What You Should Know Before You Apply for the FAFSA

Our Federal Student Aid team is committed to making sure that all eligible Americans can benefit from financial assistance for education beyond high school. We allot billions of dollars for this purpose every year.

The amount and type of aid we provide depends almost entirely on financial need. Once students apply for aid, many are surprised by the amount of aid they receive. So a good rule of thumb is: Don’t assume you’re not eligible. Take the time to complete the Free Application for Federal Student Aid—the FAFSA (more on that later).

Read on to learn more about the types of student aid provided by the Department of Education, as well as other sources you can turn to for financial help in completing your education.

Remember: the more you know about how to make your ambitions real, the closer you are to fulfilling them. It’s up to you to make it happen.

Education After High School

Education beyond high school is a big investment of time, money and effort. You’ll need to figure out how to pay for your education. The U.S. Department of Education offers a variety of student financial aid programs, which are described in this guide.

You’ll also need to carefully evaluate the schools you’re considering. Just because a school participates in our federal student aid programs doesn’t mean we’ve endorsed the quality of education the school offers. We don’t approve a school’s curriculum, policies or administrative practices, except as they relate to how the school administers our federal student aid programs.

What questions should I ask when considering a college or career school?

• Does the school offer the courses and type of program I want?
• Do I meet the admissions requirements?
• Does the school offer a high quality education?
• Does the school offer services I need and activities I’m interested in?

Where can I find this information?

• Read the school’s catalog or introductory materials.
• Talk with students who currently attend or attended the school you’re considering to get their opinion of the school.
• Check the school’s Web site.
• Visit the reference section of your local library.
• Talk to high school counselors and your state higher education agency.
• Check to see if any complaints about the school have been filed with the local Better Business Bureau or the consumer protection division of the state attorney general’s office. Search for Better Business Bureau offices at www.bbb.org.

You’re paying for a high-quality education. Make sure you get it.

Take the next steps.

Before enrolling, make appointments to visit the colleges or career schools you’re considering. Bring a list of questions to ask school representatives. Your education is a major investment, so find out as much information as you can before you enroll.

What kind of information should I get from a school?

• Ask about the school’s accreditation, licensing and campus security.
• Find out the school’s loan default rate (the percentage of students who attended the school, took out federal student loans and failed to repay their loans on time). You might not be able to get aid from some of our programs at a school that has a high default rate.
• Find out the school’s job placement rates (the percentage of students who are placed in jobs relevant to their courses of study).
• Find out the school's most recent employment statistics, graduation statistics, and any other information necessary to back up its claims.

This information must be made available at the time you apply for admission to the school.

Find out about financial aid at the school.

You have the right to receive the following information from the school:

• The location, hours and counseling procedures for the school’s financial aid office.
• The financial aid assistance available, including federal, state, local, private and institutional financial aid programs.
• The procedures and deadlines for submitting applications for each available financial aid program.
• The school’s criteria for selecting financial aid recipients.
• The school’s process for determining your financial need.
• The school’s process for determining the type and amount of assistance in your financial aid package.
• The method and timing of aid payments to you.
• The school’s basis for determining whether you’re making satisfactory academic progress, and what happens if you’re not. (Whether you continue to receive federal financial aid depends, in part, on whether you make satisfactory academic progress.)
• If you’re offered a Federal Work-Study job, the nature of the job, the hours you must work, your duties, the pay and the method and timing of payment to you.

Find out the school’s refund policy.

If you enroll but never begin classes, you should get most of your money back. If you begin attending classes but leave before completing your course work, you might be able to get some of your money back.

Find out the school’s return-of-aid policy.

If you receive federal student aid from any program mentioned in this publication (except for Federal Work-Study), and you withdraw from school, some of that money might have to be returned by you or by your school. Even if you don’t finish your course work, you’ll have to repay the loan funds you received, minus any student loan funds your school has returned to your lender.

Find out the school’s completion and transfer-out rates.

If many students withdraw from a school, it might indicate a problem with the school. A school is required to disclose to current and prospective students the percentage of its students who complete the school’s programs and the percentage of students who transfer out.

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This content courtesy of U.S. Department of Education, Federal Student Aid, Students Channel, Funding Education Beyond High School: The Guide to Federal Student Aid, Washington, D.C., 2006.