It’s for more than just Federal Financial Aid.
If you’re a parent of a high school student or an adult returning to college, make sure to complete the Free Application for Federal Student Aid form. It’s essential for determining federal Pell Grant eligibility, and more.
The FAFSA is also used by colleges and universities to help determine eligibility for state, local and institutional financial aid — basically, all financial aid decisions spring from the FAFSA.
In addition, the FAFSA provides applicants and their families with important information on college costs and completion outcomes.
Many families leave money on the table because they don’t bother to fill out the FAFSA.
Complete the FAFSA form as soon as possible - some states/schools run out of financial aid early. The 2020–21 FAFSA form dropped Oct. 1! Start now.
It’s free. Don’t get duped into paying a service to help you fill out the form.
My family is middle class. Should I still apply? Yes. There’s no income cap. And if you don’t apply, you won’t be able to get any financial aid. Use the White House College Scorecard or the online calculator that each college must post on its website to get an idea of how much financial aid you might receive.
Fill out the FAFSA every year. Tip: Choose to complete a “renewal form” for some info to be rolled over from last year.
The colleges that accept your enrollment apps will notify you of aid awards.
7 Things You Need to Fill Out FAFSA Forms
If you plan to go to college next year, you need to know about info you need for the nationwide financial aid form.
The Free Application for Federal Student Aid (FAFSA) is the form that every U.S. college student needs to fill out in order to be eligible for any need-based financial aid. That includes federal grants and loans, scholarships from the state and school, as well as college work-study jobs.
What You Need:
#1: Create an FSA ID if you don’t already have one for online registration at fafsa.gov.
#2 Your Social Security Number
#3 Your Drivers License Number, if you have one.
#4 Your 2018 tax records to apply for the 2020-2021 school year. Don’t use your 2019 taxes.
#5 Records of Your Untaxed Income - like child support, veterans’ noneducation benefits, and interest income.
#6 Records of Your Assets - like your savings and checking account balances, investments, real estate (not including your family residence) as of the date you sign the FAFSA form, not the date of your tax forms.
#7 List up to 10 Schools You’re Interested in Attending - even if you haven’t applied or been accepted. Your FAFSA results will be sent there.
More info can be found at https://blog.ed.gov/2019/09/7-things-need-fill-2020-21-fafsa-form.
These changes aim to make the whole financial aid process a bit easier for you, but it remains a tedious and sometimes confusing task.