With the deadlines for many scholarships and grants looming, financial aid administrators are advising students to fill out their Free Application for Federal Student Aid (FAFSA) as soon as possible.
Students are required to fill out the FAFSA form, available in paper and online to receive any form of federal or state student aid, including the Pell Grant and the Oregon Opportunity Grant. Many scholarship applications also require the form.
Currently, legislation is pending in both the federal and Oregon congresses that has the potential to increase the amount of aid students will receive. U.S. Rep. Peter DeFazio, D-Ore., said the tone in the capitol indicated that Congress was interested in reinvesting in federally supported financial aid, namely increasing the maximum Pell Grant. Gov. Ted Kulongoski is also recommending that the Oregon Opportunity Grant, the largest state-based aid program, receive a $35 million in additional funds, increasing the average grant for eligible students.
“The sooner you get your FAFSA in, the sooner colleges can start processing your financial aid applications,” said Alan Baas, a college scholarship administrator with the Oregon Student Assistance Commission.
While the priority deadline isn’t until March 1, Baas said that many scholarship applications requiring the FAFSA are long before that. He advised students to file early in case they needed to make any changes to their application.
“The earlier you get your FAFSA in the more certain you are that all your corrections are made in time,” he said.
Additionally, students who don’t complete the form by March 1 could miss out on some types on financial aid, such as the Federal Supplemental Opportunity Grant, said Elizabeth Bickford, the director of financial aid and scholarships at the University.
“By applying by the priority deadline students put themselves in the best position to be eligible for those funds,” she said.
The FAFSA requires dependent students to report their assets and income along with their parents assets and income. Bickford said students should fill out the form even if they or their parents have not filed their taxes and advised students to estimate annual earnings.
The Oregon Student Assistance Commission, which is a state-run clearinghouse for more than 340 private scholarships, requires students to complete the FAFSA to apply for their scholarships. Students can apply for as many of the scholarships as they would like on one form. The application is due March 1 but students are encouraged to apply by Feb. 15.
Contact the higher education reporter at [email protected]