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February 1 marks the start of Financial Aid Awareness Month, a time dedicated to educating and empowering individuals to pursue their academic dreams through financial assistance. This month also coincides with the beginning of many college application deadlines, making it the perfect time to learn about the various resources available for funding your education. Whether you're a high school student preparing for college or an adult looking to further your career, this month is all about helping you achieve your goals without breaking the bank. So let's dive in and discover all that Financial Aid Awareness Month has to offer!
<div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1954</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Introduction of Educational Loans</div><div class='timeline-text'>The first federal student loan program, the National Defense Education Act, was established following the launch of the Sputnik by USSR.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1965</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Inception of FAFSA</div><div class='timeline-text'>The creation of Free Application for Federal Student Aid (FAFSA) form stemmed from the Higher Education Act, signed by President Johnson.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1972</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Birth of Pell Grants</div><div class='timeline-text'>Basic Educational Opportunity Grants, later renamed Pell Grants, were introduced to offer need-based grants to low-income undergraduate students.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1992</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Direct Loan Program Initiated</div><div class='timeline-text'>The Federal Direct Student Loan Program was set up to provide loans directly to students and parents, stemming from amendments to the Higher Education Act.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2008</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Expansion of Pell Grants</div><div class='timeline-text'>The College Cost Reduction and Access Act provided the largest increase in aid since the GI Bill, expanding Pell Grant funding.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2013</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Financial Aid Awareness Month</div><div class='timeline-text'>The U.S. Congress officially established February as Financial Aid Awareness Month to spread awareness about the process of applying for financial aid.</div></div></div>
<div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>1</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Host a financial aid workshop</h3><p id='' class='facts-text'>Gather students and their families to educate them about the importance of financial aid and how to navigate the application process. This can be done in collaboration with your school or local community organizations.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>2</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Create a social media campaign</h3><p id='' class='facts-text'>Use social media platforms to share information about financial aid resources, tips, and success stories. Encourage students to ask questions and share their own experiences with financial aid.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>3</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Organize a scholarship search party</h3><p id='' class='facts-text'>Get students together to search for scholarships online. Offer guidance and assistance in finding scholarships that match their interests and qualifications.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>4</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Host a financial aid trivia night</h3><p id='' class='facts-text'>Make learning about financial aid fun by hosting a trivia night focused on financial aid topics and resources. Offer prizes for the winners to make it even more exciting.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>5</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Partner with local businesses for discounts</h3><p id='' class='facts-text'>Reach out to local businesses and see if they would be willing to offer discounts or promotions for students who present their financial aid award letters. This can help students save money on everyday expenses while also promoting the importance of financial aid.</p></div></div>
<div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>A</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It helps students access higher education</h3><p id='' class='whywelove-text'>Financial aid provides vital support for students who may not have the means to pay for their college education. By raising awareness about the resources available, more students can pursue their dreams of higher education and improve their career prospects.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>B</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It promotes financial responsibility and literacy</h3><p id='' class='whywelove-text'>Financial aid awareness month is a time to educate individuals about loans, grants, scholarships, and other forms of aid available. This not only helps students make informed decisions about their own finances, but also fosters a culture of financial responsibility in society.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>C</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It highlights the importance of investing in education</h3><p id='' class='whywelove-text'>By promoting scholarship opportunities and spreading knowledge about financial aid options, Financial Aid Awareness Month emphasizes the value and impact of investing in education for both individuals and society as a whole. It serves as a reminder that access to quality education should be attainable for everyone, regardless of financial background.</p></div></div>
<div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>1</p></div><div class='facts-core-content'><h3 class='facts-title'>Financial Aid Can Cover a Variety of Educational Expenses</h3><p class='facts-content'>Financial aid supports students to bear expenses beyond tuition fees, such as books, supplies, transportation and housing, which are part of the total cost of attendance.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>2</p></div><div class='facts-core-content'><h3 class='facts-title'>FAFSA is Integral for Accessing Federal Financial Aid</h3><p class='facts-content'>The Free Application for Federal Student Aid (FAFSA) is a necessary document for American students to apply for federal financial aid, including grants, work-study and loans.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>3</p></div><div class='facts-core-content'><h3 class='facts-title'>Scholarships Don't Need to be Repaid</h3><p class='facts-content'>Scholarships are considered gift aid, meaning they don't need to be repaid. They can come from the federal government, your state government, your college or career school or a private or non-profit organization.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>4</p></div><div class='facts-core-content'><h3 class='facts-title'>Student Loans Must Be Repaid With Interest</h3><p class='facts-content'>Borrowers of student loans are required to repay the loan amount along with interest, even if the student doesn't complete their education, can't find employment after graduation, or isn't satisfied with the education they paid for.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>5</p></div><div class='facts-core-content'><h3 class='facts-title'>You Can Change Your Financial Aid Package</h3><p class='facts-content'>If a student's financial circumstances change, they can appeal to their school's financial aid office for a reevaluation and potential change in their financial aid package.</p></div></div>
Financial Aid Awareness Month is celebrated on February 1 every year. In 2024 Financial Aid Awareness Month will begin on a Thursday.
2023
Feb 1
Wednesday
2024
Feb 1
Thursday
2025
Feb 1
Saturday
2026
Feb 1
Sunday
2027
Feb 1
Monday
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