The Department of Education is now accepting FAFSA (Free Application for Federal Student Aid) applications for fall 2015. The federal government provides nearly $150 billion in financial aid each year. If your child was born on or after January 1, 1992, he/she is mostly likely eligible. Why should you apply? For starters, it’s free. Secondly, it’s easy. Ed.gov says it takes less than 21 minutes to complete the application. And the FAFSA.gov website is launching an IRS Data Retrieval Tool (beginning February 1) to make the process less painful.
There are a lot of myths about financial aid. As Nicole Callahan, Digital Engagement Strategist at the U.S. Department of Education’s office of Federal Student Aid, writes: “The reality is, EVERYONE should fill out the FAFSA! Don’t leave money on the table.”