How to Apply for Financial Aid: FAFSA and TASFA Guide
Learn how to apply for financial aid with this step-by-step FAFSA and TASFA guide. We'll walk you through eligibility requirements, application deadlines, and strategies to maximize college affordability as part of your postsecondary planning.
Expert guidance from Ms. Thrash — your partner in college and career readiness planning, helping students and families navigate the financial aid process with confidence.
For high school students, families, and recent graduates planning for college
Texas Graduation Requirement
FAFSA or TASFA completion is now mandatory for high school graduation in Texas. All students must complete the appropriate financial aid application before graduating.
Understanding Financial Aid and College Affordability
College costs continue to rise, making transparent conversations about financial aid essential. Understanding the types of financial support available helps you make informed decisions about college affordability and planning.
Discussing family finances early helps determine what's affordable and prevents disappointment later. Most colleges offer generous financial aid packages to help families in need.
Key Planning Principle
When building your college list, include schools with varying costs and some within your financial means. Finding a financially appropriate college is as important as finding academic and social fit.
Types of Financial Aid: Need-Based and Merit-Based
Financial aid comes in two primary forms: need-based aid (determined by your family's financial situation) and merit-based aid (awarded for achievements).
Need-Based Aid
- Based on: Financial need demonstrated through FAFSA/TASFA
- Sources: Federal, state, and institutional funds
- Examples: Pell Grants, subsidized loans, work-study
- Forms: Grants (no repayment) and loans (with repayment)
Merit-Based Aid
- Based on: Academic or extracurricular achievements
- Sources: Colleges, universities, private organizations
- Examples: Academic scholarships, athletic awards
- Note: Often automatic with admissions application
Important: More selective institutions typically focus resources on need-based aid rather than merit scholarships. Research each school's financial aid philosophy.
FAFSA vs. TASFA: Which Application Do You Need?
Understanding which financial aid application to complete is your first step. Texas students have two primary options depending on citizenship and residency status.
FAFSA
Free Application for Federal Student Aid
Who Should Complete:
- • U.S. citizens
- • Permanent residents
- • Eligible non-citizens
Provides Access To:
- • Federal Pell Grants
- • Federal student loans
- • Work-study programs
- • State and institutional aid
TASFA
Texas Application for State Financial Aid
Who Should Complete:
- • Texas residents not eligible for FAFSA
- • Students meeting Texas residency requirements
Provides Access To:
- • State of Texas aid programs
- • Institutional aid at Texas public colleges
- ��� Some private scholarships
Financial Aid Timeline and Key Deadlines
Meeting deadlines is crucial for maximizing financial aid. Many programs distribute funds on a first-come, first-served basis.
FAFSA Opens
The FAFSA becomes available October 1 for the following academic year. Submit as soon as possible.
Early Submission Window
Complete your FAFSA or TASFA during this period to maximize aid opportunities and meet early deadlines.
Priority Deadlines
Many states and colleges have priority filing deadlines. Check specific deadlines for each institution on your list.
Award Letters Arrive
Colleges send financial aid award letters. Review and compare packages, then respond by each college's deadline.
Scholarships: Additional Financial Aid for College
While FAFSA opens the door to federal and state financial aid, scholarships provide additional funding that doesn't need to be repaid. Many scholarships have deadlines between October and March, so start your search early.
Scholarships reward academic achievement, leadership, community service, talents, and many other criteria. Some require FAFSA completion, while others have separate applications.
Tips for Scholarship Success
- • Start searching for scholarships during junior year and continue through senior year
- • Apply to multiple scholarships to increase your chances of receiving aid
- • Pay attention to deadlines and required materials for each scholarship
- • Look for local scholarships with less competition in addition to national opportunities
Common Mistakes to Avoid
Avoid these frequent errors that can delay processing or reduce your aid eligibility.
Missing Deadlines
Submitting after priority deadlines significantly reduces available aid. Mark all deadlines and submit early.
Incorrect or Incomplete Information
Double-check Social Security numbers, income figures, and personal information. Errors delay processing.
Not Listing All Colleges
Include every college you're considering. You can always remove schools later.
Assuming You Won't Qualify
Always apply regardless of income. You may qualify for unexpected aid, and many colleges require FAFSA for merit scholarships.
Not Renewing Annually
You must resubmit FAFSA or TASFA every year. Set annual reminders to complete it on time.