Filling Out a FAFSA

Students planning on attending college in fall may be able to get some help paying for their education from grants, student loans and work study programs. The easiest way to determine eligibility for these types of financial aid is to fill out a FAFSA (Free Application for Federal Student Aid). Students can either fill out a paper copy of this form or fill out and submit the form online.

There are a number tips students should be aware of before filling out a FAFSA.

1) Apply Early

Students planning on attending college in the fall of 2009 may fill out their FAFSA as early as January 1, 2009. The earlier a student files the better. There are a lot of students in need of financial aid and the earlier you apply the better your chances of getting grants.

2) Apply for a Pin

Having a federal student pin number allows you to sign your FAFSA electronically and saves you from having to mail it in. This allows for your application to be processed quickly and your PIN can be used indefinitely. You can apply for a federal PIN number here.

3) Gather All Necessary Documents

Students should have the following documents at hand before filling out a FAFSA:

Social Security number, Driver's License or ID card, 2008 W-2 forms and Federal Income Tax returns, your parents Federal Income Tax return if you are a dependent, 2008 untaxed income records, current bank statements, and your current business, mortgage and/or investment information.

4) Complete FAFSA Worksheet

Completing the FAFSA worksheet is important because it allows you to know exactly what information you need in order to fill out the actual FAFSA. Once the worksheet is filled out you will be able to take information from it and use it to fill out the FAFSA.

5) Know What Schools You Want to Attend

It is important to know what schools you are going to apply to when filling out a FAFSA. This information will be asked for and used to determine what aid you will receive.

6) Fill Out the Form

Once you have narrowed down the colleges you want to attend, gathered all necessary information and completed the FAFSA worksheet it is time to fill out the FAFSA itself. Make sure to fill out the form completely and triple check to make sure you have not missed any areas. Also make sure that you sign and date everywhere you are supposed to.

7) Decide if You Want to Participate in Work Study

Work study programs allow students to work a certain number of hours on campus tax free and is considered to be part of the student financial aid package. Work study is not required but is a good way to earn some extra money while in college.

8) Decide if You Want Student Loans

Students will be asked if they plan to take out a student loan. You should weigh the pros and cons of doing this and decide whether incurring the debt will be worth it in the long run.

9) Know Deadlines

Students cannot apply for student aid before January 1, 2009 and they cannot apply after June 30, 2009. It is important students remember these deadlines so that they do not miss out on aid.

10) Submit Form and Relax

The final step to filling out a FAFSA is to sign it online and submit it or to sign it and mail it in. After that students will have to wait for notification to see if they qualify for aid and how much. Though tough economic times cause many individuals to worry about how they are going to pay for college, most students in need have some, if not all of their tuition covered through grants.