6 things to know about filing fafsa
TRANSCRIPT
6Things to KnowAbout Filing FAFSA
(Free Application for Federal Student Aid)
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Gather neededmaterialsThe FAFSA form will require information from yourfederal tax return, untaxed income statements (1099,
child support, veteran's benefits, etc.), mortgageinformation, asset information (other property, etc.),
bank statements, investments statements, socialsecurity numbers for student and parent, and thestudent's driver's license number.
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Get a PIN for studentand one parent
If you plan to file the FAFSA online, you'll need aPersonal Identification Number (PIN), which is used toelectronically "sign" your completed form. The FAFSArequires signature of the student and one parent forsuccessful submission.
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Complete everyquestion on the formIt's vitally important for you to answer every question onthe FAFSA, including the questions that may not evenapply to you. In this case, enter a zero or N/A.
Any questions left blank will confuse the processor,which may cause delay in your application. Sincefederal aid is awarded on a first come, first served basis,you want to avoid any delays.
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Take control of your EFCThe FAFSA will calculate your Estimated FamilyContribution (EFC) toward your child's college costs. It'simportant that you understand how this number iscalculated and to manage your finances to reflect themost advantageous EFC. The form will consider some ofyour assets when calculating your EFC, but not others.Knowledge is power and could gain you thousandsmore dollars in federal aid for college.
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Keep copies of all forms filedWhether filing online or by mail, it's smart to keepcopies of all of the pages of the FAFSA that was filed.
The online application will provide you withopportunity to make copies of the form beforesubmission. If you mail your FAFSA, get deliveryconfirmation from your mailing service. Although rare,
there have been cases of lost FAFSA information.
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Submit FAFSA
as soon as possibleEach year, the new FAFSA application is released thefirst of January. Since federal aid for college is limited(yes, it will eventually run out) and is awarded on a firstcome, first served basis, it's smart to submit the FAFSAas early as possible. You don't have to wait until yourfederal tax return is complete to file FAFSA, as you canestimate your financial information and update later.Make a goal to submit FAFSA early!
Still unsure about FAFSA?Need to reduce your EFC?
"I've helped so many families with FAFSA, helpingreduce the EFC and complete some of the moreconfusing questions. Correctly and efficientlycompleting FAFSA can gain you thousands ofdollars more in financial aid for college. Let's have a conversation!"