FAFSA

Free Application for Federal Student Aid (FAFSA)

Why should you fill out the FAFSA?

1. Depending on your finances, you could receive a federal Pell Grant of up to $7,395 for each year of college.

2. Depending on your finances, you could receive state grants to help fund college. These are first come, first serve in North Carolina, though!

3. Colleges and universities use the FAFSA to decide how much financial aid they’ll give you; even if you don’t qualify for state or federal aid, it’s highly possible you’d qualify for financial aid from the school you’re trying to attend!

4. Some schools require the FAFSA even for merit-based scholarships

5. Even if you don’t qualify for grants or financial aid, you’re required to complete the FAFSA in order to take out Direct Unsubsidized loans, Grad PLUS loans, and Parent PLUS loans. The current interest rate for Direct Unsubsidized loans is 5.05%, and you have a six-month grace period after you stop enrollment in college before you have to start paying back the loan (i.e. if you start and stay in school for four years, and then graduate around May of 2025, you won’t have to start paying back the loan until around November of 2025). If you take out a private student loan from a bank, interest rates are higher, typically around 6-10%.

It’s not guaranteed you’ll get money if you fill out the FAFSA, but it’s guaranteed you won’t get financial aid if you don’t. Take some time and possibly save thousands of dollars!

The FAFSA opens on December 1, and it is first-come-first-served. This means that you should fill it out as soon as possible in order to get the maximum amount of financial aid! Feel free to email or schedule an appointment with Ms. Chandler for help filling out your FAFSA. Don't put it off!

This video walks you in detail through the entire FAFSA, including the information you need before you begin. It shows you every line on the FAFSA, and while it's long, it can help with some questions you might have! Remember, you cannot fill out your FAFSA until December 1.

In order to complete the FAFSA, you must first create an FSA ID. Your parent/guardian will have to create their own FSA ID as well. Pro tip: create your FSA ID as soon as possible, so you're ready to fill out the FAFSA right when it opens on December 1! The sooner you fill out the FAFSA, the more money you are likely to get for college!

Here's written instructions on how to create an FSA ID

Here's a video on creating an FSA ID: