Renew Your FAFSA Yearly to Keep from Losing Funds

Renewing FAFSA (Free application for federal student aid) can be done by mail or online.

The amount of money available for FAFSA is limited and available on a first come, first serve basis, so applying on-line is strongly encouraged, as it is quicker and more accurate than filing printable forms.

Before filling out the on-line FAFSA application, applicants need to have a FAFSA pin number. All FAFSA applications filed on line require an electronic signature, which requires a FAFSA pin number. This pin number is a four digit number that is used for an electronic signature, as well as gaining access to FAFSA records (to check status of application, etc., get a new pin number if lost, etc.) To obtain a pin number visit the FAFSA pin website at www.pin.ed.gov

Filling out a FAFSA application can take an hour or more. Save time when filling out the forms by having the necessary information available. Information needed to fill out the FAFSA application includes: Social security number, driver's license, student income tax return, as well as parent's tax returns, bank statements, investment statements, W2's, etc.

Visit the FAFSA website at www.fafsaonline.com to renew a FAFSA application. There is a link on the left hand side of the page for a renewal application. Before filling out the form, be sure to check the deadline for both the federal aid as well as state deadlines. These are listed on the main page. Deadlines are strictly enforced, any applications submitted after the deadline are disqualified. Check with your school also to see what their deadline is.

For questions about filling out the forms, the FAFSA website has some an excellent Form Help, as well as FAFSA web work sheets that can be printed off and used as practice sheets to help you get familiar with the information needed. There is also a student eligibility work sheet available.

The FAFSA application does not have to be completed all at once. It can be saved and will be held online for 45 days to allow you additional time to complete it. After 45 days or after the deadline date, the application will be erased.

When filling out the FAFSA renewal form, the Form Help offers a line by line explanation if needed. After filling out the form, use the pin number assigned to electronically sign the FAFSA application and then submit it online. Be sure to print the confirmation page showing the date and time the application was submitted. You can also have a copy of the confirmation page e-mailed to you.

Whether filling out a FAFSA application for the first time or renewing a FAFSA, it is extremely important to double check its accuracy. Questions left blank and errors can disqualify the application. To increase your chance of having your FAFSA application approved, be sure to double check the entire form and file early, after a tax return has been filed and as soon after January 01 as possible. Check the financial aid secrets link on the FAFSA home page for more success tips!

Sources:
www.fafsaonline.com
www.fafsa.gov