What is the FASFA?
FAFSA stands for Free Application for Federal Student Aid, and its the form that determines how much tuition your family will be expected to pay, as well as they types of federal aid you are eligible to receive. Financial Aid can consist of grants, scholarships, work-study funds, and loans.
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The most popular sources of funding are scholarships since they don't have to be paid back. Applying for scholarships can be time consuming but if you put in the effort, you can reap the awards. Remember to apply early and often, many students miss out on valuable scholarships just because they didn't know about them. Look at your naviance account weekly for updated scholarships.
Types of loans
Perkins Loan: These need-based awards are in high demaind due to their low interest rates and ten-year repayment options.
Stafford Loans: These more commonly awarded loans are avaiable to all students regardless of need and can be either subsidized or unsubsidized.