3,000 Reasons It's Important to Apply for State Aid (Okay, Just 3)
- It’s real money ($3,000 per year on average)
- It’s renewable for all four years of your degree
- Tracking down all these programs is easy (thanks to Mos)
1. It's real money
Did you know that States provide $12.5 billion to students in financial aid every year!? Even better, it’s almost all grants and scholarships: free money you don’t have to pay back. If you take the average State aid award of $3,000 and multiply it by 4 years of college, that’s $12,000 extra dollars. And what happens if, instead of spending that money on tuition you’re able to save it for your retirement? It compounds to over $200,000! [Source: National Association of State Student Grant & Aid Programs]
2. It's renewable for all two or four years of your degree
Many students think scholarships are automatically renewable but a lot of them, especially ones for academic merit, are only for one year. Now, receiving a scholarship for one year is cool, but you’ve got to think about all the years you’ll be in college, not just the first one, right? Nearly all State financial aid is renewable year after year, so long as you keep your grades up and continue to qualify.
3. Tracking down all these programs is easy (thanks to Mos)
Application requirements, eligibility criteria, and deadlines all vary by state and by program. Some are based on financial need, some aren’t. Some on academic performance, some not. Some due before January, some not. Some need a separate application besides the FAFSA®, some don’t. That’s why Mos custom built a new financial aid application that takes all that into account and automatically connects your application to all the aid money you qualify for. It’s all there - go get it!
As a reminder, federal and state government operate financial aid programs. Many have their own applications, FAFSA® being the most important one. Mos is not affiliated with the Department of Education or any state agencies. Mos helps students with their FAFSA® for free, and the FAFSA® is also always available from fafsa.gov.