Completing your FAFSA, why it’s not too early or too late

It’s about that time that college seniors don their caps and gowns to cross the stage to their next adventure.
But for the rest of the students, now is the time to financially plan the year ahead.

At Minot State University, a little more than half of the overall student population completes a FAFSA, Free Application for Federal Student Aid.

If students didn’t submit their FAFSA for the 2017-18 school year, it’s due by June 30. So there’s still time, and nothing to lose.

Assistant Financial Aid Director at MSU, Lindsey Benson said, “Unless you fill it out, you don’t know what you’re eligible for. Families may only be eligible for a loan, and so that’s then their option, you don’t have to take the loan. But they don’t know what they’re eligible for unless they fill it out.”

Statewide, only 48% of high school seniors apply for their first year, which is low compared to states like Tennessee or Louisiana with 80 and 70%.

Students can still apply for financial aid for both the current, 2017-18 school year as well as the upcoming year.

Some may apply late to determine if they need assistance for summer classes, and some may apply early to be sure about what exactly they’re eligible for.

MSU students said completing the application is well worth it.

“Obviously, everything helps, especially as a student because all of your money is going towards the school part of it and it’s tied up for four years so, every bit of it helps, of course,” first-year student, Sam Larson said.

“I’ve got two sons, a husband and a mortgage payment,” student Priscilla Lawson, said. “So financial aid definitely helps out with achieving my goal in school so I can be able to provide for my family and it just kind of helps give us that assistance so I can do this, it is possible.”

MSU is one of many colleges that has some grants and loans that are given to eligible students on a first come, first serve basis.

So applying early could be in the best interest of a lot of students – especially because a new application is required for each school year.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Don't Miss