The FAFSA: It's Critical!

The Free Application for Federal Student Aid (FAFSA), www.fafsa.ed.gov, is the form used by the federal government, states, and colleges to decide how much financial aid a student will need. Some colleges may require financial information in addition to the FAFSA.

The FAFSA is the most important document you will submit to get financial aid. Be careful and methodical in completing it!

Steps to completing the FAFSA

1. Start early and be aware of deadlines. The FAFSA depends on income tax records, so it's difficult to complete before January 1 of the year in which you plan to start college. But you can begin as soon as you have tax records for the previous year. Some colleges require financial aid applications in March; others have later deadlines. Find out what they are for your school. But remember that some colleges have a limited amount of money to distribute, and often the first eligible applications to arrive in the office are the ones to get it. The last day you can officially submit a FAFSA is June 30. But try to get it as early as possible.
2. Collect information and documents. To fill out the FAFSA, you will need:
   • Your Social Security number
   • Your driver's license, if you have one
   • Completed income tax forms, for yourself (if any) and your parents
   • Records of untaxed income to you or your parents, including, social security, temporary assistance to needy families, welfare, and veterans' benefits
   • Current bank statements for yourself and your parents
   • Current business and investment mortgage information, business and farm records, investment records (if any) for yourself and your parents.
   • If you're not a U.S. citizen, your alien registration or permanent residence card
3. Download a FAFSA worksheet from the website and fill it out. Read all the directions carefully. If you're confused, ask for help from a financial aid counselor. The worksheet will help you collect all the information you'll need before you fill in the FAFSA officially.
4. The FAFSA has to be officially signed by you and your parents if you are a dependent. You can do that by getting an electronic PIN number, or by sending in a signature page through the mail. The PIN number is easier for most people, and directions for getting it are on the website.
5. Complete the official FAFSA online. Read and follow all the directions; give yourself plenty of time.
   

Student Aid Report

Within a week or two after you submit the FAFSA, you will be sent the results, called a Student Aid Report (SAR), by e-mail or regular mail at your request. The SAR will tell you the amount of what's known as your Expected Family Contribution (EFC). This is the amount that your college will be told they can fairly expect your family to pay toward your college costs. Review the report carefully to be sure it's accurate; if it's not, you can submit a revised FAFSA.

If you think the EFC isn't right, perhaps because your family has an unusual financial situation not reflected on the FAFSA, or because your income dropped after you submitted the form, you can give that information to the college or university. Financial aid officers will discuss your situation with you and make whatever adjustments possible.