Module Three Lesson One Activity

NGPF Activity Bank Paying for College RESEARCH: FAFSA Deadlines An essential part of successfully submitting your FAFSA is managing the different deadlines during various stages of the application process. It is not unheard of for students to miss out on financial aid opportunities simply because they missed the deadlines! Complete this activity to make sure you never miss an important financial aid deadline. Part I: Three FAFSA Deadlines Let’s first look into what kinds of deadlines you need to be aware of. Read the article 3 Types of FAFSA Deadlines You Should Pay Attention To and answer the questions below. 1.​ What is the federal filing period (start - end) for the FAFSA? October 1 – June 30 of the following year. 2.​ In your own words, explain what a priority deadline is and why it is important. A priority deadline is the college or state’s earliest deadline. Submitting before it gives you a better chance at receiving the most aid. 3.​ Why is it a bad idea to wait until June 30th of an academic year to file the FAFSA? By then, most financial aid money may already be gone 4.​ Who uses the information you submit in your FAFSA? The federal government, your state, and the colleges you apply to. 5.​ Use the space below to write down any other tips the article provides for the college and state deadlines that you would like to remember when you start the FAFSA process. College Deadline State Deadline Each college sets its own deadline. It can be earlier than the federal one, so check with each school. www.ngpf.org​ ​ ​ Varies by state and can also be much earlier. Submit your FAFSA as soon as possible after it opens. ​ Last updated: 12/12/23 1 Part II: State Deadlines for the FAFSA While the federal deadline for the FAFSA is June 30th, state deadlines can vary depending on which state you legally reside in. Use the State FAFSA Deadlines information on this page to find out when the state deadline is for your state. Then, answer the questions below. 6.​ What state do you legally reside in? What is the FAFSA deadline for this state? North Carolina – As soon as possible after October 1. Funds are limited. 7.​ Are there any specific instructions or deadlines for certain types of financial aid that you need to follow for your state? If so, what are they? Yes, submit early because aid is first-come, first-served in North Carolina. Part III: College Deadlines for the FAFSA Deadlines for the FAFSA can vary depending on which school you are applying to, so it’s important to research the FAFSA deadline for each school you are interested in. 8.​ Pick 3 schools you are interested in applying to and enter them in the table below. Then, conduct your own research to find out when both the priority and regular FAFSA deadlines are for each school. School #1: UNC-Chapel Hill School #2: Duke School #3: NC state Priority FAFSA Deadline March 1 February 1 March 1 Regular FAFSA Deadline June 30 June 30 June 30 Part IV: Verification So you have the federal, state, and college deadlines for the FAFSA and you’re ready to apply? Not so fast! There’s one more important deadline you should be aware of - the Verification Deadline. If you are selected for verification, it’s important to know when you need to submit the requested forms by. Watch the video, FAFSA Verification. Then, answer the questions below. 9.​ What does it mean if you are selected for verification? Should you be worried if you are selected? It means they’re checking your FAFSA info. No, don’t worry, just send in the documents. 10.​ What risks are you taking if you wait to submit your verification materials at the last minute? www.ngpf.org​ ​ ​ ​ Last updated: 12/12/23 2 You might lose aid or miss out on awards. 11.​ What do you think happens if you fail to meet the deadline for verification? You could lose some or all of your financial aid. 12.​ Although it is rare, your Student Aid Index (EFC) may change after you complete the verification process. In the table below, think about what may happen to your financial aid package if your EFC increases or decreases. SAI Increases SAI Decreases The amount you and your family are expected to pay has increased (increased/decreased). The amount you and your family are expected to pay has decreased (increased/decreased). What is the impact on your financial aid offer? What is the impact on your financial aid offer? You may receive less aid. You may receive more aid. Part V: Reflection 13.​ What challenges do you anticipate in managing and/or meeting the deadlines for the FAFSA? Forgetting deadlines or not knowing them. 14.​ What skills will you need to make sure you can meet these deadlines in a way that gives you the best chance of receiving the most financial aid? Time management, organization, and checking email regularly. 15.​ Besides the FAFSA deadline, what other types of financial aid do you think you will need to research the deadlines for? Scholarships, state grants, and institutional aid. www.ngpf.org​ ​ ​ ​ Last updated: 12/12/23 3 If you used this Activity as a stand-alone resource, here are some NGPF resources that would accompany/supplement it: ●​ RESEARCH: How Many File the FAFSA Where You Live? www.ngpf.org​ ​ ​ ​ Last updated: 12/12/23 4