Oh, hello there! Are you a high school student or a parent of one? If so, then you’ve probably heard of the FAFSA. For those who haven’t, the FAFSA stands for the Free Application for Federal Student Aid. It’s a form that students or their families fill out to determine eligibility for financial aid for college.
What Is The FAFSA?
As we mentioned earlier, the FAFSA is a form everyone should fill out if they want to go to college. The form is used to determine a student’s eligibility for financial aid. This aid can be in the form of grants, work-study programs, and loans. The form needs to be filled out every year a student attends college.
Why Is The FAFSA Important?
The FAFSA is important because it’s the gateway to financial aid. Without the FAFSA, students may miss out on critical funding they need to attend college. Financial aid can make a college education accessible to students who otherwise couldn’t afford it.
How To Fill Out The FAFSA
Filling out the FAFSA can seem intimidating, but it’s not as hard as it seems. You can fill it out online or on paper. We recommend filling it out online because it’s faster and easier to correct mistakes. You’ll need some basic information, including:
- Your Social Security number or Alien registration number if you’re not a citizen.
- Your driver’s license if you have one.
- Your tax returns and W-2 forms from the previous year.
- Your parent’s tax returns if you’re a dependent student.
Once you have your information together, start the application process. The form will ask you questions about your family’s income, assets, and other financial information. Don’t worry if you don’t have all of the information right away. You can save your progress and come back later.
When To Fill Out The FAFSA
You should fill out the FAFSA as soon as possible. The form becomes available on October 1st, and students should submit it by the priority deadline for their college or state. Some financial aid programs are first-come, first-served, so submitting the FAFSA early can be critical.
What Happens After You Submit The FAFSA?
After you submit the FAFSA, you’ll receive a Student Aid Report (SAR) in the mail or online. The SAR contains your Expected Family Contribution (EFC), which is the amount your family is expected to contribute to your college education. The SAR will also be sent to the colleges you listed on your FAFSA. The colleges will use your EFC to determine your eligibility for financial aid.
Conclusion
So, there you have it! The FAFSA may seem daunting, but it’s a critical step in the college application process. Remember, financial aid can make a college education accessible for those who otherwise couldn’t afford it. So, take advantage of the FAFSA and apply for financial aid. Good luck!
