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The FAFSA Benefits

2021 has begun, and if you are a junior or senior in high school that means it’s time to start looking forward to college.  At Compass College, we believe that the FAFSA can help expand your opportunities and make college a reality.  We want to educate you on all of your options, and to help make college more affordable. Here is a testimony from a current student who benefitted from filing out the FAFSA.

“As an older than usual and financially independent student, going back to school wouldn’t have been possible without the FAFSA. My financial aid relieved a lot of stress and has helped me focus more on the education side of things.”  Seth K., Freshman 2021

Video Source: FAFSA YouTube Channel

Top 5 FAFSA benefits

  1. Federal and State Grants:  In order for a student to qualify for any federal or state grants, federal loans or federal work-study, they must file a FAFSA.  Some organizations that offer student scholarships also require the FAFSA to be filed.  If a student qualifies, they can potentially get up to $2800 in grant money from the State of Michigan and up to $6495 in grant money from the federal government.  Filing your FAFSA qualifies you for these grants and for Federal Work Study, which enables you to work for your college. Just about every student who files a FAFSA is also eligible for some sort of student loan. Some of these loans are interest free until 6 months after the student graduates or ceases to be at least a 1/2-time student.
  2. Online Ease:  Since transitioning to an online application, filling out a FAFSA has never been easier. Students and families may now utilize the IRS Data Retrieval option on their FAFSA, which imports the majority of income information directly from the IRS into their FAFSA. This process takes roughly an hour, making online filing faster than its paper counterpart.
  3. Outside Scholarship Qualification:  Why stop at getting aid just from your state and federal government?  There are hundreds of scholarships to apply for! Many of them use FAFSA records to qualify a student’s financial need.  Want to earn the chance to receive more aid?  Having a FAFSA on file opens up that door!
  4. Earlier is Better: Early bird gets the worm (or in this case the grant money)! Saving for College reported that students who filed their FAFSAs between October to December received twice as many grants on average than those who filed much later. 
  5. Ease of Mind: Let’s face it, there are a lot of things on your mind as you prepare to leave home and attend college.  Don’t let your tuition costs be one of them! The earlier you file, the quicker you know how much you may receive in grants and scholarships.  This gives you the freedom to focus on enjoying your senior year, and to build excitement for your new adventure ahead!

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Compass College provides the environment for young artists to hone their skills and grow as young adults.  We give you the knowledge and opportunities to apply in real film industry scenarios that gives you the confidence and experience to start a thriving career.  Compass believes in its students, and their potential to be the next generation of storytellers.  So what are you waiting for?

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