Students encouraged to file early for financial aid

Published: January 29 2015

Category:InsideUF

University of Florida students who complete their Free Application for Federal Student Aid (FAFSA) and UF financial aid files before March 15 have a better chance of receiving those funds.

To ensure that the federal processor has time to analyze and send the results of an individual’s FAFSA to UF, it is recommended to apply well before March 15 to be considered for the most substantial assistance.  

Financial aid is awarded on a first-come, first-served basis. So students are encouraged to apply as early as possible. To do so, they must complete the Free Application for Federal Student Aid at www.fafsa.gov. This may be done as early as January 1 of each year. 

To be considered for a financial aid package by UF Student Financial Affairs, students must already be admitted and have met the on-time deadline.

Although students must be accepted for enrollment at UF before they are considered for financial aid, they should apply for aid before being admitted.

What can students do to prepare for 2015-16?

Apply online

Nationally, most students seeking financial aid apply online. UF recommends using the FAFSA website, which can save weeks of processing time and also corrects any errors it may find. The online application can be found at www.fafsa.ed.gov.

Apply early

For an application to be considered on-time, the Office for Student Financial Affairs must receive a student’s FAFSA results, with a calculated Expected Family Contribution (or EFC), by March 15. Submitting the FAFSA weeks in advance of the deadline will help ensure the UF Student Financial Affairs office receives the data in time.

Don’t hesitate, estimate

Many students make the mistake of waiting to file their FAFSA until their income taxes for the previous year are completed. If federal income tax returns have not been filed when it’s time to apply for aid, estimated income information can be reported on the FAFSA. Their website offers a handy income estimator for students as they file. If the estimate differs from the actual income, the FAFSA must then be corrected.

Credits

Writer: Monique Hernandez

Category:InsideUF