Ohio 529 CollegeAdvantage knows that earning a college degree or pursuing career training can be expensive. This is why we encourage and help families nationwide to save early for their children’s education after high school.
Another way to cover these costs is by applying for free federal financial aid through the Free Application for Federal Student Aid, known as FAFSA. Financial aid is free money that does not need to be repaid. So, the more financial aid your student receives, the less the 529 funds or loans will be needed to cover the qualified higher education expenses. FAFSA is available to any student who wants to earn a college education or pursue career training. As many students will receive some amount of financial aid, it’s always best to apply for you never know what your family might receive.
This is why Ohio 529 is joining the Ohio Department Of Higher Education in support their “FAFSA Is For You!” program. Visit www.itsforyou.org to find tips for students, parents, and counselors, as well as checklists and more help. Over $100 million in student aid was not claimed last year so there should be plenty of funds available for your family.
For high school counselors, a great source of FAFSA knowledge is the Ohio Association Student Financial Aid Administrators (OASFAA). The organization has a Financial Aid Resource Page on which high school and college access counselors can request an OASFAA presenter for one of their school’s financial aid night, sign up for event emails, and review slide decks and webinar recording of the financial aid process. There are also workshops for` high school counselors and other resources to access.
If you haven’t filled in your FAFSA, you may want to complete the form as soon as possible, as financial aid is offered on first-come, first-served basis. The earlier the submission, the better the chances are that your child will receive federal monetary assistance. The later you submit your FAFSA, the smaller the available pool of financial aid will be. This can affect how much funding your child could receive. The good news is the forms are simpler to complete than ever before.
And why should everyone apply for FAFSA? The student aid received from the FAFSA can be used at colleges and universities, community colleges, as well as trade and vocational schools. Other organizations—like states in which the applicant lives, the universities and colleges to which the student has applied, and other private organizations—also use the information found on FAFSA to determine institutional grants or loans to offer students. The FAFSA also dictates a student’s eligibility for subsidized federal student loans.
Visit Ohio 529 today to start saving for your child’s or grandchildren’s education after high school with as little as $25. A 529 account can be used at four-year colleges and universities, community colleges, tech, trade or vocational schools, apprenticeships, and certificate or credential programs nationwide. Learn, plan, and start with Ohio 529 today at CollegeAdvantage.com.
