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Applying for Federal Student Aid

For most students, applying for federal student aid to help pay for college is a necessary step.  Completing the application process is fairly time consuming and there are multiple steps involved (like getting an online PIN).  There is a free website (FAFSA) that is used by college students across the country to manage the application process.  You will be responsible for completing the application (not the college).  Once you have completed the FAFSA, the college will be able to use the information to find grants, work-study aid, state money, and (if available) private scholarships and grants on your behalf. At the FAFSA website you will find an online application and instructions on how to complete it. Some things to be aware of:

  • There is a deadline for processing the applications, and you will need to complete an application and meet the deadline each year that you attend college. For the 2007-2008 School Year, the system opens to receive applications on July 1, 2007.  It is a good idea to submit your application as close to July 1 as possible.
  • There may also be state funds that you qualify for, and the state funds may have a different application deadline – be sure you are clear about when all applications must be completed.  You can find out these dates by speaking with a financial counselor at the school where you have been accepted.
  • Some of the documents you will need to complete the FAFSA include: social security number, W2 form (if you work), latest income tax return (yours and your parents), bank statement, and documentation for stocks or other investments
  • The link to the Free Application for Federal Student Aid (FAFSA) website: http://www.fafsa.ed.gov/
  • Be sure to make a copy of anything that you mail or transmit and put it into a folder marked “financial aid”. This will simplify your completing the application the next year as some items will not change from one year to the next.
  • Caution:  There are a number of businesses that will offer to look over your application (they charge $75 and up) but you are perfectly able to do this on your own. It is a good idea to have a friend or family member go over the material with you to make sure you have answered all questions completely.