Do you know what FAFSA® stands for?
If you don’t, you’re not alone. Although all students generally know what the FAFSA® is, they might not know that it stands for Free Application for Federal Student Aid.
But if they don’t know what it stands for, what do they *think* it stands for? That’s what we decided to ask some students here in NYC, and the results were too funny not to share. Check it out:
If you’re thinking this is just a joke, it’s definitely not.
Sure, these reactions are hilarious, but it represents a larger issue. According to polling by the Institute for College Access & Success, students often view the filing process as “confusing, difficult, and demoralizing.”
And the real cost of their frustration is definitely not funny. Consider these statistics:
- The class of 2017 left $2.3 billion in financial aid on the table.
- Less than one-third of first-year college students with the most need file for financial aid.
- Nearly 4 million undergraduates with federal student loan debt dropped out in 2015-16.
These numbers are heartbreaking, especially when you consider that filing for financial aid is something any student can do completely for free.
Even if you forget what FAFSA® stands for, the one thing to remember is that the first “F” stands for “Free.”
Yes, filing for federal aid is always free. And a lot of the aid students can receive from the FAFSA® is free, too, such as scholarships and grants. Even if students don’t qualify for free money, filing the FAFSA® is the only way to access federal loans — which usually have lower interest rates than any private loans.
That’s why we offer a free version of this free form that is much simpler than what’s out there. If you’re interested in filing for financial aid today (or just want to learn more), check us out. And if you found this video as hilarious as we did, why not give it a share to test your friends’ “college knowledge”!