Importance of Completing FAFSA by March 2nd

Importance of Completing FAFSA Before March 2nd
Published on Friday, February 18th, 2011 by Caroline Category: College Scholarships And Grants

Why Do I Have to Complete it By March 2?It is importance to submit your FAFSA by March 2nd for two reasons: to qualify for a Cal Grant and to get first dibs on financial aid, grants, and work study opportunities. Just think of it this way–the earlier you turn in your FAFSA, the more money you will have a chance of getting. In other words, if you snooze, you lose. This is because FAFSA is given out on a first come first serve basis. Students who wait until after March 2nd to file their FAFSA may receive less aid than they would have if they filed it before March 2nd because they miss out on the opportunity to receive Cal Grants and students who filed by March 2nd get priority.

Scholarships & Financial Aid

Be aware that scholarships do affect your ability to qualify for financial aid. The Finacial Aid office uses a formula to determine your need. If the income surpasses your yearly costs to attend, it is determined that you do not need financial aid.

This should not be a reason to stop applying for scholarships because you stand to make more money in scholarships than with financial aid. Although your finacial aid may be sufficient to cover your academic expenses while attending a community college, you will definitely need a considerable amount more when attending a four-year college.

Each Financial Aid office functions a bit differently so you need to become familiar with the process at the college you will be attending. Since most scholarships are sent to the college with your name and the name of the college, the Financial Aid office is fully aware of all of your awards.

If you want to earn a college degree without going into great debt,scholarships are the answer, but you can't have both financial aid and scholarships if dollars earned through scholarships and grants far exceed the cost of attending the college annually. Financial aid is for UNMET NEEDS.

You need to think beyond the cost to attend a community college. Start preparing for paying tuition and fees at a four-year college/university. Do you want or can you afford to have $200,000 (the average student incurs a debt of at least $20,000) in student loans when you finish college?

By the way, even if you don't qualify for financial aid, you must apply because most orgnizations offering scholarships require proof that you have applied for FAFSA.

Now, be proactive and start the scholarship application process. The ideal time to start looking for scholarships is in the junior year of high school. Are you on track??

Life's Instructions

1. Compliment three people every day.
2. Have a dog.
3. Watch a sunrise at least once a year.
4. Remember other people's birthdays.
5. Overtip breakfast waitresses.
6. Have a firm handsake
7. Look people in the eye.
8. Say "thank you" a lot.
9. Say "please" a lot.
10. Learn to play a musical instrument

Taken from Life's Little Instruction Book by H. Jackson Brown Jr.

Start a Routine

Get in the habit of doing scholarship searches at least two hours a week. Although I bring upcoming scholarships to class, you need to be proactive. Remember, it is a numbers games. The more you apply, the better your chances of being a winner.

Scholarships and Taxes

"Scholarships and grants are not part of income for taxation or subject to social security when spent on tuition or fees, books, supplies, or equipment required for courses. A tax liability situation may arise from scholarship funds that are used to pay for room and board, or exceed the amount spent for tuition, fees etc."

Taken from an article written by Jerald R. Gober for the New Accountant.

Barbara Wade Salm Scholarship

Should you be considering applying for the Nat'l Organization of Women's Scholarship (Barbara Wade Salm) be sure to come in for some help. You have about a week so don't wait until the last minute if you want my assistance. Remember, guys can also apply for this.

Good Source for Textbooks

Discovered a site that might be helpful when you transfer to a four year college.

Check out www.swoopthat.com