What is FAFSA

FAFSA is essential if an individual is willing to avail of federal grants or scholarships to study in USA. The FAFSA application not only provides federal aid like scholarships, grants, work-study, and student loans but also provides eligibility criteria of state-funded scholarships in US universities for international students. The majority of aid through FAFSA is offered on a first come first serve basis. Let's read further and understand more about what is FAFSA, its eligibility criteria and other benefits.

What is FAFSA

In order to receive federal student aid, it is mandatory for all undergraduate and graduate students to submit a FAFSA form. Around 150 million USD is kept every year to be distributed as financial assistance by the US Department of Education. The amount can be adjusted with the student’s tuition fee and also helps in paying rental charges, books expenses, and more.

Aid Name	Type
Grants	Federal pell grant, federal supplemental educational opportunity grant, Iraq and Afghanistan Service Grant, Teacher Education Assistance for College and Higher Education grant
Loan	Federal Perkins loan, subsidised loans, direct plus loan, unsubsidized loan
Work-Study	Full-time and part-time jobs
Scholarships	Merit-based or need-based scholarships

FAFSA also acts as a perfect future investment for students as compared to private student loans. The interest rates are quite low for loans offered through FAFSA with flexible repayment plans. The scholarships awarded through FAFSA depend on the program and the university you have applied to. The Deadline to submit is June 30, 2023 for the upcoming session, applications that require corrections can be submitted by September 10, 2023.

FAFSA Eligibility Criteria

Below are the basic eligibility requirements for a FAFSA application.

Demonstrated need for financial aid to study in USA.
Available US citizenship
A valid Social Security Number
Enrollment proof or letter of acceptance from the university
Must maintain satisfactory academic performance
Candidate must be eligible for loan
Evidence that shows no previous defaults in loans. No liability of money against the federal grant.
Submission of FAFSA from an international student, then the admission letter will be released after its submission.

How To Apply for FAFSA

International students may apply for FAFSA form by following the below instructions:

Try to apply for admission earlier and start saving for college tuition fees in advance. Those who need scholarship assistance may contact the FAFSA counselor and the university's financial aid office. Before applying for FAFSA, understand well about the various FAFSA Grants available.
Many of the well known universities in the USA such as Rice University, Stanford University and Princeton University offer scholarships through FAFSA. Below are the steps that one must follow before applying for FAFSA.
- Use official website of FAFSA or the mobile application for applying
- Do proper research about the types of work study options available for international students.
- Learn more about the loans available
- Submit the FAFSA form and get the student aid report. Thoroughly review the information you have provided by logging into the FAFSA online portal.

Beware are types of student aid report collection

Category	With email	Without email
SAR received	Email linked with SAR	Paper SAR
Taken to SAR arrivals	Signature page used: two weeks	Signature page used: two weeks

Benefits of FAFSA

There are endless benefits of receiving grants, scholarships and awards through FAFSA.

There is no age limit to apply FAFSA scholarship as they are primarily awarded on the basis of student's financial requirements
It is not awarded only to those with exceptional academic performance, but one must be passed in previous qualifications achieved to receive scholarships. However, some universities or colleges may require higher GPA scores before shortlisting candidates.
The application will also allow the candidate to look for a range of Scholarships options.
The Scholarships are also available for those planning to go for study abroad programs.
No credit history is required for receiving loans through FAFSA.
No co-signer signature required from family members or others
The students may start repaying for the FAFSA loan as soon as they are employed.

Though, FAFSA may not offer scholarships or grants for Indian students, but it does offer a flexible repayment option. Students may also search for any suitable scholarships or awards in order to cover their cost of education or living expenses.