- You need to be a US citizen or an eligible noncitizen to qualify to submit the FAFSA.
- Even if you don’t think you qualify for federal aid, it’s still worth taking the time to apply.
- Depending on your age, you may be eligible as an independent. Independents can borrow more money.
- Read more of Insider’s student loan coverage here.
Financial aid can be crucial for students who need money to cover the cost of college. The only way to find out if you qualify for financial assistance is by filling out the Free Application for Federal Student Aid, or FAFSA.
Even if you don’t think you’re eligible for federal aid, it’s still worth taking the time to apply – which is about 30 minutes to one hour. You don’t know what federal money is out there for you until you submit your application, and most colleges also use the FAFSA to determine institutional aid decisions. (more…)