FAFSA Friday

Some S.O.A.R. stars went on a field trip called FAFSA Friday, where they learned about how financial aid works and how to apply for it. FAFSA stands for Free Application for Federal Student Aid, and it’s the online form that helps students get money from the government to pay for college. During the presentation, students learned that the process starts at StudentAid.gov, where you create an FSA ID to log in. After applying, students receive a FAFSA Submission Summary that includes something called the Student Aid Index, or SAI. The presenters explained that the lower your SAI number is, the more financial aid you’re likely to get.

The presentation also showed how colleges figure out how much money each student needs. They use a formula that compares the Cost of Attendance, which includes things like tuition, books, housing, and meals, with your SAI. The difference between those two numbers is the amount of aid you might qualify for.

Another big takeaway was learning about the different types of financial help available. There are grants, which are free money that you don’t have to pay back, and scholarships, which you can apply for through websites like GoingMerry and Bold.org. Loans were also mentioned, and students were warned to be careful because they have to be paid back with interest. The presenters emphasized that if you’re under 24, you’re considered a dependent student and must include your parents’ financial information when filling out FAFSA.

Here are some new things students learned from the presentation.

"If you are not satisfied with the amount of financial aid you receive, you can always make an appeal." - Juliette Wines.

"Subsidized loan interest increases about 6-9 months post graduation, and if it is not paid, it ruins your credit." Jahziel Cristobal.

FAFSA Friday was really helpful for understanding how college financial aid works. It gave students clarity on what steps to take, what documents they’ll need, and how important it is to apply early to get the most help possible for college.