From finding paperwork to crunching numbers, filing out forms to juggling deadlines, the financial aid application process can seem complicated and intimidating. We help you keep it simple with these Ten Tips.
Top 10 Tips
- Do not miss deadlines. Keep track of financial aid application requirements and deadlines with the Password Manager in MEFA’s Financial Aid Toolkit.
- If your taxes are not complete, you may estimate your income in order to meet the deadlines. Be as accurate as possible since your estimates will impact the initial award package you receive. You will be required to provide updated information later.
- Apply online if possible, to reduce errors and speed up the process.
- Remember, when the FAFSA asks for “your name” and “your Social Security Number” it is referring to the student, not the parent.
- When completing the FAFSA online, save your information as you go. This also allows you to start your FAFSA application and complete it at another time if necessary.
- If your family has multiple children in college, separate applications must be completed for each of them.
- Apply for your Federal PIN. Dependent students and a parent both need their own PIN to sign the FAFSA electronically. You can apply when completing the online application or apply now.
- If your family has special circumstances that affect your financial situation and your ability to pay for college, consider putting the details in writing and sharing them with the financial aid office at each school.
- Keep copies of everything you are asked to submit to the financial aid office, including tax forms, income and bank statements. Review the Financial Aid Checklist in MEFA’s Financial Aid Toolkit for a list of what else to keep in your financial aid file.
- Ask questions if you need help. Contact the college’s financial aid office for assistance in completing your forms.
Why use FAFSA on the Web instead of a paper FAFSA?
- It’s faster. Completing the FAFSA online and using your PIN can speed up the application process by as many as 14 days.*
- It’s easier. FAFSA on the Web may simplify your application based on your responses to certain questions, and you may be able to upload information from your tax return directly through the IRS Data Retrieval Tool.
- It reduces errors. The information you report is automatically reviewed for obvious and common errors before you submit your application.
*Source: www.fafsa.gov, 2009
