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Your Questions About Fafsa

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Sandy Your Questions About Fafsa

Sandy asks…

What is the difference between Ford loans and FAFSA?

I know they are both federal loans but what makes them different? I have already applied and recieved acceptance for my fafsa but will I get more money if I apply for a Ford Loan?
Also will the ford loan be more expensive than FAFSA?

lizzyrose cropped Your Questions About Fafsa

Our pick of the answers:

The FAFSA is merely a FORM from which the Department of Education assesses your eligibility for Federal Financial Aid. Yes, all FEDERAL and most STATE aid in the form of either grants or loans come from that form!

REPEAT: The FAFSA is a form that your FA Office will send to the DOE to see whether or not you are eligible for any grants or loans. Grants are NEED-BASED and never have to be paid back. Any LOANS you have to take out will go into repayment mode 6 months after you leave school or drop below 1/2 time.

Nancy Your Questions About Fafsa

Nancy asks…

How can the FAFSA form for the 2010-2011 school year have a priority deadline of February 1st?

Some parents don’t even get their W2 forms until after February 1st, so they don’t know what their gross income is, let alone their adjusted gross income. If somebody that is filling out the FAFSA 2010-2011 school year form or somebody else who knows can help me clear this up, that would be great. Thank you.

lizzyrose cropped Your Questions About Fafsa

Our pick of the answers:

When filling it out choose “WILL FILE” then enter the information from 2008, if it’s about the same. Later you can update it with “HAS FILED” and the correct information. icon smile Your Questions About Fafsa

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