Applying for financial aid can be as daunting of a task as applying for college, but the benefit of doing so can end up saving you thousands of dollars. Fortunately, you can now apply online, making the process a little more hassle-free and reducing the mess of paperwork.
Begin by finding out what the deadlines for application are. Since some come as early as January, be sure to check well in advance so as not to miss the cutoff date. Deadlines for corresponding semesters are available at www.fafsa.ed.gov.
You can electronically submit the Free Application for Federal Student Aid (FAFSA), also available at www.fafsa.ed.gov. Before you begin, gather together all documentation and information you will need to fill out the form. You will need to provide information on your high school, higher education plans and potential colleges, and financial information on yourself and family. You will also be required to provide general information such as your birth date, name, address, and social security number. A little organization will go a long way in making the process faster and smoother.
Before you begin filling out your FAFSA, you will be required to create a PIN number and password. Once you have received email confirmation of these, you will be permitted to begin. Keep a copy of your FAFSA PIN number and password in a safe place since you will need to resubmit the FAFSA at the beginning of each academic year.
As you fill out your FAFSA, be careful to read all the instructions carefully to avoid losing any data and having to restart the process from the beginning. Fortunately, if you realize you need to make corrections to a completed FAFSA, the option to do so is available. When you have completed and submitted your application for financial aid, print out any confirmation information that is provided as well as a copy of the application itself. Having a hard copy of the application will make it easy the next time you apply.
Once the FAFSA has been processed, results will be sent to you and the schools to which you have applied. Results will also be available for you to view online at your convenience. You will be informed of how much you are eligible to receive in awards and grants, as well as how much you are personally responsible for paying. This information will help you prepare a budget and financial plan to fund your continuing academic career.
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