what is fafsa?
The Free Application for Federal Student Aid, better known as the FAFSA, is a form you fill out to see if you qualify for grants (free money), work-study (part-time jobs), or loans (money you pay back later). It’s a crucial aspect you should complete before attending college and could change your future by greatly reducing your student loan debt.
1. Get an FSA ID
What it is: An FSA ID is a username and password you create at StudentAid.gov. You and your parent each need one.
Why you need it: It’s used to sign your FAFSA form electronically and to access your federal student aid information online.
2. Gather Your Stuff
Social Security Numbers: Yours and your parents’ (if you’re a dependent).
Driver’s License Number: If you have one.
Alien Registration Number: If you’re not a U.S. citizen.
Tax Returns: Yours and your parents’ tax returns from the previous year. If you didn’t file taxes, you might need W-2 forms or other records of money earned.
Records of Untaxed Income: Things like child support received, interest income, and veterans noneducation benefits.
Financial Info: Info on your cash, savings, and checking account balances, as well as any investments.
3. Start the Form
Where to go: Head to FAFSA.gov and click “Start A New FAFSA.”
Logging in: Use your FSA ID to log in and start the application.
4. Fill It Out
Personal Info: Basic stuff like your name, date of birth, and address.
School Info: List the schools you’re interested in attending. You can add up to 10 schools.
Financial Info: This is where you’ll enter the tax and financial info you gathered. The IRS Data Retrieval Tool can help transfer your tax info directly into the FAFSA form.
5. Sign and Submit
Signatures: You and your parent will sign the form using your FSA IDs.
Submit: Once everything is filled out and signed, hit submit. You’ll get a confirmation email to let you know it went through.
6. Check Your SAR
What it is: The Student Aid Report (SAR) is a summary of the info you provided on the FAFSA.
Why it’s important: Review it carefully to make sure everything is correct. If you find any mistakes, you can go back and fix them.
Extra Tips
Deadlines: Make sure you know the deadlines for the schools you’re applying to and for your state. Missing a deadline can mean missing out on aid.
Help: If you get stuck, there’s a help section on the FAFSA website, or you can ask your school counselor for assistance.
Conclusion:
Filling out the FAFSA can seem like a lot but taking it step-by-step makes it easier. Plus, it’s a big step towards getting money for college! Most high schools offer help when filling out the FAFSA. Timber Creek, for example, allocates counselors to help you through the process.
