Wednesday, December 29, 2010

FAFSA Online Now!

New Year's Eve is fast approaching and most of you are actively making plans for what to do on that momentous evening. However, if you are a high school senior or parent of a high school senior, don't forget to plan for another important event as well: submitting your FAFSA. When you wake up on January 1st from your late night of age-appropriate carousing <ahem> and you're done watching the Rose Parade, set aside a little time to get this process rolling. Procrastination too often leads to loss of money when it comes to financial aid so don't risk it.

Perhaps you started looking at the FAFSA website back a few months ago because you're the kind of person who likes to be ahead of the game.  That's great!!  However, about two weeks ago they changed the appearance of the site so don't panic when you go back.

Here are some other valuable links to help streamline your submission process:
  • Don't forget, you have to apply for an electronic PIN first (separate ones for parents and students)  This can be done now.
  • A list of FAFSA deadlines by state is here.
  • Download a PDF version of the FAFSA here.  This could be useful as a worksheet, or if you don't have access to a fafsa.ed.gov-compatible browser on your internet.  (A list of compatible browsers can be found here.)
  • Check out this glossary of financial aid-related terms if you're not sure what something means.
  • Click here if you want to estimate your Expected Family Contribution (which will be the same no matter which school your attend) before or after submitting the FAFSA.
Remember that the government expects most people to be estimating based on their 2009 tax information, unless you are filing after March or April, so don't worry about taking this option.  

The sooner you get your form submitted, the sooner you will receive your Student Aid Report and the sooner your prospective colleges can begin sending you their school-specific financial aid offers!  What could be a better New Year's present to yourself than free money??

For a much more in-depth explanation of the FAFSA process, please refer to my December 10th post.


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