Open Search
Open Navigation

The Importance of FAFSA

Alliant International University
Published 01/07/2015
2 minutes read
The content of this page is only for informational purposes and is not intended, expressly or by implication, as a guarantee of employment or salary, which vary based on many factors including but not limited to education, credentials, and experience. Alliant International University explicitly makes no representations or guarantees about the accuracy of the information provided by any prospective employer or any other website. Salary information available on the internet may not reflect the typical experience of Alliant graduates. Alliant does not guarantee that any graduate will be placed with a particular employer or in any specific employment position.

According to The Institute for College Access & Success, the average college student graduates with $30,000 in debt. There are many factors producing this figure--from economic situations to uninformed spending. Applying for FAFSA (Free Application for Federal Student Aid) benefits is a great way to prevent this monetary weight. The FAFSA is a form that current and prospective students complete to seek financial aid. Unfortunately, the scope of the FAFSA deters some students from applying. Other students believe that their parents make too much money to be eligible; this is a common misconception.

So who is eligible? Click the graphic below to see a comprehensive list of requirements.

 

Universities that award financial aid usually won't consider candidates who don't have a FAFSA on file. For many students, submitting a FAFSA as soon as possible each year is an important step to securing a debt-free adult life. Many schools award financial aid on a first come first served basis, so waiting to submit isn't recommended.

Filling out the form correctly is also important. The latest statistics gathered by SMART College Funding show that 80% of FAFSAs contain at least one error. The most common error students make is assessing which assets are accountable. This makes a big difference in the amount of money a student can receive. For example, money in a retirement account won't count towards the amount of aid received but money in a checking account will. Knowing these differences when applying can maximize the amount of aid a student receives.

The FAFSA has been and will continue to be an important resource for students looking to reduce their financial burden. For more information on deadlines and to apply, visit the FAFSA website.

You might also like

Back to Blog
Learn More
team brainstorming around table

Diversity vs Inclusion in the Workplace: What’s the Difference?

Many companies boast about their workplace diversity. But just because a workforce is diverse, doesn’t mean that the workplace...
Learn More
group of students looking at monitor

When to Apply to College

When Are You Supposed to Apply to College? College brings an incredible range of life experiences. Classrooms and lecture halls...
Learn More
School Counselor and Student look at tablet

7 Tips on How to Choose a Major

Did you know that over 60%1 of college graduates would go back and change their majors if they could? Changing majors can be very...
Anchor
pass led us here

Start on your path to impact today.