If you are planning to use Financial Aid for college or university next year, the FAFSA application opens October 1st. Please forward this e-mail to your parent/guardian so that they have access to these resources and links for ICAN FAFSA completion events.

Both student and the parent will need FAFSA accounts to be accessed through www.fafsa.gov

FAFSA application is also how you will receive access to IOWA FUTURE READY LAST DOLLAR SCHOLARSHIP monies if you go into a qualifying program at an Iowa Community College. Come see me if you aren't sure!!

This application to receive financial aid does not need to be complete until summer of 2023 but a good rule of thumb is to get it done by the start of second semester. However, you do need to have an idea of where you want to attend next year in order to complete the FAFSA. Parents will use 2021 Tax Documents to complete their part of the FAFSA.

ICAN - FAFSA completion events
ICAN will host FAFSA Step-by-Step virtual completion assistance events each month beginning in October. Students and families can register for these free events and follow along, asking questions and getting virtual assistance to complete the form. All events begin at 5:30 pm. Dates include:

Here are some more details from Wikipedia to share the different kinds of programs for financial aid that exist.

Types of federal financial aid

Federal Student Aid offers several different types of financial aid programs.

  • Pell Grant – A grant of up to $6,195 (as of the 2019–2020 Award Year) for students with a low expected family contribution.[17] A 2018 NerdWallet study found that students missed out on $2.6 billion in free federal Pell grants by not completing the FAFSA.[18]
  • Federal Supplemental Educational Opportunity Grant (FSEOG) – A grant between $100 – $4,000 for eligible students and the award is available for Undergraduate students. This grant money is limited at colleges and universities and usually is given to those who have completed their FAFSA application early and are eligible to receive this grant.
  • Federal Direct Subsidized Loan – Part of the Federal Direct Student Loan Program, Federal Direct Subsidized loans are need-based loans whose interest is paid by the government while the student is enrolled at least half time. Direct Subsidized Loans have fixed interest rates for the life-time of the loan. The interest rates for new loans are set yearly by the U.S. Congress.
  • Federal Direct Unsubsidized Loan - Part of the Federal Direct Student Loan Program, Federal Direct Unsubsidized Loans are not need-based, meaning that nearly all students are eligible to receive them. Unlike Federal Direct Subsidized Loans, Direct Unsubsidized Loans accrue interest the moment they are applied to a student's tuition account. Similar to Direct Subsidized Loans, Direct Unsubsidized Loans have fixed interest rates that are set yearly by the U.S. Congress.
  • The Federal Work-Study Program – An employment program that encourages students with low expected family contributions to find part-time work while pursuing their studies. The program allows the federal government to subsidize a student's employer by paying around half of the student's wages up to a certain amount. Students do not need to have Federal Work Study to work but some university or non-profit positions may require a student to have Federal Work Study in order to be employed.

Ethan Albertson  
HS School Counselor
Cross Country/Track641-444-4300   ext 2241