As students prepare for the exciting journey of attending college, one of the most important steps you’ll take is filling out the Free Application for Federal Student Aid, or FAFSA. This form is your ticket to accessing crucial financial support for your education, including federal grants, work-study opportunities, and low-interest loans. The earlier you complete your FAFSA, the better your chances of receiving aid, as many programs are limited and awarded on a first-come, first-served basis. This year, the application appears as if it will be fully live by December (instead of in the fall). Let’s break down how to get started!
How to Apply for FAFSA
Before you dive into the FAFSA, gather all the necessary documents. This includes your driver’s license, Social Security number, and your FSA ID. With the FUTURE Act Direct Data Exchange (FA-DDX) (replacing the previous IRS Data Retrieval tool), a lot of information will be pulled from your family’s federal tax returns. But, it’s important to be able to double check every number and ID provided. If there’s untaxed income in your household or other assets, you’ll want to have the numbers ready for those components. Once you have everything in order, head to the FAFSA website, where you can create an account and fill out the application. Take your time, double-check your information, and don’t hesitate to ask for help if you need it! Mistakes cost time and money when it comes to the FAFSA, so always double check your work to ensure that nothing is wrong.
Review everything you’ll want to have on hand to file your FAFSA application here!
Don’t forget to have a list of the schools you want to send your FAFSA to onhand. You can submit it to up to 10 colleges at once, so have your list of top schools ready to go!
Understanding Your Financial Aid Package
Once you submit your FAFSA, you’ll receive a Student Aid Report (SAR) summarizing your information. This report is crucial because it helps schools determine your financial aid eligibility. Be sure to review it carefully and make any necessary corrections. After your schools process your FAFSA, you’ll receive financial aid offers that detail the types and amounts of aid available to you. Take the time to compare these offers and consider factors like grants (which you don’t have to pay back), loans (which you do), and work-study positions. This will help you make informed decisions about your education funding.
Remember, the FAFSA process can feel overwhelming, but you’re not alone! Your school’s financial aid office is there to assist you (and so am I!), so don’t hesitate to reach out with questions. By taking these steps and staying organized, you can unlock the financial resources you need to make your college dreams a reality.
More about Jodi and College Financial Aid Advisors
Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.