Securing Financial Aid for College Isn’t Easy, But It Isn’t Impossible to Understand, Either.
Many people look at the financial aid process and make one of two unfortunate assumptions. The first assumption is that this process is a piece of cake. And the second assumption is that the financial aid process is beyond your understanding. Don’t make either of these assumptions if you want to secure the most financial aid available to you.
Things to Remember About the College Financial Aid Process
- The Free Application for Federal Student Aid (FAFSA) Takes Effort To Complete
- A Large Percentage of FAFSA Forms Are Filed Incorrectly
- It Is Absolutely Okay to Seek Help
The Free Application for Federal Student Aid (FAFSA) Takes Effort To Complete
In February of 2008, two Harvard economists produced the results of their study of the financial aid system. As part of their findings, they discovered that completing the FAFSA form takes, on average, ten times longer than what the colleges and the Department of Education estimate it should take. We interpret this to mean that the form is confusing, there is a lot of information to gather in order to complete it and people are having difficulty completing the form without help.
A Large Percentage of FAFSA Forms Are Filed Incorrectly
The Department of Education reports that 30% of submitted FAFSA forms contain error(s) that result in the application being rejected or suspended. Scott and his colleagues at the National Association of College Funding Advisors (NACFA) determine that approximately 60% of the FAFSAs are filed with incorrect information. Regardless of which number is correct, this is a huge percentage of forms that are being rejected or delayed that can potentially cost you a significant amount of financial aid.
It Is Absolutely Okay to Seek Help
The good news is that it is absolutely fine to seek outside help securing financial aid for college. Scott has built his business helping people find money for college, whether they needed assistance with the process or chose to have someone else do it for them. The fact you’re on eduLaunchpad.com means that you are probably someone who tries to do-it-yourself; that is fine. Just don’t make the assumption that the process is easy and, if you find you do need some help, feel free to reach out to us with your questions. We’ll do our best to get the answers you need.