FAFSA deadline: $3.7B ‘left on the table' because students don't apply
The Brief
It's time for graduating high school students to fill out their FAFSA or Free Application for Federal Student Aid.
Every year, thousands of dollars goes unclaimed because students do not fill out the FAFSA.
Find out how simple it is to apply – and see whether the student in your life can benefit.
MILWAUKEE - June 30th marks the deadline for federal financial aid (FAFSA) applications. It's a free, quick way to potentially unlock funds to put toward college. But a staggering amount of FAFSA money goes unclaimed year after year.
Why you should care
When he sat down to write a college financial aid essay, 18-year-old Abu Ahmad didn't have to look far for inspiration. He was born in Malaysia and at 6 years old, Ahmad came to the United States with his mother. "I used my mom's story of how she fled her country," he said, typing on his laptop. "My mother and relatives being stuck and endangered by the Rohingya genocide is what influenced my personal story to want to learn more about this topic."
Ahmad worked hard but admits he struggled learning English as a second language. When he started classes at MPS's Bradley Tech high school, Ahmad's persistence really started to pay off.
"Now I'm a senior," Ahmad said. "A 4.0 GPA [with a] full scholarship and full tuition to Marquette [University]. Nobody is going to give you the money – but the money is there to get. You have to go and get the money."
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As of April, Ahmed had already received six scholarships totaling more than $100,000. But it turns out a lot of students nationwide aren't taking advantage.
What we know
"In 2021 alone, there was $3.7 billion in Pell grant money left on the table because students didn't complete the FAFSA," said Jennifer Andreas, Senior Money Path Manager with the group SecureFutures. Andreas is also a Wisconsin Coalition on Student Debt board member. "That's a lot of college education right there that could have been paid for."
SecureFutures has met with almost all college-bound Bradley Tech Juniors and Seniors to help them fill out the FAFSA form. "What do those letters mean?" explained Andreas. "It's the Free Application for Student Aid – the first step for students who think they are college-bound to look at how am I going to pay for school."
Andreas says the FAFSA only takes about 20 minutes to complete.
"Students can put up to 20 potential schools that they are looking at. That application gets sent to those schools. If they student gets admitted, then they will receive a financial aid award letter which will notify them of federal grants, work study and scholarships that come directly from the school," Andreas said.
Andreas says currently, only 46% of high school seniors nationwide have completed the FAFSA. In Wisconsin, the number drops to about 39%.
Dig deeper
According to Forbes, Wisconsinites carry $30,777 dollars in federal student loan debt. That's slightly under Forbes' national average of just over $35,000. "There are so many merit-based scholarships out there – that's what is going to help offset those students' loans," said Andreas.
The FAFSA typically opens in October of a student's senior year of high school. This year's deadline is June 30. Andreas encourages all students to fill out the form – regardless of their family's financial circumstances. You never know which financial aid package might be offered… and every dollar helps.
What they're saying
"You'll never know unless you try," said Ahmad. "There are certain scholarships I applied for that are hard to get but I waited it out."
Ahmad plans to pursue a Mechanical Engineering degree at Marquette. He one day hopes to work for an engineering company making a six-figure salary. "It is possible to achieve the American Dream as a refugee and immigrant," he said. "We grew up with my mom always reminding us that – she did her part in bringing us here."
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More than anything, Ahmad just wants to make his mom proud.
"Hopefully help my mom pay off the house mortgage and by the will of God, I'll be able to buy my mom a new car too," Ahmad said.
The Source
The information in this post was provided by Milwaukee Public Schools and SecureFutures.
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