FAFSA Applications Are Now Open
Federal student aid is often first-come, first-served.
Applications for the Free Application for Federal Student Aid (FAFSA) are open for the 2021-22 academic year. Applying for the FAFSA allows you to qualify for grants, scholarships, and other federally sourced aid, such as work-study or student loans.
The applications opened on October 1, 2020, and will be accepted until the deadline, June 30, 2022.[1]
Why does this matter? An earlier application has a better chance of receiving part of the $122 billion the government offers in aid to over 10 million American students. Much of this aid goes to those with the earliest applications, so it’s smart to start now.[1,2]
With many students competing for free aid and options for work limited by the COVID-19 pandemic, it’s likely that families of every economic background will look to take advantage of this opportunity.
First-time applicants can begin the process by creating a Federal Student Aid ID (FSA ID) at https://fsaid.ed.gov/npas/index.htm.
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Citations
1. Nerdwallet.com, September 29, 2020
2. Money.com, October 1, 2020
Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor serving the greater Sacramento area with an office in Roseville, CA. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country's leading professional association of fee-only financial advisors.