Posts Tagged Free Application For Federal Student Aid
Retirement Contributions Misunderstood in Financial Aid
Twice in this past week, I saw comments on one of the large online college prep forums about people making IRA contributions so they could lower their income as reported on the FAFSA form. There’s a really big problem with this… it doesn’t work. The FAFSA (free application for federal student aid) doesn’t work that way.
This is symptomatic of one the bigger problems with the FAFSA, and that is people equate tax regulations with financial aid regulations. In reality, they have very little in common.
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Online Colleges Is Financial Aid Available?
One of the frequently asked questions about attaining an education is whether or not financial aid is available. This is a very legitimate question to ask in regards to online colleges.
Typically, online colleges participate in many of the same grant and loan programs as traditional colleges and universities. Financial aid programs, such as the Federal Pell Grant is designed to help students with tuition cost. Another program, known as the Federal Supplemental Education Opportunity Grant, commonly referred to as “FSEOG,” is a grant program that is awarded and based on extreme financial need. This particular grant is often facilitated by students who are seeking a conventional or online degree.
Colleges online will frequently take part in loan programs like the Federal Stafford Student Loan, and additional loan programs as well. Just like any traditional schools, online colleges will provide information to students about filling out the FAFSA (Free Application for Federal Student Aid) online, and encourage prospective students to do so.
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