HOT TIPS FOR COMPLETING YOUR FAFSA
FAFSA forms are generally available at your counseling or career
center in late November or in early December. Pick them up as soon
as possible so that you and your parents can become familiar with what is required.
Because you and your parents must provide income tax information
through December 31st, you cannot submit the FAFSA earlier
than January 1st. The submission period for sending
the FAFSA is from January 1st to March 2nd of each year for aid
for the following school year.
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Some colleges or programs may want your FAFSA to be submitted
at an earlier time. Check financial aid information
from each of your target colleges to determine when you should
be sending in this form! If you complete and
send the FAFSA as soon as possible after January 1st, it
can start the wheels turning more quickly as colleges begin to
determine how they will allocate financial aid packages. The colleges
use information provided by the government to decide how to disperse
federal funds made available to them. The sooner you submit your
FAFSA , the more likely you might be (if you are eligible) to
be awarded a share of that limited pool of aid.
The questions asked of your family on the FAFSA form covers information
the government needs in order to calculate your Expected Family
Contribution (EFC). Some of the basic questions
asked on the FAFSA include:
- Your parents' income for the 1996 tax year, including salary
and wages, pensions, dividends, interest, Aid to Families with
Dependent Children payments, unemployment payments, and Social
Security benefits.
- Your income for the 1996 tax year, including all of the sources
of income listed above.
- 1996 taxes for both you and your parents.
- Family assets and your assets, including checking account
balances, savings, stocks, bonds, real estate investments, business
ownership, corporate farms, and trusts. Home and farm equity are
not considered as assets for federal and state aid (generally).
Many independent colleges do consider home and farm equity as
assets in determining your EFC and will ask for this information
in supplemental forms such as the Financial Aid Profile (CSS/Financial Aid PROFILE).
Remember to check all of your target colleges to see if they require
the CSS/Financial Aid PROFILE in addition to the FAFSA.
- Your parent's age and their need for a retirement income.
- The number of children and other dependents in the family
household.
- The number of family members in college.
- Your status as dependent (on parents) or independent student.
- BE AWARE that when your parents sign the FAFSA form, they
are stating that the information contained in that form is accurate
and true! They are also agreeing that if asked, they will submit
proof of that information. This proof is generally copies of federal,
state and local income tax returns. If your parents decline to
provide this material, your application for aid can be denied.
Do not send these documents with the FAFSA. Many schools will
ask for these documents but they will let you know when they would
like them.
By following a series of simple steps parents should be able to
ensure that the FAFSA forms will be ready for evaluation by the
government processors. Parents, be aware of these tips!!
- Have all of your parent's financial records on hand before
you even think of starting on the form!
- Make sure that the name(s) used on the form match the name(s)
used on your social security card.
- Make a copy of the form that you can use as a worksheet to
fill in information as a test run.
- Read all instructions carefully in order to avoid errors.
The form comes with detailed instructions for each question.
- After filling in the practice form, transfer all the data
onto the original using a # 2 pencil.
- Complete only those sections you are required to complete.
- Print neatly so that the application can be easily read.
- Do not cross out anything . If you make a mistake on the original,
make sure you erase completely.
- Round off dollar figures to the nearest dollar.
- Write in only the spaces provided.
- Don't include attachments on the FAFSA; they will be thrown
away. If there are any special circumstances about your family
situation, send a letter to each college financial aid office
to explain.
- Fill in every blank unless instructed to do otherwise. If
you or your parents leave a blank, the Federal Central Processor (FCP)
and the colleges may think the data has been mistakenly left out.
Enter a "0" or an "X" to indicate that the
question has been considered and no answer is appropriate.
- When writing dates, use numbers. (2/12/96 for example)
- Make sure you sign the forms.
- Double check all responses for accuracy.
- Make a copy of the completed form for your records.
- Send the original, completed form in the envelope provided.
Don't enclose anything else other than the application itself.
If there are special considerations about your family's financial
situation, you should submit a written explanation of those considerations
directly to the college financial aid offices!!
- Answer all questions about citizenship carefully. The FAFSA
is automatically sent to the U.S. Dept. of Education to
verify your citizenship.
LI>List all colleges and programs that you want
to receive information from your FAFSA form. You can add other
colleges later on through the Student Aid Report (SAR), but it
is easier to do it with the FAFSA if possible.
- Your FAFSA form is automatically
submitted to the federal government for Pell Grant consideration.
Be sure all information about finances is accurate and up to date
to ensure that your need will be correctly evaluated for a Pell grant.
Many state colleges you list to receive
the FAFSA analysis will also use your information in determining
if you qualify for state grants or aid.
- You and at least one parent or guardian must sign the FAFSA
form, otherwise it is considered invalid and it will not be processed!
- Keep a copy of your FAFSA form in your files. This first form
is only good for applying for federal aid for one year.. However,
the Federal Central Processor (FCP) will send you a new FAFSA form each
year which will have much of the original information preprinted
on it. You and your parents will only have to enter information
that has changed over the course of the year. Keep copies of all
FAFSA forms so you can refer to them as you fill out each subsequent
FAFSA form.
- When you mail your FAFSA form, be sure you get a certificate
of mailing from the Post Office as a receipt that proves you sent the forms by the deadline.
Where do I send the FAFSA form once it has been completed?
You will be sending your FAFSA off to the federal government Federal Central Processor (FCP). The Central Processor, a federal computing
center, calculates an initial estimate of your Expected Family
Contribution (EFC) for one academic year. They
use the "Federal Methodology" to perform
the need analysis and decide on your EFC. The EFC is the basis
for determining federal and state awards and college-based financial
aid. The Central Processor will send reports outlining your EFC
information to the colleges you designated on your FAFSA form
and to you.
After you submit your FAFSA, you simply need to wait for the Student Aid Report (SAR) that will be sent to
you by the Federal Central Processor (FCP). Usually, within 3-5 weeks
you will receive the SAR, documenting their evaluation and your EFC.
Yes. Just because your family has some resources for college does not mean that
you have no chance to qualify for federal, state or college-based
loans. Take the time to fill out the forms--it is worth the time
if you qualify for some form of aid! Qualifying for aid is dependant on a variety of circumstances:
family income, your income, and the actual costs of a
particular college you may be applying to. So, regardless of what
you think the outcome might be, let the Need Analysis Processor
and the Federal Central Processor (FCP) crunch the numbers and see
what happens! The worst that could happen is that you do not qualify
for federal need based aid. In any case, you will
have started the process of pursuing non-need based loans
and other options that could help defray the cost of college.
(Rosen, Rochelle, S. College in California: The Inside Track)
You can call the Processing center for FAFSA. To find out if your
FAFSA has been processed or to request a duplicate of your Student Aid Report (SAR),
call: 1 (319) 337-5665 or
for the hearing impaired
call: 1 (800) 730-8913
Another option would be to call the Federal Student Aid Information
Center.
Call: 1 (800) 433-3243
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