How to Get Financial Aid for College
Apply for a FAFSA as soon as you can., Locate the FAFSA form., Gather the information you'll need to complete the form., Create an FSA ID., Fill in the schools you are interested in., Enter the highest level of education that your parents...
Step-by-Step Guide
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Step 1: Apply for a FAFSA as soon as you can.
Filling out the Free Application for Federal Student Aid, or FAFSA, is the first task to complete to see about getting free money for school.
The FAFSA application is available online from October 1st each year.
Be sure to fill it out as early as you can.
Applying early will ensure that you can get the maximum amount of aid.
FAFSA forms cover federal aid and state-specific aid, so there are several deadlines you need to keep in mind:
Make your school deadline.
Check with your schools of choice and ask when they need your FAFSA form.
This information will probably be available on their Office of Financial Aid website.
If it isn't, you can call.
Find out your state deadline.
Apply early enough to make your state's cut off in order to receive state-specific grants.
This can be found here: https://fafsa.gov/deadlines.htm The federal deadline isn't until the school year starts, around June 30th, so it shouldn't affect you.
You can apply for your FAFSA before you are admitted by a college.
However, you won't actually be awarded the money until after you are accepted. -
Step 2: Locate the FAFSA form.
The application will ask for information about your education, your plans for college, and your and your parents’ finances.
Filing your FAFSA will determine your eligibility for a number of grants, scholarships, or loans.
Go here to complete this application: http://www.fafsa.ed.gov Fill this out with the help of your parent or guardian if possible. , If your parents or guardians are helping you pay for college, you'll need their information as well as your own.
Ask them for help if they are available to help you.
You'll need:
Your social Security number Your alien registration number (if you are not a citizen) Your parent's social security numbers (if they are helping you pay for college) Your driver's license (if you have one) Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married), and for your parents if they are helping you pay for college.
Forms might include:
IRS 1040, 1040A, 1040EZ Foreign tax return and/or tax returns for Puerto Rico, Guam, American Samoa, the U.S.
Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau , Make a username and password combination so you can sign in and out of your FAFSA application.
Make sure to record your username and password once you have made them.
You can create your ID here: https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid , List all the schools to which you are applying.
For federal aid, the order doesn't matter.
However, some states require you to list schools in a particular order so you can receive state aid.
Find your state here: https://studentaid.ed.gov/sa/fafsa/filling-out/school-list#order Many states require you to list a state school first in order to be considered for state aid.
Some states recommend that you list your top choice college first.
However, if your preference changes you can update your application to reflect this. , Questions 24 and 25 on the FAFSA ask about your parents’ level of education.
Be sure that, if your parents only completed some college, you select “High School” as the highest level of education completed.
Some states award extra aid to children whose parents did not complete college., The FAFSA will ask you how much money you and your parents have at the moment you are applying.
The amount of free aid you receive is based on those numbers.
If you have unpaid credit card bills, car payments, or any other expenses that you know you’ll be paying off soon, pay them before you apply.
This can help increase the amount of aid you receive., If you or your parents have investments, this may lower the amount of federal funding you receive.
Know what to exclude from your declared "Investments," and consider moving money around if you have the option.
Do not include assets paid into a home or retirement account.
Money that you have in retirement accounts or that is invested in a home does not need to be listed as “investments” on your FAFSA.
If you or your parents have money in a non-retirement account, consider putting it into a Roth IRA account or making a payment toward your mortgage.
That way, the money can legally be excluded from your FAFSA, which can make you eligible for more free aid. -
Step 3: Gather the information you'll need to complete the form.
-
Step 4: Create an FSA ID.
-
Step 5: Fill in the schools you are interested in.
-
Step 6: Enter the highest level of education that your parents completed.
-
Step 7: Pay your bills before applying.
-
Step 8: Manage investments.
Detailed Guide
Filling out the Free Application for Federal Student Aid, or FAFSA, is the first task to complete to see about getting free money for school.
The FAFSA application is available online from October 1st each year.
Be sure to fill it out as early as you can.
Applying early will ensure that you can get the maximum amount of aid.
FAFSA forms cover federal aid and state-specific aid, so there are several deadlines you need to keep in mind:
Make your school deadline.
Check with your schools of choice and ask when they need your FAFSA form.
This information will probably be available on their Office of Financial Aid website.
If it isn't, you can call.
Find out your state deadline.
Apply early enough to make your state's cut off in order to receive state-specific grants.
This can be found here: https://fafsa.gov/deadlines.htm The federal deadline isn't until the school year starts, around June 30th, so it shouldn't affect you.
You can apply for your FAFSA before you are admitted by a college.
However, you won't actually be awarded the money until after you are accepted.
The application will ask for information about your education, your plans for college, and your and your parents’ finances.
Filing your FAFSA will determine your eligibility for a number of grants, scholarships, or loans.
Go here to complete this application: http://www.fafsa.ed.gov Fill this out with the help of your parent or guardian if possible. , If your parents or guardians are helping you pay for college, you'll need their information as well as your own.
Ask them for help if they are available to help you.
You'll need:
Your social Security number Your alien registration number (if you are not a citizen) Your parent's social security numbers (if they are helping you pay for college) Your driver's license (if you have one) Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married), and for your parents if they are helping you pay for college.
Forms might include:
IRS 1040, 1040A, 1040EZ Foreign tax return and/or tax returns for Puerto Rico, Guam, American Samoa, the U.S.
Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau , Make a username and password combination so you can sign in and out of your FAFSA application.
Make sure to record your username and password once you have made them.
You can create your ID here: https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid , List all the schools to which you are applying.
For federal aid, the order doesn't matter.
However, some states require you to list schools in a particular order so you can receive state aid.
Find your state here: https://studentaid.ed.gov/sa/fafsa/filling-out/school-list#order Many states require you to list a state school first in order to be considered for state aid.
Some states recommend that you list your top choice college first.
However, if your preference changes you can update your application to reflect this. , Questions 24 and 25 on the FAFSA ask about your parents’ level of education.
Be sure that, if your parents only completed some college, you select “High School” as the highest level of education completed.
Some states award extra aid to children whose parents did not complete college., The FAFSA will ask you how much money you and your parents have at the moment you are applying.
The amount of free aid you receive is based on those numbers.
If you have unpaid credit card bills, car payments, or any other expenses that you know you’ll be paying off soon, pay them before you apply.
This can help increase the amount of aid you receive., If you or your parents have investments, this may lower the amount of federal funding you receive.
Know what to exclude from your declared "Investments," and consider moving money around if you have the option.
Do not include assets paid into a home or retirement account.
Money that you have in retirement accounts or that is invested in a home does not need to be listed as “investments” on your FAFSA.
If you or your parents have money in a non-retirement account, consider putting it into a Roth IRA account or making a payment toward your mortgage.
That way, the money can legally be excluded from your FAFSA, which can make you eligible for more free aid.
About the Author
Amanda Wilson
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