Healthcare Provider Update: Provides medical, dental, vision, life, and disability insurance, plus wellness programs and hybrid work flexibility 8. With ACA costs projected to rise, Viasats benefitsincluding mental health support and preventive careoffer a strong buffer against marketplace volatility. Click here to learn more
Most Viasat employees have already heard of the Free Application for Federal Student Aid, or FAFSA, if they or someone they know has plans to attend a college, career school, or university. Last year, around 70% of families submitted a FAFSA to the Department of Education to secure financial assistance. But what many prospective and current students may overlook are the various federal grants awarded to students in need each year.
Granted value
Most federal grants, unlike loans, function as sources of funding. There are some exceptions, though. For example, if a student is awarded a grant, but withdraws from the program in which they’re enrolled, they may be required to pay back all or a portion of that grant.
Know your grants
The Department of Education offers multiple aid packages as part of the Federal Student Grant Program and all Viasat employees should be aware of them. The following four are granted most often, and each has different requirements for eligibility. The information below applies to the 2023-2024 academic year:
- Federal Pell Grants - With a maximum award of $6,895, Pell Grants are reserved for undergraduate students who have exceptional financial need and have not earned a bachelor’s, graduate, or professional degree yet.
- Federal Supplemental Educational Opportunity Grants (FSEO) - FSEO Grants award a maximum of $4,000 to those who demonstrate exceptional need and have not yet earned a bachelor’s or graduate degree. FSEO Grants also give priority to Pell Grant recipients over other applicants.
- Iraq and Afghanistan Service Grants - These grants award a maximum of $6,895, and they’re only for students whose parent or guardian served in a branch of the U.S. Armed Forces and died while serving in Iraq or Afghanistan after the events of 9/11.
- Teacher Education Assistance for College and Higher Education (TEACH) Grants - TEACH Grants award a maximum of $4,000, and they’re reserved for students who are enrolled in teaching preparation programs and agree to teach for a minimum of 4 years at the elementary or secondary school level in a high-need field.
FAFSA Required
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No matter who you are or your financial situation, you may want to consider submitting a FAFSA. After all, the grants listed above do require recipients to have an application on file with the Department of Education. And who knows? The potential financial benefit that you as a Viasat employee could secure may surprise you.
- Finder.com, 2019
- StudentAid.gov, 2020
What is the Viasat 401(k) Savings Plan?
The Viasat 401(k) Savings Plan is a retirement savings plan that allows employees to save for their future by contributing a portion of their salary on a pre-tax or Roth (after-tax) basis.
How can I enroll in the Viasat 401(k) Savings Plan?
You can enroll in the Viasat 401(k) Savings Plan by accessing the employee benefits portal or contacting the HR department for guidance on the enrollment process.
What is the employer match for the Viasat 401(k) Savings Plan?
Viasat offers a competitive employer match for contributions made to the 401(k) Savings Plan, which helps employees maximize their retirement savings.
When can I start contributing to the Viasat 401(k) Savings Plan?
Employees at Viasat can start contributing to the 401(k) Savings Plan after completing their eligibility requirements, typically within the first few months of employment.
What are the contribution limits for the Viasat 401(k) Savings Plan?
The contribution limits for the Viasat 401(k) Savings Plan are set by the IRS and can change annually. Employees should check the latest guidelines to ensure they are within the limits.
Can I make changes to my contributions in the Viasat 401(k) Savings Plan?
Yes, Viasat allows employees to adjust their contribution amounts to the 401(k) Savings Plan at any time throughout the year.
What investment options are available in the Viasat 401(k) Savings Plan?
The Viasat 401(k) Savings Plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance and retirement goals.
Does Viasat offer financial education resources for 401(k) participants?
Yes, Viasat provides financial education resources and tools to help employees make informed decisions about their 401(k) Savings Plan investments.
How can I access my Viasat 401(k) account information?
Employees can access their Viasat 401(k) account information through the employee benefits portal or by contacting the plan administrator directly.
What happens to my Viasat 401(k) Savings Plan if I leave the company?
If you leave Viasat, you have several options for your 401(k) Savings Plan, including rolling it over to an IRA or a new employer's plan, cashing it out, or leaving it in the Viasat plan if eligible.
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