Introduction
The Free Application for Federal Student Aid (FAFSA) is the primary way to apply for financial aid for college or career school. The FAFSA form collects information about your financial situation to determine your Expected Family Contribution (EFC). Your EFC is used to calculate your eligibility for federal student aid, including grants, loans, and work-study programs.
If you have past due tuition, you may be wondering if FAFSA will still pay for your education. The answer is: it depends.
Eligibility for FAFSA
To be eligible for FAFSA, you must meet the following requirements:
- Be a U.S. citizen or eligible noncitizen
- Have a valid Social Security number
- Be enrolled in or accepted into an eligible college or career school
- Be making satisfactory academic progress
- Not be in default on a federal student loan
- Not owe a refund on a federal grant
Past Due Tuition and FAFSA
If you have past due tuition, you may still be eligible for FAFSA. However, your past due tuition will affect your EFC and may reduce your eligibility for aid.
The amount of your past due tuition will be included in your EFC calculation. This means that your EFC will be higher, which may make you ineligible for some types of aid.
For example, if your EFC is $10,000 and you have $5,000 in past due tuition, your new EFC will be $15,000. This means that you may be ineligible for some types of aid that are based on financial need, such as Pell Grants.
Options for Paying Past Due Tuition
If you have past due tuition, there are a few options available to you:
- Contact your school’s financial aid office. They may be able to help you create a payment plan or find other ways to pay your tuition.
- Take out a student loan. This can be a good option if you have good credit and can afford the monthly payments.
- Get a job. This can help you earn money to pay your tuition.
- Ask for help from family or friends. They may be able to help you pay your tuition or provide you with other financial assistance.
Tips for Completing the FAFSA
If you have past due tuition, it is important to be honest and accurate when completing the FAFSA. If you do not report your past due tuition, you may be ineligible for aid.
Here are some tips for completing the FAFSA:
- Gather all of your financial information before you start. This includes your tax returns, bank statements, and investment account statements.
- Answer all of the questions on the FAFSA honestly and accurately. If you are not sure how to answer a question, contact your school’s financial aid office for help.
- Submit your FAFSA as early as possible. The deadline for the FAFSA is June 30th, but you should submit it as early as possible to increase your chances of getting aid.
Conclusion
If you have past due tuition, do not give up on your dream of going to college. There are still options available to you to help you pay for your education. Contact your school’s financial aid office to learn more about your options.
