To get
the best fiancial aid package, your FAFSA must be received
by the federal processor by the PRIORITY DATE. Every college
has a different priority date. If you are applying to multiple
colleges, make sure to get the FAFSA in by the earliest priority
date. You can find out priority dates by asking your Educational
Talent Search counselor.
To be
safe, mail the FAFSA two weeks before the priority date. If
you are late submitting the FAFSA, you will miss out on thousands
of grant and work study dollars. You can still apply for financial
aid after the priority date, but your package will include
more student loans, as well as unsubsidized Parent loans.
Let's
look at an example of two financial aid packages from Eastern
Washington University. The Financial Need for both students
is determined to be $11,504:
| Cost
of Attendance (EWU)* |
$12,504 |
$12,504 |
|
| Expected
Family Contribution |
-$1,000 |
-$1,000 |
| Financial
Need |
$11,504 |
$11,504 |
*Cost
of attendance includes tuition, fees, housing, books, transportation,
and miscellaneous expenses.
| Financial
Aid Award |
Early
Applicant |
Late
Applicant |
| Federal
Pell Grant |
$2,800 |
$2,800 |
| State
Need Grant |
$2,730 |
$0 |
| Federal
SEO Grant |
$300 |
$0 |
| EWU
Grant |
$500 |
$0 |
| Work
Study |
$3,000 |
$0 |
| Federal
Subsidized Stafford Loan |
$2,174 |
$2,625 |
| |
$11,504 |
$5,425 |
| Federal
Parent (PLUS) Loan |
$0 |
$6,079 |
| |
$11,504 |
$11,504 |
As you
can see, it pays to be early!
The fastest way to file the FAFSA is online at www.fafsa.ed.gov
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