YOUNGSTOWN, Ohio (WKBN) – High school seniors and college students and colleges can now start working several months in advance on their financial aid packages.
Beginning this year, students and parents can begin applying for federal student financial aid beginning in October. Previously, the application process opened up in January.
Elaine Ruse, director of financial aid at Youngstown State University, said the change is good because October is the usually the time most high school seniors are applying to schools.
“That will enable colleges to submit early financial aid offers that the families then have a hot more time to evaluate and consider and make more decisions in terms of cost and the student’s enrollment,” Ruse said.
With the earlier filing, families are allowed to use income information from two years prior to the application year.
Financial aid is awarded on a first come, first served basis. So, applying early is beneficial.