| What is
meant by the term “FAFSA”? What can it do for
you? Where can it be found? And when does it need to be completed?
The process of applying for financial aid inevitably begins
with the Free Application for Federal Student Aid –
or FAFSA, for short. The FAFSA application will determine
your eligibility for financial aid from the federal government–
including Pell Grants, Supplemental
Educational Opportunity Grants, Stafford
student loans, Perkins student
loans, and work-study programs.
Additionally, some colleges may require the FAFSA for Parent
PLUS and GradPLUS student
loans. To complete the FAFSA online, visit www.fafsa.ed.gov.
| FAFSA
Deadline Information And Requirements |
 |
You must fill out a new FAFSA form
for each year you plan to be enrolled in school. The best
time to apply for college financial
aid is between January 1 and March 1, since most schools
award student aid on a first-come, first-served basis. Once
you complete the FAFSA application, you will receive a Student
Aid Report (SAR), which will give you an opportunity to correct
previously reported “incorrect information” before
the form is sent from the Department of Education to your
school.
| Helpful
References For The FAFSA Form |
|
When you fill out the FAFSA financial aid form, it is helpful
to have the following forms and documents handy, because you
will need to refer to them and/or use them to provide specific
information:
- US Income Tax Returns (IRS Form 1040, 1040A, or 1040EZ)
for the fiscal year that just ended
- W-2 and 1099 forms for the fiscal year that just ended
- Records of untaxed income, such as Social Security benefits,
AFDC or ADC, child support, welfare, pensions, military
subsistence allowances, and veterans benefits
- Current bank statements and mortgage information
- Medical and dental expenses for the past year, which weren't
covered by health insurance
- Business and/or farm records
- Records of investments, such as stocks, bonds, and mutual
funds, as well as bank-issued Certificates of Deposit (CDs)
and recent statements from any money market accounts
- Social Security Numbers
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