“I didn’t realize FAFSA had a deadline.”

“I had just assumed you could get a student loan from the government at anytime, but I found out that’s not the case. I learned that the hard way, mainly because I had gone through my first three years in college without needing a loan. So I didn’t think I was going to need one for my last year, either. I also knew that with my family’s income, I wouldn’t qualify for a Pell Grant. For all those reasons, I didn’t bother to fill out the FAFSA for my senior year in college. But then, some major changes happened in my life, and I realized I would need a loan to pay my final year’s bill. That’s when I decided I should  fill out the FAFSA, but my college said it was too late for this year. Now I either have to get a more expensive loan from a lending company, or not go to school for a year until I can apply for FAFSA again.”

College Money Matters Responds

While you can always fill out a FAFSA, many states and colleges have their own deadlines for when they will stop receiving and processing FAFSA information for a given school year.  That can be a very tough thing to find out when you really need a loan. So, whether you think you’ll need a loan or not, we suggest you check out your state and college deadlines early in the school year to find out when the deadline falls. And fill out the FAFSA form every year so that you can get the benefits.  Keep in mind that the family income requirements for Pell Grants change from time to time, so even if you didn’t qualify one year, you could qualify the next.  

Visit this page to learn ten good reasons everyone should fill out the FAFSA.