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Are you eligible for Free Application for Federal Student Aid also known as FAFSA? This is a very important question for youngsters because their future career and educational qualification will be determined on the basis of their eligibility or lack of it. If you are eligible for Federal aid, you can join a pool that contains more than $150 billion dollars.
Needless to say, that is a lot of money and can take care of your education requirements without any troubles or hassles whatsoever. Well, understanding who becomes eligible for this student aid is not an easy task.
Like all government programs, there are detailed terms and specifications involved. This aid is not restricted to US citizens alone. There are certain non U.S. citizens who are eligible as well. On the face of it, the rules indicate that a person was been convicted of any offense related to drugs is automatically ineligible. However, there are exceptions where a person can become eligible again by proving that he or she is no longer related to the drug trade.
In such a scenario, the smartest option is to fill the application and keep your name in the list of potential recipients of aid. If you do not qualify, you can console yourself for having at least tried. However, chances are high that you will qualify unless you do not fit in almost all eligibility requirements.
Further, quantum of aid and terms and conditions depends on numerous variable factors. Student aid, as the name suggests, will be available for financially unique individuals, right? Well, even those from high income families can qualify for aid. They will not get any assistance from the government as far as interest repayment is concerned.
For such persons, repayment begins six months after graduation but interest will accrue from date of graduation. On the other hand, those who are not financially secure will be exempt from paying interest for the six month period. Liability towards interest and principal begins six months after graduation. Irrespective of what your research indicates, fill the form and hope for the best.