Tips on Filling Out Your FAFSA

The first time you ever go to fill about FAFSA you could feel a bit overwhelmed with all of the information that you will need to provide.  Although it can be tricky if you keep these tips in mind you shouldn’t have any problems when filling it out.

First of all you need to have all of the proper information handy so you know what to fill out where.  You will need your Social Security Number, driver’s license, income tax returns (for you only if independent, for you and your parents if you are dependent), bank statements, and any investment records.  If you are doing the online worksheet (which I highly recommend) you will also need a PIN to sign your form electronically. 

Also you need to check on the deadlines for your school.  It is always best to apply as soon as possible beginning January 1st of each year you need aid.  Most schools have priority deadlines in early February for financial aid, so make sure you take care of this as soon as possible. 

Make sure you read each question very carefully.  The worst thing you could do is speed through a part of the application and in return not be awarded the financial aid you would have otherwise received.  Just to note, anytime you see the words you or yours that is always referring to you the student, not your parents. 

If your parents are divorced, the financial information required on the form is that of the parent whom you have lived with the most over the last 12 months, this does not necessarily mean the parent who has legal custody.  If your parents are remarried then the parent’s new spouse (of whom you live with the most) must report their income and assets on FAFSA. 

If you are a dependent then your parents or someone else provides more than half of your financial support which includes all necessities and even gifts.  Otherwise you are considered independent.
If you answer yes to having an interest in certain kinds of aid including loans does not mean you have to accept them.  If you say no, it does not mean you will get more grant money either, so if you think you might need to take out a little bit of loan money then say yes.

Once you have completed the form make sure you sign all places that require a signature, if you parents need to sign then make sure they do.  You need to have an extra copy of the form for your personal records, if you are online you can just print one out.  And last but certainly not least submit the form on time!

If you have any questions about the FAFSA application process then shout back at us.  We are always here to help you meet your financial goals.