The U.S. government clearly understands the importance of post secondary education in positively impacting the nation. It therefore ensures that each eligible student in the United States is able to receive financial assistance for higher education.
Although parents can opt for private funding through sources like banks and other financial institutions, the rates of interest can be prohibitively high in most cases. On the other hand, the interest rates of federally funded student loans are much less in comparison. It is therefore imperative that parents take all steps necessary to apply for student loans available through the federal government.
Federal Student Aid is actively involved in educating students and their families on the exact procedure to obtain student loans. Once the applications are received, it processes them by the millions before the start of each academic year. It also disburses billions of dollars through schools to fund the education of students who have applied for financial aid.
The first step in applying for financial aid is to fill and submit the FAFSA or Free Application for Federal Student Aid. The name of the student should be entered exactly the way it is mentioned in the student social security card. The format used is 'first name', 'middle initial' and 'last name'.
Since the analysis bureau would be linking up the FAFSA with the social security number, the names should match precisely for the application to be approved. A mismatch in the names could result in the application being sent back for correction. This would cause a delay and end up pushing the applicant to the back of the line. Since most financial aid is provided on a first-come-first-served basis, it is important to be at the head of the line. Even a minor error on the FAFSA can result in a loss of thousands of dollars in financial aid.Article Source: http://EzineArticles.com/6861489