FAFSA

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So, what’s the FAFSA? We’re glad you asked.

In addition to Pace University’s private scholarship and grant awards, the U.S. Department of Education also provides financial assistance for students furthering their education beyond high school. Students and their families receive money from the U.S. government to fund their education by filing out the FAFSA (Free Application for Federal Student Aid). Based on factors such as parental income, the results of the FAFSA help determine how much money a student may be granted or will be able to borrow for their college education. Some fast facts about federal student aid, from the FAFSA website.
 
  • The U.S. Department of Education distributes more than $80 billion each year in financial aid to students;
  • The U.S. Department of Education informs students and their families on the loan process, from the first stages to repayment.
As the name suggests, applying for the FAFSA is free, and can be done entirely online. For the most comprehensive explanation of the FAFSA, go to www.fafsa.ed.gov. Completing the FAFSA on time is important! To receive priority consideration for the most financial aid you must file the FAFSA by February 15 each year. Note that you do not have to complete your tax returns before filing the FAFSA – estimating is OK – because you can update the data once the tax returns are complete.  See the FAFSA website for more information on other deadlines, or check out our Financial Aid Timeline for Pace’s financial aid due dates.
 
Want to learn more about federal grants and loans? Go to www.studentaid.ed.gov or www.college.gov and read up on all the U.S. Department of Education has to offer.
 

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