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fafsa
wut exactly is fafsa?how often do i receive money? and do pay it back?
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Fafsa is Free Application For Student Aid. You get money every semester if you are approved for grants, loans, etc.
And yes, you do have to pay it back, as well as interest. The sooner the better. You can get deferments, which allow you to put the payments on hold, but they are a pain to get. At least, in my experience, I got a huge runaround that took long enough for my loans to go into default. Now, nearly 10 years later, they are threatening to garnish my wages, seize bank accounts, etc.
I HIGHLY recommend looking first for scholarships. You don't have to pay those back. Take the lowest amount of loans you will need. Save money to be able to pay them back. Do NOT let the loans go into default. If you can't pay them back soon, get a deferment as soon as possible. Don't put it off. It will take a while to get, and you don't want to end up where I did.
In short, if you get a loan, remember that you are responsible for it. It will not go away unless you pay it (or become a teacher. Teachers don't pay the loans back until they stop teaching. If they retire from teaching, they never pay it back. I think military gets a break too). Bankruptcy won't get rid of it either. Loans can be very useful, covering tuition and even housing and food. But they can really hurt too. Make sure you know what you are getting into before you take a loan.
You can find a lot of info on the official page here: www.fafsa.ed.gov/
You can find info on repayment here: [Link](Mouse over link to see full location)
A school counselor can also help you understand financial aid options better. I can't stress enough that you know what you are applying for before you apply.
Good luck, and enjoy college!
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Free Application for Federal Student Aid.
Before you begin:
[Link](Mouse over link to see full location)
Submitting it online, which I found to be much easier and quicker:
[Link](Mouse over link to see full location)
Receiving money and paying back all depends on your income, your status, etc. They let you know everything after filling out the application. You will probably need help from your parents, they ask for tax returns information. Hope that helped.
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