Financial Aid Awareness Month: History, Facts & Insights

This is an in-depth look at all the must-know facts about Financial Aid Awareness Month (2024) 🗓️ that no one tells you about. Financial Aid Awareness Month is celebrated on February 1st.

Among the information you’ll find below: the history of Financial Aid Awareness Month, activities to do on and how to observe this holiday, as well as fun facts you need know about Financial Aid Awareness Month.

📅 What day is Financial Aid Awareness Month 2024?

In 2024, Financial Aid Awareness Month is on Wednesday, February 1st. It is the 1st Wednesday in February; in 2024, it is Thursday. There are until the next observance. You also can see all fascinating details and facts about February 1, 2023, that you might not be aware of.

During the month of February, we observe Financial Aid Awareness Month to highlight the importance of understanding and accessing financial assistance for education. Many of us aspire to receive a formal education, but the burden of paying for school fees can be overwhelming. This is where financial aid steps in to help. Throughout the month, valuable information is shared to guide individuals in understanding the necessary processes and available options for obtaining financial assistance. Many educational institutions strongly encourage students to apply for FAFSA® (Free Application for Federal Student Aid) if they wish to pursue higher education after high school and are concerned about saving money. This month presents an excellent opportunity to learn more about the financial procedures of your college or university.

📜 Financial Aid Awareness Month History

Financial assistance has been around for a long time and was initially a way for the wealthy to help the poor in the 16th century. In the 1950s, institutions began receiving scholarship money and had to create their own criteria for distributing it. President Lyndon B. Johnson then passed the Economic Opportunity Act in 1964, which aimed to assist students in need of financial support for their education. This act introduced a college work-study program where schools paid for part-time jobs for students still in school. The following year, President Johnson signed the Higher Education Act of 1965, which made the federal government the main provider of financial assistance. However, this has also led to a complex process with numerous regulations. Despite the challenges, there are various options available for funding education, such as student loans, grants, work-study, tax credits, and state programs. Financial Help Awareness Month was established to provide students and families with essential information on accessing federal, state, and institutional student aid.

✅ Financial Aid Awareness Month Facts

🔖 You can calculate your loan online
Discover the extent of assistance available to you, which is determined by your family’s income level and your academic performance.

🔖 Sometimes it is free money
Grants and scholarships do not require repayment as long as you fulfill the specified requirements, unlike student loans.

🔖 Aid comes in different forms
It could potentially be financial aid for college, such as a grant from a college or assistance provided by the federal or state government, or even a scholarship.

👍 Why Is Financial Aid Awareness Month Important

Families and students learn about the many federal and state student assistance programs available, as well as how to apply for them. Do your part to raise awareness now.

Grants, loans, and aid are important, but this month also highlights interesting ways for students to save money by learning about student discounts. They can also learn about various strategies to save money while studying.

Many people have received financial assistance but lack adequate information and knowledge about what they signed up for. This is as good a time as any to learn about your current situation and make more comprehensive decisions about your future.

🙂 How To Observe Financial Aid Awareness Month

⚡ Complete the FAFSA

⚡ Share Information
I believe many of us have a family member or friend who desires to further their education but struggles with understanding how to obtain financial assistance. Now is a great opportunity to share any valuable information that can assist them in navigating the process.

⚡ Learn More
One of the benefits of completing the FAFSA® form is that it is free. So there’s no harm in giving it a shot. Filling it out will only assist you in assessing whether you are eligible for federal, state, or college financial aid programs.

📅 When is Financial Aid Awareness Month?

You can view all 🔗 February holidays, including 🔗 and other 🔗 Awareness holidays.

We will continue to update this page with new information and must-know facts about Financial Aid Awareness Month. So be sure to check back soon.