| Applying for financial aid can be a challenge and many | | | | Parents can even "talk" live online with a customer |
| parents delay the process as long as they can. | | | | service representative if they have questions. You |
| Some think they need to wait until their taxes have | | | | can also get additional assistance by calling (800) |
| been filed, when in fact an estimate based on your | | | | 4-FED-AID or going to the FAFSA website at |
| previous year’s taxes is completely acceptable. | | | | Applications are accepted beginning in January for |
| Sometimes parents feel embarrassed to apply for | | | | the fall semester. |
| financial aid, even in this uncertain economy. Too | | | | Parents need to avoid making mistakes on the |
| many parents do not apply for financial aid because | | | | FAFSA form because this will only delay the |
| they do not believe they will qualify. Never make | | | | application from being processed. Some common |
| this assumption. The easiest way to lose out on | | | | mistakes that parents make include the following: |
| available financial aid is to not apply for it. | | | | 1. Not listing all of the colleges to which your |
| FAFSA stands for Free Application for Federal | | | | student is applying |
| Student Aid and is the main form used to determine | | | | 2. Writing in incorrect tax amounts |
| eligibility for federal aid, including Pell Grants and | | | | 3. Not updating your information once your taxes |
| student loans. The majority of parents fill out the | | | | are filed |
| FAFSA application online. It is the first step to getting | | | | 4. Leaving a question blank |
| financial assistance for college. Many student | | | | 5. Not signing the FAFSA form |
| financial aid programs are on a first come, first | | | | Most colleges and universities start sending out |
| served basis. The FAFSA is the critical connection | | | | admission acceptance letters between January and |
| between you and your student’s future financial | | | | April. Financial-aid award notices come close behind. |
| aid package. | | | | Expect a financial-aid award letter to arrive within |
| The key is to complete the entire FAFSA financial aid | | | | two to three weeks after an acceptance letter. If |
| application and file it no later than the specific | | | | you have not heard from a school, it is appropriate |
| deadlines set by colleges and states. If you are | | | | to contact the financial aid office and inquire about |
| unsure about an answer, wait to submit the form; if | | | | your financial aid package and when you can plan on |
| the answer is zero, put a "0" on the line. File your | | | | receiving it. |
| taxes as early as possible because it is helpful to | | | | You cannot expect financial aid if you never apply. |
| have that information available. Otherwise, you can | | | | Many parents are overwhelmed just thinking about |
| estimate the amounts from previous years and | | | | college and wondering how they will afford it. For |
| correct the amounts on the form later at the | | | | other families, our tough economy has changed the |
| corrections page on the FAFSA website. | | | | financial situation and security they once had. There is |
| FAFSA deadlines include federal, state, and college | | | | still time for parents to go to the FAFSA website |
| deadlines. Any outside scholarships you apply for may | | | | and apply. Give your student the opportunity to |
| also have a FAFSA requirement and deadline. FAFSA | | | | receive the financial aid you need to make attending |
| deadlines vary from state to state and from school | | | | college affordable. Who get financial aid? Only |
| to school. Some deadlines are as early as | | | | parents who apply for it. |
| mid-January, while others are later. | | | | |