Financial Aid 101

What is FAFSA?

FAFSA stands for Free Application for Federal Student Aid. It is your ticket to paying for school through grants, scholarships, work study positions, and federal student loans.

Why should I complete the FAFSA?

The FAFSA is required to qualify for scholarships, grants, need based work study positions and other aid. Colleges, universities, trade schools and many scholarship organizations use the information from the FAFSA to calculate how much financial aid you are eligible to receive. Many private scholarships require it.

When should I complete the FAFSA?

The FAFSA opens each year on October 1st. Apply ASAP as some grants, work study positions, and other financial aid are awarded on a first-come, first-served basis. The deadline is June 30, 2020 for students who plan to attend college any time between July 1, 2020- June 30, 2021.

I think my parents make too much money for me to qualify for any aid. Should I still complete the FAFSA?

YES! There is no income cut-off to qualify for federal student aid. Many factors such as the size of your family, the cost of college you plan to attend, and your year in school are taken into account. The only way to know what you might qualify for is to submit the FAFSA.

All New Mexico Seniors who complete the FAFSA can enter to win prizes, just for completing it! Prizes include 2-in-1 laptop/tablets, $500 scholarships, $100 gift cards and more!

CLICK HERE TO ENTER TO WIN PRIZES FOR COMPLETING THE FAFSA

Scholarships, Grants, Work Study

How do I apply for Grants?

By completing the FAFSA, you are automatically applying for federal student aid and federal grants like the Pell Grant. The FAFSA is used by your future school to determine eligibility based on financial need. Contact your university's financial aid office for other grant qualifications and specifics.

Student Loans

(YOUR LAST RESORT TO PAY FOR SCHOOL)