RESTON, Va., Dec. 18 /PRNewswire/ -- When it comes to getting financial
aid for college, timing is key.
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More than 13 million students apply for money for college annually; at
the same time, nearly 2 million of them miss out on free money, simply
because they do not complete the Free Application for Federal Student Aid
(FAFSA). Financial aid is awarded based on financial aid and merit. There
are no income or asset limits to qualify for financial aid so every student
should apply regardless of their family's financial situation.
"Don't pay more for college than you have to," says Martha Holler,
spokesperson for Sallie Mae, the nation's leading provider of saving- and
paying-for-college programs. "Roughly eight out of 10 full-time
undergraduates receive some sort of financial aid to help pay for college.
Make your New Year's resolution to apply for financial aid early and get
help to cover the cost of your child's higher education," she adds.
If a high school graduate has a Social Security Number, he or she is
entitled to free or inexpensive money, including scholarships, grants and
low-interest student loans. Students can find the FAFSA form online at
http://www.fafsa.ed.gov or in their high school guidance counselor's
office.
Once the FAFSA has been completed, it can be submitted anytime after
Jan. 1 for the year in which a student is applying for aid. Students and
parents who file online can now request that their financial aid
applications be sent to up to 10 schools.
Sallie Mae's award-winning College Answer Web site at
http://www.CollegeAnswer.com has detailed information on the FAFSA, as well
as access to an array of planning- and paying-for-college tools and
resources. Among the offerings: a checklist to help families gather
documents needed to complete the FAFSA and a free scholarship search that
provides access to an award database containing more than 2.8 million
scholarships worth in excess of $16 billion.
"The new year is an excellent opportunity for students who are college
bound to get their higher education goals in order. Completing the FAFSA is
the first step," says Holler. "Time really is money -- the time it takes
for you to sit down and fill out a FAFSA could translate into hundreds or
even thousands of dollars that help you pay for college."
SOURCE Sallie Mae
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