Applying for Student Aid - FAFSA
Filling out the FAFSA should be a students first step in securing financial aid. This article discusses what the FAFSA is and how to apply for student aid.
FAFSA stands for Free Application for Federal Student Aid. According to those at College Board, www.collegeboard.com, FAFSA is the financial aid application form you’ll use in applying for work-study programs and federal and state student grants and/or loans.
How to get FAFSA Applications
You can choose to fill out a paper application or an electronic application. The electronic-version, found at FAFSA on the Web, www.fafsa.ed.gov, has become increasingly popular because applicants can submit and track their applications online. Those at College Board also report that filing an application online reduces the process time by 1-2 weeks. You should only complete the FAFSA application through the government’s official website.
If you don’t have access to the electronic application, you can find the paper application at your high school’s counseling center or career center. You can also find the paper application at local libraries and financial aid offices at local colleges.
Information You’ll Need to Complete the FAFSA
Unless you’re completely independent, you will be using your parents’ income tax information. Their income tax information will be one factor considered by those processing the application to determine the type and amount of financial aid you can receive.
Here is the list of specific documents that are needed. (Source: FAFSA on the Web, www.fafsa.ed.gov)
- Social Security Number (The number issued on a social security card.)
- Driver’s License
- Most Current W-2 Forms and Other Financial Records of Money Earned
- Most Current Federal Income Tax Return
- Most Current Untaxed Income Records
- Most Recent Bank Statements
- Most Recent Business and Investment Mortgage Information
- Alien Registration Number or Permanent Residence Card (If you’re not a U.S. Citizen.)
When Should You Fill Out the FAFSA?
When you fill out your FAFSA application, the financial aid you receive will be for the academic year for which you applied. You need to apply each year until you are finished with college or until you no longer need financial aid. For state FAFSA application deadlines, check with FAFSA on the Web for your state’s deadline dates because they vary depending upon the state you reside in.
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