Federal loans enable millions of students to attend college, but there鈥檚 a catch. Funds often require long-term repayment, sometimes extending for decades. Applying for financial aid requires students to complete the Free Application for Federal Student Aid (FAFSA) form to determine eligibility.
番茄视频 (ACE) offers an affordable way to advance your career without the burden of federal loans. We don鈥檛 accept federal funding, allowing us to keep tuition costs low and allocate more funds toward student success. In fact, ACE hasn鈥檛 raised our tuition since 2016, nearly a decade ago.1
From types of financial aid to how to submit your FAFSA, this comprehensive guide will answer common questions and dive into ACE鈥檚 unique approach to affordable and accessible higher education.
What Is FAFSA?听
The FAFSA form, through the United States Department of Education, is an application for federal student aid. When you complete the FAFSA form, you鈥檙e providing your college or university鈥檚 financial aid office with a comprehensive summary of your personal financial standing. This information generates a Student Aid Index (SAI), which represents your level of financial need.
submit a FAFSA form each academic year, leading to more than $120 billion in federal student aid.
It鈥檚 common for undergraduate students and parents to fill it out together, as sometimes parental financial information is needed. The form is completely free and simply determines your eligibility for federal funding.
How FAFSA Works听
While each school鈥檚 financial aid office operates differently, the FAFSA process is the same no matter where you鈥檙e enrolling.
- Fill out the FAFSA form online as early as possible because sometimes state aid is limited. The form opens each fall for the upcoming academic year (the following fall).听
- You鈥檒l need to provide personal information, including:听
- Social security number or alien registration number听
- Driver鈥檚 license number (if applicable)听
- Federal income tax returns and W-2 forms听
- Record of any nontaxable income (welfare benefits, social security income or veteran鈥檚 benefits)听
- Current bank statements and records of investments (stocks, bonds, mutual funds, etc. 鈥� if applicable)听
- Parents鈥� income tax returns, W-2 forms and 1040 forms (if you鈥檙e a dependent student)听
- Parents鈥� assets (bank statements and investment records 鈥� if you鈥檙e a dependent student)听
- Additional financial information (scholarships, grants, assistantships 鈥� if applicable)听
- The information is compiled to calculate your SAI, which determines if you鈥檙e eligible for:听
- Federal Pell Grants: Funds that do not have to be repaid听
- Student loans: Borrowed funds that must be paid back听
- Federal work-study programs: A campus job where you earn money to pay your educational expenses听
- Your school will create a financial aid package for you based on your SAI.听
- If you鈥檙e applying for multiple schools, compare the different financial aid offers to choose what best supports your budget.听
FAQs About FAFSA听
Typically, it takes three to five days for online FAFSA applications to process. Paper applications take 7 to 10 days. Once your application is processed, you鈥檒l receive a FAFSA Submission Summary (also known as a Student Aid Report or SAR). This summary is a compilation of the information you provided, where you can review it and verify that it鈥檚 complete and accurate.听
Each year, the federal deadline to submit the FAFSA form is June 30. State and school deadlines, also referred to as priority deadlines, may vary. Applying by the priority deadline is of the utmost importance because it not only allows you to receive your offer in a timely manner, but it also gives you a stronger opportunity to get a more lucrative financial aid offer, as funds are limited.听
No. FAFSA is the application that determines federal aid eligibility and is completely free. However, if you鈥檙e eligible for federal aid, you may be required to pay it back.听
Federal Pell Grants: Funds that do not have to be repaid听
Student loans: Borrowed funds that must be paid back听
Federal work-study programs: A campus job where you earn money to pay your educational expenses听
Why ACE Doesn鈥檛 Use FAFSA听
ACE is a fully online college offering quality, affordable degree programs that allow 86% of ACE students to graduate without debt.2 Our affordability model is designed to give students a world-class education without the burden of federal student loans.
ACE doesn鈥檛 accept federal funding even though we鈥檙e eligible.
ACE intentionally decided not to accept federal funding because it allows us to keep program costs low, which results in greater accessibility to degree programs and more funds allocated to what students need. We don鈥檛 need to spend money on the operating costs necessary to participate in federal funding programs. Meanwhile, students are still welcome to leverage private loans, but it doesn鈥檛 change their tuition rates.
Since ACE doesn’t accept federal funding, students don鈥檛 need to fill out a FAFSA form to attend. Additional benefits include faster enrollment, less bureaucracy and, of course, no federal loan debt.
Alternatives to FAFSA at ACE听
Loans aside, ACE understands that earning a degree remains expensive, regardless of the tuition cost. That鈥檚 why we aim to lessen the financial burden even further through alternative avenues:
- Flexible payment options: Pay total program cost in full, pay per course or set up a monthly plan.听
- Scholarships and grants: ACE awards more than $1.2 million in scholarships and grants each year.听
- Employer tuition assistance: Many students leverage employer reimbursement funds.听
- Private scholarships and external funding sources听
Conclusion听
Every student deserves a quality education without the heavy burden of federal loans, no matter their budget. FAFSA provides you with information on the federal financial aid you qualify for, but it doesn鈥檛 commit you to loans that require repayment. At ACE, we鈥檙e committed to transforming higher education and ensuring our quality degree programs remain affordable with a conscious effort to minimize and alleviate unpayable debt.
Your degree program doesn鈥檛 have to break the bank. Explore more than 60 fully online, affordable programs at 番茄视频. For personalized guidance on paying for your ACE degree, call 800-280-0307 or email [email protected].
1Excludes RN to BSN
2Internal research completed in March 2025
