Thursday, January 24, 2013

Time and money running out for FAFSA

The official deadline to file a Free Application for Federal Student Aid, or FAFSA, is not for another five months. But with depleting funds across the board, you might want to get your name in sooner rather than later.

It is a battle students across the country are fighting. Rising tuition costs and dwindling aid, not to mention a slumping economy.

"I was almost at that point where I was going to have to take a semester off or couple of semesters off so that way I can work, save up money and then be able to pay for the next year," UIS student Dan Garcia said.

Garcia did not have to do that because he filed his FAFSA before the money ran out.

UIS Admissions Counselor Brett Angelico urges students to file a FAFSA as soon after January 1 as possible.

"In recent years it has run out in I want to say mid-March and every year we see that it runs out a little quicker and quicker," Angelico said.

That is because there is less money and more people seeking help. Angelico said many students worry about filing tax returns before they fill out the FAFSA paperwork. But that is really not necessary.

"You can always file a FAFSA with last year's tax information. Just make sure that when you complete your taxes for this year that you go back and re-enter the information into your FAFSA form," Angelico said.

The FAFSA story was reported by WICS-TV 20 on January 23, 2013.

Watch the story online