Sallie Mae Offers Free Tips and Resources to Help Families Complete the FAFSA® | Business
NEWARK, Delaware – (BUSINESS WIRE) – Sep 20, 2021–
Last year just 68% of families filed the Free Application for Federal Student Aid (FAFSA ® ), the gateway to $ 150 billion in federal scholarships, grants, work-study and student loans. Among the main reasons not to file? Families cited the complexity of the FAFSA, as well as the time it takes to file. Additionally, among those who did not complete the FAFSA for the 2020-21 academic year, 44% said they did not think they could qualify for aid.
To help students and families complete the FAFSA ®, and ultimately make informed decisions about funding higher education, Sallie Mae® today launched a FAFSA ® application tool this simplifies the process and significantly reduces the time it takes to apply for federal financial assistance. In fact, students can file in as little as seven minutes.
“Completing the FAFSA ® is one of the most important steps a student must take on their journey to higher education, ”said Jennifer O’Donald, Senior Vice President of Sallie Mae. “The reality is that almost everyone who applies will qualify for something. It is so important that students approach their collegial decision-making process with their eyes wide open and maximize the resources at their disposal.
Sallie Mae offers the following tips to help students and families prepare to complete the FAFSA ®:
- Completing the FAFSA ® October 1 (or shortly after) – Some financial aid is granted on a first come, first served basis, or from programs with limited funds. The first families complete the FAFSA ®, the better the chances of being online for this help.
- Do your homework before you drop off – Students and parents should collect social security numbers, driver’s license numbers, bank statements, 2020 tax returns and W-2 forms. Having this information handy before you start the application can help speed up the process and reduce stress.
- Synchronize your tax return – Available at Sallie Mae’s FAFSA® free online application tool, students and parents can download their tax return from the IRS website, speeding up the process and simplifying the application.
- Watch out for potential errors – Errors on the FAFSA® could delay an application, which means students and families could potentially lose financial aid. Entering incorrect social security or driver’s license numbers or forgetting to sign the application are some of the most common mistakes.
- Fill out the special circumstances form if COVID-19 has impacted your finances – There is an opportunity after filing the FAFSA ® submit a special circumstances form, particularly if a student’s or parent’s income has changed as a result of COVID-19 or other events. The form can be requested from the college financial aid offices.
For more information on how to complete the FAFSA ®, visit SallieMae.com.
Sallie mae (Nasdaq: SLM) believes that education and lifelong learning, in all its forms, help people achieve great things. As a leader in private student loans, we provide funding and expertise to help keep the university going, and offer products and resources to help clients achieve new goals and experiences, beyond from university, possible. Learn more about SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies in the United States of America.
Category: Financial Literacy
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CONTACT: Ashley Boucher
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SOURCE: Sallie Mae
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PUB: 20/09/2021 14:12 / DISC: 20/09/2021 14:13
Copyright Business Wire 2021.