participate in.

Stafford Loans are federal student loans made directly available to college and university students and are used to supplement personal and family resources, scholarships, grants, and work-study. They may be subsidized by the U.S. Government or may be unsubsidized depending on the student’s financial need.

Both subsidized and unsubsidized loans are guaranteed by the U.S. Department of Education either directly or through guarantee agencies. Nearly all students are eligible to receive them (regardless of credit score or other financial issues). Both types offer a grace period of six months, which means that no payments are due until six months after graduation or three months after the borrower becomes a less-than-full-time student without graduating. Both types have a modest annual limit. The limit for the academic year beginning in 2007 is $3,500 per year for freshman undergraduate students, $4,500 for sophomore undergrads, and $5,500 per year for junior and senior undergrads.

Subsidized federal student loans are offered to students with a demonstrated financial need: generally requiring a lower family income. For these loans, the federal government makes interest payments while the student is in college. For example, those who borrow $10,000 during college will owe $10,000 upon graduation.

Unsubsidized federal student loans are also guaranteed by the U.S. Government, but the government does not pay interest for the student, rather the interest accrues during college. Those who borrow $10,000 during college will owe $10,000 plus interest upon graduation. Students can choose to pay the interest while still in college.

Federal student loans for students of medicine have higher limits: $8,500 for subsidized Stafford and $30,000 maximum for unsubsidized Stafford. Many students also take advantage of the unsubsidized Perkins Loan. For graduate students the limit for Perkins is $6,000 per year.

There is nothing better than money you do not have to give back. Last year, there was over $31 billion in unmet financial need. Do not let yourself be one of the students who did not get all the financial aid you could.

PLUS Loans are offered to parents of students enrolled at least part time in a program included within a formal list of participating post-secondary institutions. PLUS Loans are also available for graduate and professional students. PLUS loans differ from Stafford and Perkins Loans (other federal student loans) in that it can cover a larger amount of the cost of education, has a higher interest rate and the commitment is undertaken by the parent, rather than the student.

This Graduate PLUS Loan is similar to the Parent PLUS Loan as it is an unsubsidized federally guaranteed loan up to the cost of education. It is taken out in the graduate student’s name on their own signature and credit rating. It has the same federal loan deferment and forbearance options as the Stafford Loan, so graduate and professional students can postpone repayment of their federal aid while enrolled at least half time in a degree or certificate program.

If a student has a series of loans, through the Stafford, PLUS or Perkins programs, they have the option to consolidate federal aid loans into one single debt. This results in reduced monthly repayments and a longer term for the loan, at a fixed interest rate. The term of the loan can be between 10-30 years. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans. The calculated fixed interest rate is based on the average rate of the loans being consolidated. These rates are weighted, based on the amounts borrowed. Private student loan consolidation is an option for students with private student loans to consolidate.

So, now you know all there is to all of your financial aid options. What is best for you?

To be considered for federal financial student aid, a student must complete a FAFSA unless the only aid he wants to receive is a PLUS loan via his parent. The FAFSA collects financial and other information used to calculate the expected family contribution (EFC) and to determine a student’s eligibility through computer matches with other agencies.

The FAFSA is the only form students must fill out to apply for federal financial student aid. A school cannot require extra information from students except for verification or resolution of conflicting information. However, a school may require additional information for other purposes, such as packaging private or institutional aid. If the school collects additional information that affects federal financial student aid eligibility, it must take the information into account when awarding the federal financial student aid.

Students can fill out a paper FAFSA, or they can apply electronically using FAFSA on the Web or, with their school’s help, FAA Access to CPS Online. Students who applied in the previous year may be able to use the Renewal FAFSA on the Web.

Students can complete an application online at www.fafsa.ed.gov and submit it directly to the Central Processing System (CPS). They can also correct any of their previously submitted data except for the Social Security number (SSN). Help is available online, and students can also call 1-800-4-FED-AID (1-800-433-3243).

The paper FAFSA is no longer available for schools to order in bulk quantities (limited orders of up to 50 copies are permitted); however, students can still request it from the Federal Student Aid Information Center by calling 1-800-4-FED-AID. Moreover, there is now another option: a submittable FAFSA in portable document format (PDF, in color or black and white), which students can get at www.federalstudentaid.ed.gov. They can print the PDF and fill it out by hand, or they can type their data on the PDF before printing.

If the only federal aid a dependent student wants to receive is a PLUS loan through one of there parents, they does not have to complete a FAFSA, but the parent will need to complete a loan application and promissory note. In addition, the student must still meet all the usual eligibility criteria, and the parent must meet the PLUS eligibility requirements. A student must submit a FAFSA, however, to receive a graduate PLUS loan.

The FAFSA is organized as steps, with each step consisting of a group of related questions. In addition, the FAFSA contains instructions and one page of worksheets for calculating amounts that are entered in Steps 2 and 4. As of the date the FAFSA is signed, it is considered a “snapshot” of the family’s information that can be updated only in certain circumstances and only for certain items;

Students can get counsel on filling out the FAFSA on our website for students at www.studentaid.ed.gov. Where parents are mentioned it refers to the parents of dependent students. In parentheses are the numbers for the items as they appear on the paper FAFSA, SAR, ISIR, and FAA Access.

So I encourage you to not let the paper work scare you. It is really very simply if you read and pay attention the what the questions are asking. The answers will be just as simple. Have Fun.

Many college graduates start out with a staggering load of college student loan and credit card debt. Here are some smart strategies for tackling it — and erasing it altogether.

The average college student is now more than $20,000 in debt at graduation. The average salary for a newly earned graduate, meanwhile, is $30,000.

No wonder so many graduates say “the heck with it” and simply take on more debt — buying new cars, carrying credit card balances and paying back as little of their college student loans as they can get away with.

If you are smart, though, you will make a conscious effort to get out of debt now — while you are still young enough to make it count.

Why should you care about debt? Well, for one, every dollar you spend on interest for credit cards and college student loans is a dollar you do not have for other, better uses: saving, investing, spending on something fun.

Moreover, the longer you put off erasing your debts, the more interest you will pay. Make the minimum payments on the average graduate’s $3,262 in credit card debt, for example, and you will end up paying more than twice the original amount by the time you send in the last payment — 18 years later. Is the pizza and beer you charged last month really worth nearly two decades of payments?

Debt can cause you problems later in life, as well:

• The more debt you have when you are ready to buy a home, the smaller the mortgage you are likely to get. That may mean settling for a smaller house in a less desirable neighborhood than you would really like.
• You may not be able to save enough for retirement.
• If you get behind on your payments, you could wind up with a trashed credit rating, which will make your debt even more expensive.

Why should I take care of this now? I just graduated and got that great job. Do I really need to worry about this now? Well, yes. Don’t you deserve to kick back and have a little fun, now that you are finally making some money? Of course. But there will never be a better time for you to make a real dent in your debt. Here’s why:

• You are used to living on the cheap. If you can refrain from upgrading your lifestyle, even for a few years, you can make a big dent in your debt and put your finances well ahead of those of your peers.
• You are flexible. You are probably willing to do stuff, like have a roommate or take the bus, which would make you crazy when you are older.
• You do not have a mortgage to pay. Your income will rise in the future, but so will your expenses — and many of those expenses will be pretty hefty, like your mortgage, braces for the kids or payments on the minivan.
• You will get used to living within your means. Sound boring? It is the key to a successful financial life, but many people never learn it. They live paycheck to paycheck their entire lives and never get ahead.

The sooner you are debt free, the faster you will be on the road to financial success — and the less you will have to worry about living a starving student lifestyle when you are middle aged.

So, now is the right time to take care of those college student loans and credit card debt. You have endured the school years to get yourself on the right path for success. Keep going you are almost there.

So, you have decided to become a doctor. How do you think you are going to pay for it? There are many programs out there to help with financial aid. The below is giving you some guidelines about eligibility and such.

The purposes of such programs are to enable needy medical students to obtain medical school loans and funds to pursue a degree of medical doctor (M.D.) or doctor of osteopathy (D. O.) at the college or university of your choice.

ELIGIBILITY:

To be eligible for loan consideration, an applicant must:

1. Be accepted for enrollment or be enrolled full-time at an approved school of medicine with priority consideration given to residents of the state,
2. Meet designated academic standards,
3. Demonstrate financial need, and
4. Not be in default on any previous student loan(s).

APPLICATION:

Applications must be obtained from the Financial Aid Office of the educational institution to be attended or are currently attending.

SELECTION AND NOTIFICATION:

The institutional Financial Aid Office is responsible for
(1) Determining eligibility for the loan and
(2) Notifying individual students of the action taken. Funding availability may limit the number of awards or the value of individual awards.

RENEWAL:

Students are permitted to seek loan assistance for each year until the course of study is completed. An annual application may be required. The educational institution is under no obligation to approve subsequent student loan requests even though all eligibility requirements are met.

ANNUAL LOAN AMOUNT:

The maximum annual loan amount cannot exceed $10,000.

REPAYMENT:

The first payment will be due one year following the date the borrower ceases to be a full-time student at a school of medicine that participates in this Program with a maximum of 10 years to repay the loan (principal and interest). Students will be eligible for payment deferment during periods of required military service or approved additional medical training, including internships, residencies or fellowships (not to exceed 5 years). The minimum repayment amount shall be no less than $50.00 per month.

INTEREST:

The rate of interest charged on all outstanding loans awarded on or after September 7, 2002 shall be the prevailing Federal Stafford Loan interest rate at the beginning of the repayment period and shall accrue, except for periods of authorized deferment, from the beginning of the repayment period.

LOAN FORGIVENESS:

Loan indebtedness (principal and accumulated interest) will be forgiven at the rate of up to $5,000 for each period of twelve consecutive months of full-time practice in an approved designated medically underserved area in a medical specialty designated as a critical shortage field in the state. Once the student enters practice he/she needs to complete and submit the Postponement of Loan Payment form. At the conclusion of each 12 consecutive months of full-time practice, the Certification of Service for Loan Forgiveness form needs to be completed and submitted to obtain credit for the past year of practice.

These are just general guidelines on eligibility to apply for a student loans in your chosen college or university. The actually guidelines may vary a little, but these are the basics you need to look for.

Remember to always read the fine print and do not be afraid to ask questions. If the answers do not seem right to you do not sign.

Are you already saddled with year after year of tuition hikes, college students and their families are facing a new financial squeeze: Fewer places to borrow money.

Tightening credit and higher costs have driven more than 40 companies from the college student loan business in recent months. Financial aid experts predict more up-front costs for student loan borrowers and expect that thousands of students will have to shop around this spring and summer for a new college student loan provider.

To add to the troubles, a once-common way of getting cash for college — home equity loans — are losing its appeal, thanks to the overall mortgage mess and dropping home values.

Without too much exaggeration, some types of college student loans will be more difficult and more expensive to get. Therefore, the cost of college will probably increase in the process.

In the past two months, four companies have stopped taking college student loan applications because they cannot get adequate funding through capital markets.

On Friday, college student loan giant Sallie Mae told schools that it no longer offers consolidation loans so that they may direct more of there resources to students entering school at a time when college student loan demand will significantly exceed lender supply for the upcoming academic year. Sallie Mae said this in a statement. Sallie Mae will also stop waiving loan origination fees beginning May 2.

Parents need to be aware of the situation unfolding and keep on top of it. When they look for a lender, they need to make a list of several and not just one. This is in part because of fast-rising tuition rates, college student loans are crucial to most students.

According to a resent study, 72 percent of students who graduated in 2006 from schools had to borrow to finance their education. They graduated with an average of $23,375 in debt.

Some college and universities have been spared the turmoil because these schools are part of the direct student loan program that leaves banks and loan companies out of the process. But other universities work with third-party lenders to secure federal student loans. These are the colleges and universities that are going to be affected.

There may be fewer lenders, but do not panic yet. I still think there are plenty of college student loans out there. I do not think it is necessary for families to be worried.

It certainly is not the end of the world. But college student loans are complex enough without adding another step. This being said, college student loans might come with fewer benefits. Currently, many banks eliminate origination fees for federal loans or provide interest-rate reductions or rebates for graduates who make timely payments. If those days are not over, they are certainly numbered.

It will also be more difficult for parents and students with poor credit to qualify for federally sponsored PLUS parent student loans and private or alternative student loans.

Taking all the above into consideration, you do need to do your homework and check out all your options. The internet is an excellent way to grow your knowledge in this area. You will be glad you did the research.

Commercial financial aid program advice services can cost well over $1,000. You might have heard or seen these claims at seminars, over the phone from telemarketers, or online:

• “Buy now or miss this opportunity.” Do not give in to pressure tactics. Remember, the “opportunity” is a chance to pay for information you could find yourself for free. I have provided a list of free sources below.
• “We guarantee you will get aid.” A company could claim it fulfilled its promise if you were offered student loans or a $200 scholarship. Is that worth a fee of $1,000 or more?
• “I have got aid for you; give me your credit card or bank account number.” Never give out a credit card or bank account number unless you know the organization you are giving it to is legitimate. You could be putting yourself at risk of identity theft. You can get very handy tips on the internet to safeguard your identity.
• “Millions of dollars in aid go unclaimed every year; don’t you want some of that money?” The “millions” usually represent an estimated national total of employee benefits or member benefits—available only to the employees or members (and their families) of the companies, unions or other organizations offering the funds. You do not need to pay someone to help you find out whether your parent’s company or association offers any financial aid programs!

Still Curious About Financial Aid Advice Services?

Each year, the U.S. Department of Education receives numerous complaints from students and parents who did not receive the information they expected from a private advice service. The Department does not evaluate these services. Before you decide to use a financial aid program advice service, you should check its reputation by contacting the Better Business Bureau, a school guidance counselor, or a state attorney general’s office. Additionally, investigate the organization yourself before making a commitment:

• Ask for names of three or four local families who have used its services recently.
• Ask how many students have used the service and how many of them received scholarships or grants as a result.
• Find out about the service’s refund policy.
• Get everything in writing.
• Read all the fine print before signing anything.

Instead, Try These Free Sources of Information:

• The U.S. Department of Education’s Web site
• The Federal Student Aid Information Center
• Other federal agencies
• Your state education agency
• A college or career school financial aid program office
• A high school or TRIO counselor
• Your school or public library’s reference section
• FREE online scholarship searches
• Foundations, religious or community organizations, local businesses, or civic groups
• Organizations (including professional associations) related to your field of interest
• Ethnicity-based organizations
• Your employer or your parents’ employers

Don’t Pay for the FAFSA

Several Web sites offer help filing the Free Application for Federal Student Aid (FAFSA) for a fee. These sites are not affiliated with or endorsed by the U.S. Department of Education. We urge you not to pay these sites for assistance that is provided free elsewhere. The official FAFSA is at www.fafsa.ed.gov and you can get free help from

• The financial aid program administrator at your college;
• The FAFSAs online help at www.fafsa.ed.gov; and
• The Federal Student Aid Information Center.

If you are asked for your credit card information while filling out the FAFSA online, you are not at the official government site. Remember, the FAFSA site address has .gov in it!