October 1, 2021
Along with charting their academic and career paths, students also need to manage financial matters related to their education. One of the best things they can do is file the Free Application for Federal Student Aid, also known as the FAFSA. By filling out this form, students can become eligible for federal aid, including grants, loans and work-study programs.
“The U.S. Department of Education, State of Michigan, and Oakland University uses FAFSA to determine students’ eligibility for financial aid from all three sources,” Carrie Gilchrist, senior financial aid outreach adviser, explained. “All students should submit one so they don’t miss out on any opportunities to fund their education.”
The application is made available each year on October 1. Students are encouraged to file it as soon as possible to increase their opportunities for receiving aid. Students (and parents when applicable) who file taxes are encouraged to complete the FAFSA using the IRS Data Retrieval Tool (DRT) embedded in the form. Instructions on how to do that are available here. File now at studentaid.gov/fafsa or use the MyStudentAid app to get priority processing and maximize your financial aid eligibility.
Current OU undergraduate and graduate students who need help renewing their FAFSA can contact Student Financial Services to speak with an advisor. OUWB medical students who need help renewing their FAFSA can visit OUWB Financial Services.
The deadline to file a FAFSA for the 2022-2023 year is June 30, 2023. In addition, students who have not yet submitted a FAFSA for the 2021-2022 year have until June 30, 2022 to do so.
Filing a FAFSA early increases students’ chances of receiving federal aid offered on a first-come, first served basis. And, it allows them to tackle financial concerns ahead of time so they can remain focused on completing their degree.
“The sooner students file the FAFSA, the better,” said Gilchrist. “Not only does this enhance their potential to receive aid, it also allows them to address any issues well in advance of the upcoming academic year.”
For more information about FAFSA, visit oakland.edu/fafsa or contact OU Student Financial Services at (248) 370-2550 or [email protected].