College Planning Tasks for Week: January 13

 

 

This series of entries will review college and graduate school planning steps

The US Department of Education’s FAFSA form will be required for all Federal Aid Programs and many scholarships. It is used by colleges to determine your financial aid eligibility.

The FAFSA form uses a methodology to calculate the cost of education at the school you are attending and the expected family contribution towards that cost. Your school will use the form to award what financial assistance you may need.

Preparing to Submit the FAFSA form:

Register for a PIN:
so that you can sign your FAFSA form and other loan documents electronically. It will speed up the process:
www.pin.ed.gov

Start gathering the required documentation:

• social security number
• driver’s license number (if any)
• W-2 Forms and other records of money earned
• income tax returns
• parent’s federal income tax returns (if you are a dependent student)
• untaxed income records
• bank statements
• business and investment mortgage information, business and farm records, stock, bond, and other investment records
• alien registration card (if you are not a U.S. citizen)

Find your school codes:
you will need this information so that your FAFSA filing can be sent to the schools of your choice. Again, the colleges use this information in designing a financial aid package to help pay the cost of college attendance.

View interactive worksheets:
you can use these worksheets to help prepare for the real submission
www.fafsa.ed.gov/worksheet.htm

Register for Selective Service (male students):
Young men that have reached age 18 must register with Selective Service before submitting the FAFSA form. This is required by law:
www.sss.gov

Submitting the FAFSA form:

(submit anytime from January 1)

Submit your FAFSA form as soon as possible. Don’t wait to hear whether you have been accepted or not by a college. You want the FAFSA form sent to the school so that they can assemble an award package as soon as you are accepted:

FAFSA online application (Department of Education):
www.fafsa.ed.gov/