If you’re struggling to keep up with the cost of tuition during the COVID-19 pandemic, Ken Kaufman CFO has some interesting news for you! There may be hope for increased financial aid opportunities.

Here’s how you can maximize your financial aid package for the next college semester:

Submit Your FAFSA Application ASAP!

It goes without saying that submitting your Free Application for Federal Student Aid (FAFSA) as quickly as possible will yield the best results.  But now more than ever, this is ringing true.  According to student loan experts, it is anticipated that more students than ever before will be in need of financial aid.  This is largely due to the hardships brought on by the pandemic.  However, this also means that there’s a little more competition for the funds you need… So don’t dilly-dally — send that FAFSA in ASAP!

Pay Off Your Debts

(Non-student loan debts, of course!)  Paying off your debts may seem like a bad idea when you’re already struggling to keep up with costs.  But, this may actually assist you when it comes to applying for financial aid.  Having less cash on hand (or rather, in your bank account) demonstrates that you have an immediate need for the grants and loans you are applying for.  This may work in your favor — and it’ll also help you make progress on your existing debts!