RALEIGH -- There’s no question, college can be expensive, but thousands of dollars are available to students in North Carolina to help offset the cost of higher education.

The College Foundation of North Carolina surveyed high school counselors regarding the issues they found with FAFSA completion, or the Free Application for Federal Student Aid. They found that parents, of course, don’t want their kids to accrue debt, but unfortunately because they don’t believe they will qualify, the survey found many parents do not see the value in applying.

Spectrum News anchor Caroline Blair found out that’s not the case. Blair sat down with Michelle Hemmer, the Director of Financial Aid at William Peace University, for an In Depth look at the process of applying for financial aid.

Hemmer says the deadline to apply now depends on what institution you’re applying for. However, some schools like Peace, have rolling admissions, so they accept the form at any time.    

Another study found that North Carolina ranks 22^nd in the country in the percentage of seniors who have completed the form. Experts say students who aren’t sure if they’re going to seek a post secondary degree, often shy away from filling out a FAFSA form, but Hemmer says they should reconsider. She says it doesn’t hurt, and could only help once they make their final decision.

But Hemmer says it’s important to know your residency status before you can apply for financial aid.

Click here to check your status.