FAFSA

BACKGROUND
FAFSA  stands for “Free Application for Federal Student Aid.” Their website is a full tutorial and web-application facilitator. Its worksheets help you gather all pertinent information necessary for the application process. NOTE: These funds can be procured every year during your college tenure, but a new application must be filled out for each upcoming school year. The form is free. You should never have to pay anyone to help you fill out this form. There is “live help” available on the site.

First, of course, you will need both your social security and your parents, (if you qualify as a dependant). You will need your drivers license number, your previous year’s tax documents and verification of any untaxed income, such as Social Security.

After entering this general information, they will ask the type of degree you are seeking, what grade level you will be during the fall, and, what grade level your parents completed. Why do they need this information?  There is a special clause for first members in a family who obtain a degree. Specially-designated funds are available for the person who qualifies under these perimeters. If neither of your parents obtained a degree, please make note of that fact.

They will then ask extensive questions about your parent’s work status and income. This is to enable them to determine the amount of Expected Family Contribution monies your parents will provide. If you yourself have made any money, they want to know that, as well. This again, indicates your financial standing and will enable them to determine whether or not you are an “indigent” or “in need,” student. (Financial need is weighted against Expected Family Contribution).

The next situation they address is housing plans.  Will you live on campus?  Off campus?  With your parents? Haven you chosen your school?  (You can list up to ten schools on your FAFSA. If you decide against all ten, you can correct your application online).

Fill out the financial summary (a total from the completed areas), and you are done with this part of the form.

If you want to fill out the form on line, you can apply for an electronic PIN. This will serve as an electronic signature and a means to access the application online, to check approval status, etc. Many students fill out the form prior to choosing their college. Since January is the suggested date for the corresponding fall semester, this may be the best idea. Once you choose your school the school will ask that you provide them these forms. Many schools expect these documents by March 1 for the following school year. Filing online by January 1st will ensure they are ready to go.

PRO
– Completing these forms on line early, will ensure they are ready for school deadlines
– Tutorials help clear up any questions you might have
– Obtaining an electronic PIN enables you to access your form and the ability to make corrections

CON
– State forms are a separate entity. You should check with your school early to determine their perimeters
– If you have questions about completing this form, you will want to seek these answers from the “FAQS,” “Contact Us,” or “live help,” section

EXPENSE
There is no fee associated with this site.

DEGREE PROGRAMS
FAFSA funds may be applied to any degree program wherein the institution agrees.

SCHOOLS
Most schools accept FAFSA funds. There are, however a few exceptions and, it is wise to check with your school when seeking enrollment information.

STUDENT LIFE
Other than seeking housing information, this subject is not discussed.

CONCLUSION
FAFSA has long provided a web-driven application system, because the FAFSA form is the base for qualifying for a wide array of funding options. By filling this form out early-on, you can move forward with seeking additional funds from other sources.

Common Misspellings
FASFA, FASA, FAFAS, FAFSAY