To quote Benjamin Franklin: an investment in knowledge always pays the best interest. An education is an investment of time and money in your future, providing you with a base of knowledge and skills you can build a career out of. Sometimes paying for that education can be tricky, which is why financial aid options exist to help you overcome any financial barriers that come up between you and furthering your studies. If you’re new to pursuing financial aid, read on as we break down what you need to do to get started.
What Is Financial Aid?
Financial aid can come in various forms, with the three most prominent being student loans, grants, and scholarships. The essential difference between the three is whether or not you have to pay them back. Scholarships and grants are funded from sources that include the federal or state government, colleges, nonprofit organizations, and other institutions. They are monetary awards that do not need to be repaid! Some grants or scholarships may have reporting requirements tied to them in which you have to report how the award was spent, but there is no expectation of repayment. This is an important point to emphasize because it is a MAJOR red flag if you are awarded a scholarship or grant that demands repayment. Legitimate scholarships and grants also do not ask for application fees or processing fees, so any “opportunity” that requires you to pay to submit your application is most likely a scam.
Student loans are different because you DO have to pay them back. Like scholarships and grants, you do not need to pay anything to apply for a student loan. Federal student loans have fixed interest rates which last for the life of the loan.
How To Get Started
If you’re new to financial aid, talk to the financial aid office. They can help walk you through the process. Once you’re admitted to the college, you should register for a Federal Student Aid ID (FSA ID). Your FSA ID is used to apply for federal student aid and to access your FSA records online. If you are a dependent student, your parents/guardians will also need an FSA ID. To get your FSA, you'll need to have your own email address and Social Security number. You can register for your FSA ID here.
Once you have your FSA ID sorted out, you’re ready for the critical next step: applying for FAFSA.
What You Need To Know About FAFSA
FAFSA stands for the Free Application for Federal Student Aid. If you’re thinking of applying for a student loan, getting your FAFSA sorted out is absolutely crucial— you can’t apply for a loan without it. Many scholarships and grants do not require a FAFSA, but it is good practice to update your FAFSA on an annual basis while you’re in school.
To apply for your FAFSA, you’ll need the following:
- Rio Salado College Federal School Code: 014483
- Driver's license number (if you have one)
- Alien Registration number (if you're not a U.S. citizen)
- Federal tax return and W-2 information
If you are married, you will also need to include the following:
- Spouse's federal tax return and W-2 information
- Spouse's records of untaxed income
If you're a dependent, provide your parents' information including:
- Social Security numbers
- Alien Registration Numbers (if applicable)
- Federal Income Tax Returns and W-2s
- Records of untaxed income
- Your parents will also need to obtain an FSA ID and sign the FAFSA form
You don’t need to include any existing financial aid, retirement plans, pension funds, annuities, noneducation IRAs, Keogh plans, etc. as part of your financial information.
You can check the status of your 2027-2028 FAFSA application on this page. The FAFSA form must be submitted by 11:59 p.m. Central time (CT) on June 30, 2028. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 12, 2028.
Do I Need To Re-Apply For FAFSA?
Financial aid is adjusted from year to year, based in part on changes in your financial status. If you’re still attending school after your 2027-2028 FAFSA ends, you’ll need to apply again if you want to continue receiving financial aid.
Keep in mind that some schools and states have limited amounts of financial aid available and award it on a first-come, first-serve basis, so it’s in your best interest to apply ASAP for your FAFSA. You can’t apply for aid without an updated FAFSA; you need to have it WHEN you apply.
Another reason to apply early for FAFSA is that the amount of financial aid available to you can change, so the sooner you apply, the sooner you’ll know how much you’re eligible for. Having that information as early as possible will make it easier for you to plan out your payment strategy. Do you need to get additional scholarships and grants? Pursue loans elsewhere? Have enough savings to make up what aid can’t cover? You need to know what you can get before you can answer these other questions.
We’re Here To Help
Want to learn more about financial aid? You can call our financial aid office at 480-731-8900 or schedule a chat with our Live Support Team. The financial aid office is open from Monday through Friday, 8 a.m. to 5 p.m.