University of Virginia

FAFSA for North Carolina Residents

The North Carolina General Assembly made significant changes in how the state of North Carolina awards state financial aid.  A single, new need-based scholarship will replace a number of old scholarship and grant programs.  Eligibility for this new scholarship will be based on the results of the FAFSA.  But here is the biggest takeaway: 

The new scholarship will be awarded first-come, first-served. That means you want to get your FAFSA in immediately if you expect to qualify for aid from the new program.  Students who are legal residents of North Carolina with EFCs of $15,000 or less and who meet the eligibility of the Pell Grant Program will be eligible.  Check with your school’s financial aid office for more details.  If you are unsure, call their office, this news is so new that many websites are not yet updated with current information.

This is only true for North Carolina residents.  Virginia residents can continue to observe priority deadlines of specific colleges and scholarship programs.  Always check the deadlines, and file sooner rather than later.  You can file the FAFSA without waiting for your 2011 tax return to be completed.  You do this by using estimated information and making corrections when the return is done.