Not too Late to Apply for Federal Financial Aid

January is almost passed and 2009 is well underway, but it isn’t too late for students to apply for federal financial aid through the FAFSA (Free Application for Federal Student Aid)

Without contest, the federal government is the largest provider of free money for college costs and tuition, and the FAFSA is your way of trying to get a share of that cash.

If you haven’t applied yet and you’re wonder why, you should read this post I made earlier in the month about the FAFSA application process and why you need to get started immediately!

When is it Due?

Ok, technically it isn’t due until June 30, 2009.  That doesn’t give you an excuse to wait a few more months – or even weeks.  The government will start issuing money to the colleges long before that deadline, and chances are the schools are going to have spent all the money or promised it out to students before then.

Check with your college to see how they handle FAFSA and federal financial aid, but you can be pretty certain that regardless of the school you attend, all that money will be allocated before June 30 comes along.

Its Free, Its Easy, Its Online

It shouldn’t cost you anything to file a FAFSA profile online, just go to the official government website available at:  http://www.fafsa.ed.gov/

All you really need is your tax and income information – oh, and that of your parents if you’re under 24.  Make sure to read through the eligibility rules carefully, and if you have no strikes against you continue to apply for a PIN and fill out the required questionnaires.  If you meet all of the individual and financial eligibility requirements and the profile is filed with the government education administration and the school you’re attending early enough, you’ll get money.

Depending on the level of financial need demonstrated, this free money for school could come in the form of a grant that doesn’t have to be paid back at all, or a subsidized student loan with a generous repayment plan and virtually no interest compared to private, commercial student loans.