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Financial aid for college: Fill out your FAFSA early, especially in Texas

Texas awards a lot of student financial aid on a first-come, first-served basis, so fill out your FAFSA form early. The application process started Oct. 1.

An important clock is ticking. It’s time again to fill out the FAFSA (Free Application for Federal Student Aid). 

Forty-two percent of college students recently surveyed by College Finance and Quatromoney said the pandemic has affected their ability to pay for their education. 

Another survey by LendingTree finds 36% of parents have tapped their child’s college fund to help cover expenses due to the economic downturn caused by COVID-19. There is a lot of need for financial aid, but there is limited funding to meet that need.

Get in early

Remember, Texas is one of the states that awards grants on a first-come, first-served basis. The FAFSA application just opened up Oct. 1, so it’s still early in the process. But get the forms filled out as soon as possible. 

Adding more urgency, Savingforcollege.com has a column where they report, “Students who file the FAFSA during the first three months tend to get more than twice as many grants, on average, as compared with students who file the FAFSA later." 

As you are getting ready to fill out your information, consider some tips offered by Nerd Wallet to maximize your potential aid amount. Finaid.org also gives a lot of maximizing advice.

The forms  

Click here to go to the site to fill out your FAFSA.

Click here to get more information and to fill out the TAFSA (This is for foreign students and non-citizens).

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