In fact, right now is the peak application period, according to the U.S. Education Department, the largest source of financial help for college. U.S. Education Secretary Richard W. Riley notes that many families don't apply because they incorrectly believe that either they make too much money to qualify for aid or that they can't afford to go to college. A I always encourage families to apply for financial assistance because they may be surprised at the aid available to pursue their education goals, whether for career training or a bachelor's or graduate degree. At a minimum, almost all students are eligible for loans without a federal interest subsidy but often with rates lower than commercially available loans. Students are also encouraged to talk to the financial aid directors at the schools they hope to attend to learn about financial aid packages and other sources of assistance.
Electronic filing is faster, less error-prone.
An estimated 12 to 14 percent of paper applications are returned for errors, adding time to the application process. By filing electronically, students can avoid delays. These credits will be able to be claimed by eligible taxpayers when they file their 1998 tax returns. President Clinton has also proposed several improvements to current law to simplify the aid application process and promote fairness and savings.