The U.S. Department of Education reported a 9.2% decline in FAFSA submissions by high school seniors for the 2021-22 school year. In some of the most impoverished states, that decline seemed to be even greater. Why would fewer students be applying for federal aid in low-income areas? The fact of the matter is that a lot of free money for college is being left on the table.
This makes it even more important to fill out the FAFSA, even if you don’t think you would qualify for financial aid. If you don’t qualify for a grant, you may be able to get low-interest federal loans. These loans are often much more flexible than private loans when it comes to paying them back. This can be essential when something like a pandemic puts unprecedented pressure on the workplace.
If you want to apply for student aid but are worried about the process, there are many resources to help you. At the very least, you can attend one of our free webinars, such as our “Parents Guide to Financial Aid.”
Don’t forget that the FAFSA is time-sensitive and not just on the federal level. Your state or even university may have a significantly earlier deadline for applying.
Get the Support You Need When Planning for College
College Planning Source is here to help. Just give us a call at 858.676.0700 to learn more. You can also request a free college planning assessment online if you are a student from the Class of 2023, 2024, or 2025.
