Tips for Preparing to Complete a FAFSA

It is natural for a senior in high school to be stressed about their future. You need to make some crucial decisions about your future, such as which college you want to attend, but you must also worry about the financial burden it will put on yourself and your parents. There is some relief however. The U.S. government offers a program called FAFSA, which offers students financial aid based on their needs.

What is FAFSA? FAFSA stands for Free Application for Federal Student Aid. It basically is a form students need to fill out annually (not only incoming freshmen) to help determine how much money you can receive towards your education from the government. You can begin filling one out online at http://www.fafsa.ed.gov/.

Do Only Freshmen Complete This Form? No! All students need to fill out the FAFSA form. You need to complete a new one every year if you want to receive any kind of financial aid. Even if you aren't receiving any kind of federal aid, you will need to complete a FAFSA form for school scholarships, private scholarships, and just about any other forms of aid to be valid at your college.

Who Needs to Fill Out the Form? This form can be filled out by either the parent or the student. As an incoming freshman, I had filled the form out, and then let my father review the form for any errors.

What Do I Need to Complete the Form? You will need some financial information about yourself (if you work) and your parents. You will need to refer to the tax form (1040) for some of the more specific numbers the FAFSA form requires. You will also need a PIN code.

What is a PIN code? A PIN code is a code designated to everyone. You can apply for one by visiting the FAFSA website (http://www.fafsa.ed.gov), and applying for one. Although the PIN code isn't required, I highly recommend you get one since it'll save you a lot of time in the long run. You will need to enter the PIN code at the conclusion of the form, so don't forget. You can only view the PIN code once via the E-Mail you will receive from FAFSA, so make sure you remember the code. You will need to use the same PIN code every year, so make sure you write it down and keep it in a safe place. You will need a PIN code from both the student and a parent.

What Other Information Will I Need? You will need to fill you the basics (birthday, etc.) but you will also need to know the Social Security Number of both parents and yourself. They will NOT ask questions based on Race or any other discriminatory categories.

How Will My Selected Schools Receive My FAFSA Information? Keep in mind the schools you are interested in as you start the FAFSA form. They will have a section in which you have to select schools you want to send the FAFSA information to.

How Long Does it Take to Fill Out A FAFSA Form? I have filled out the FAFSA form 3 times, and it never has taken me over an hour to complete it. Make sure you apply for the PIN codes a few days before you plan on completing the form since it takes a day or two to receive the PIN code.

How Long Does it Take to Receive the Results From My FAFSA Form? It generally takes me a month or so to receive my FAFSA information through the mail. Just stay patient since your selected schools will receive an electronic copy of financial information as soon as you send it out.

When Do I Need To Fill the FAFSA Form Out By? You will need to fill the form out before June 30th, 2009 for the 2008-2009 school year and June 30th, 2010 for the 2009-2010. Be careful because most states have a due date CONSIDERABLY earlier. You need to visit the FAFSA website (http://www.fafsa.ed.gov/before003a.htm) in order to look up your state's deadline.

Filling out the FAFSA form isn't a hard task to accomplish and it will definitely be worth your time, regardless of your financial situation.

Source(s):

FAFSA - Free Application for Federal Student Aid. 06 Feb. 2009 .