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Five Reasons to Get Federal Financial Aid

March 2, 2012

It’s obvious to a lot of people why financial aid from the government can really help you, but if you have a G.I. Bill coming or you simply think you have saved enough, you may be thinking why take advantage of something that you may not need. Well, there are a lot of reasons that federal student aid is a must for anyone who is going to school, but especially for those who have risked their lives every day to fight for the country. Federal financial aid can also mean more funding for more classes and paying for your living expenses while you are in school. Most veterans and active duty service members are eligible for federal aid so why not apply?

1. It’s All Online

You can apply online through the Free Application for Federal Student Aid website at any time, from anywhere, because it’s all online. You also don’t have to mail in anything unless you are selected for a verification process. The application is completely online and applies to all of the federally sponsored education aid programs that are available, including those that are subsidized and unsubsidized loans or Pell Grants.

2. Don’t You Want Free Money?

Even if you only get $500 or less, who denies free money? It’s enough to pay for a semester of classes, and you can get that aid every semester that you apply usually. Pell Grants can offer you a variety of different sums, higher or lower than this one, and it leaves more money in your G.I. Bill for other things and later degrees that you may want to get.

3. Pick and Choose

FAFSA applies to a variety of grants, work-study and loan programs. You don’t even have to accept all of the aid that you receive. You can deny any loans that you don’t want or reduce your federal aid to an amount that would satisfy your budget.

4. Cover Your Start Up Costs

It actually takes a lot of money just to get started in school. From moving to a new location, getting books, purchasing supplies, enrollment and lab fees, up-front tuition and other costs, that you can pay for with federal student aid, instead of waiting on your G.I. Bill benefits. It can take up to 45 days to actually get your G.I. Bill benefits, and this is after the semester starts.

5. It’s Less Expensive

You may think that you can just borrow what you don’t have from private loan sources, but it’s really more expensive to do this. You also may have credit cards that can pick up the slack but that’s just running up more interests. Free money is free, and you can benefit from taking advantage of it for school.

Veterans rely on the G.I. Bill as they should, to get a good education, but it isn’t the only source of education money that you can get, and if you’re going to school anyway, you should find alternative sources that will make it just that much easier to get a good education. You never know how long you will be in school or how much things will cost, and you may not have time to wait on your G.I. Bill benefits.

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