A new school year just started, but it’s never a bad idea to plan for the next one, especially when you need help paying for your education.
The best tool to get student financial aid is the 2024-25 Free Application for Federal Student Aid, or FAFSA form, which will launch later than usual this year. The form is expected to be available in December, instead of October, with a new simplified look and a new calculation to determine your eligibility. However, that’s not the only way Americans can pay for school.
Families also can apply for financial aid at certain schools using the College Scholarship Service Profile. They’ll still have to complete FAFSA, but the service profile can provide an opportunity to get other financial help.
The process can be confusing so here is a breakdown of the differences between the FAFSA and service profile. You can decide if completing the service profile is worth your time.
What is FAFSA used for?
Completing the Department of Education’s FAFSA is the only way you can be considered for federal student aid. The free application for the 2023-24 school year is available now to complete online, on mobile app, or by mail and is due no later than 11:59 p.m. CDT on June 30, 2024. The 2024-25 FAFSA opens in December and is available through June 30, 2025.
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States and colleges also use FAFSA information to award their own grants, scholarships, and loans. States and colleges have their own deadlines, so…
