Tuesday, January 14, 2014

Filing for student financial aid early could mean more money

The race is on for students and their parents looking to secure college financial aid. Tax season is upon us, and that means it's time for college students to start thinking about filing the free application for student aid.

In order to qualify for Illinois’ Monetary Aid Program, or MAP grants, students must submit a FAFSA by March 1st. If college students don't meet that deadline they could be missing out on around $4,700 in aid that does not have to be repaid.

"If they file after April 1st then they may have limited chances to get funds that are campus based aid or institute funds because we award on a first come first serve basis. So the later they file the less their chances of getting free money," said Jerry Joseph, UIS director of financial assitance.

The story was featured by WICS-TV 20 on January 13, 2014.

Watch the story online