"The only borrower of a Parent Plus loan is a parent," Schwartz says. "The student has no legal responsibility to pay back this loan. With private student loans, the student is the borrower and the parent is a co-signer, so both share legal responsibility for paying back the loan." Pr...
What Is a FAFSA? Filling out the Free Application for Federal Student Aid (FAFSA) is the first step to receiving financial aid to pay for college. The FAFSA form helps people afford the cost of attendance (COA) for college or career school. Receiving this financial aid and student loans de...
Due to varying family situations, this is the FAFSA definition of a "parent" for the purposes of filling out this form: "Parent" refers to a biological or adoptive parent or a person determined by the state to be a parent (for example, if the parent is listed on the birth certificate)...
The Free Application for Federal Student Aid, or FAFSA, is a form that college and grad students fill out annually as part of the financial aid process. Why important More than $120 billion in federal aid is awarded each year. Many states and schools also use your FAFSA information in awar...
The FAFSA is also your ticket to federal grants, a.k.a. government money that you don’t have to pay back. Think of it this way: If financial aid is a nightclub you want to get into, then the FAFSA is the bouncer. But what if I don’t need financial aid?
SAI is the number calculated, with information from the FAFSA, to determine a student's eligibility for college financial aid.
How is FAFSA eligibility calculated? According to the Department of Education, to be eligible for federal financial aid, students must: Show a financial need for need-based federal student aid programs Be a U.S. citizen or an eligible noncitizen ...
What do I need to complete the FAFSA? To complete yourFAFSA form, you need to provide the government with your basic financial information and citizenship status. If you are a dependent student, you will also need your parent or guardian's financial information and Social Security number. Be ...
PLUS loans require that the parent applicant pass a credit check (or obtain a co-signer or endorser) and reapply for funds each academic year. The parent is also legally responsible for repaying the loan. In addition to the parents of undergraduate students, PLUS loans are available to gradua...
Higher education is a major financial undertaking, and financial aid is necessary for most students. The Free Application for Federal Student Aid (FAFSA) is the first step to creating a plan to pay for your or your child's education. The award letter lets students and parents know how much ...