FAFSA and You | 02.12.10
To open, I’d like to ask a simple question: Have you filed your FAFSA yet? If no, you should know that the FAFSA is one of the most valuable financial aid tools in a student’s arsenal (besides scholarships and grants, which are the best) because it shows the government and your school that you need money for college.
In the eyes of your future school, neglecting to file a FAFSA is equivalent to leaving a gigantic tip on on a small meal – you only do it because you don’t care, or money is no object. Depending on your level of need, there is potential to get a significant portion of your cost of attendance financed at attractive interest rates, and/or qualify for a Pell Grant, which you do not need to pay back. Also, the FAFSA applies to both undergraduate AND graduate students.
So why the urgency? “I read on the Government website that my FAFSA isn’t actually due until June 30, right?” — Technically yes, but the real answer is no. In the case of colleges and universities, the financial aid department of your school will actually set a separate financial aid deadline in order to give themselves enough time to put together everyone’s aid packages.
The bottom line: The longer you wait to file your FAFSA, the less chance you have of receiving an excellent financial aid package from your school. Also, be on the lookout for a separate school-only financial aid form – sometimes they require more than just the FAFSA to evaluate your need; you can contact your financial aid office to ask if there are more forms involved.
One last thing! Don’t forget to send your FAFSA to all the schools you applied to. When you are completing the application, there will be an option toward the end to add the receiving schools by school code… just make sure you get them all in there and you will be A-OK paperwork-wise when your school begins to review financial need.
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I filled out the FAFSA but my mother did not file a tax return. To qualify for the Pell Grant I was told I must fill out a form fromhttp://www.irs.gov. Problem is I have no clue what form to fill out. HELP!!
Hi Austin,
If your mother did not file her tax return and you are under 24 years old, then you won't be able to even complete the FAFSA application. Tax information for the previous year is required in order to determine your EFC and ultimately, figure out how much they can lend/award you in financial aid.
If you are under 24 years old, make sure she files an IRS 1040 or 1040EZ form as soon as possible. We are past the tax deadline now, but the sooner that form is submitted and accepted, the quicker you can get federal aid. There are tons of websites that help automate the process, including Turbotax and Taxslayer.com.
If you are 24 or older, you don't need her tax information for the FAFSA and can just go forward using your own financial information from last year.
I always apply for the FAFSA fairly early but my school application usually ends up taking life thus impacting my financial aid anyway
I applied for FAFSA and on my way to bigger, higher and better thing in life for me and hope and pray that everyone will apply. GOOD LUCK
can be difficult but in the end its all worth it
i wish i read this article before filling out my form
i already did mine
If you can't fill it out by yourself; you can go to the financial aid office at your school, and they will help you
F.A. F. S. A. Helps me ands other students to fulfill their College Dreams and It takes alot of stress off of you, worrying about how I am going to pay for my College Education, and books. Because if I was not elgible for F.A.F.S.A. I would have stop, because I could not afford to pay my semester turition for the next four years.
I applying hope all goes well. good luck everyone
Why is the Governor of each State taking over the Federal Grants monies in each State.
FAFSA !!! thanks for the reminder.
Cool! this was helpful! thanks for the information!
Oh, thank you for this information, I didn't know about FAFSA before
Luckily, I applied early this year.
The fafsa is a cool way to get money real quick
This is great! but i cant apply for a FAFSA
I applied for FAFSA, but how is that related to Pell Grants?
@ Jessie – When you apply for the FAFSA and submit your income information to the Department of Education, it also serves to qualify you for a range of grants. Basically, if your EFC is under $15,000 or so, you could potentially qualify for a Pell Grant that does not have to be repaid.
Pretty great program for low income individuals & families. Hope this answers your question
I did not do FAFSA, but I wish i did.
Hi Joy,
If you are still in school you can file your FAFSA late and potentially still get some federal funds towards your education.
to many questions
I filled out my FAFSA and and I received aid from the colleges that I applied to.
I already did my Fafsa, but I’ll be sure to send some of my friends this way.
do only seniors have to fill this out? Im a junior and dunno when i should send mine in..
Hi Michelle,
You would actually fill this out the Spring before your first semester in college. So if you were starting school in Fall 2011, you would wait until January 2011 to fill out the FAFSA.
Thanks for the great question
I applied for FAFSA and now I'm waiting for it…God bless me and others !!
I wasn't eligible to receive any money after filling out my FAFSA; however, it is a huge help to many people.
it's the best way to Go!