Five FAFSA Errors to Avoid
As of January 1, students can complete and file the Free Application for Federal Student Aid (FAFSA). The FAFSA is required in most cases if you are hoping to receive federal, state or institutional financial aid for college. The form can be a bit intimidating, and each year some applicants make costly mistakes that result in lost financial aid benefits. To help you avoid these FAFSA filing pitfalls, we have compiled a list of things to avoid to ensure you receive the best possible financial aid package.
Not Submitting the FAFSA
Believe it or not, every year thousands of students fail to submit the FAFSA at all. Many students who do not complete the FAFSA feel their parents make too much money to qualify for any financial aid, but even those in low-income brackets are guilty of not applying too. Don’t make this mistake and let possible scholarships, grants and other forms of financial aid slip through your fingers. ALWAYS submit the FAFSA, starting with your senior year in high school, and file again each year you continue to be enrolled in college or grad school.
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Simplifying the FAFSA:Use the IRS Retrieval Tool
In a few weeks, parents and students will begin the process of completing the Free Application for Federal Student Aid (FAFSA). If you are a new or returning user, be sure to take a look at the IRS Retrieval Tool. Instead of having to pull all of your financial papers together again, the tool actually allows you to pull information directly from the IRS and your tax forms and imports them into the FAFSA form. This not only reduces the headache of basically preparing another return, but ensures more accurate reporting from year to year, as well. Who can use the form? Read the rest of this entry »
Seniors: Five Things ‘To Do’ Before 2012
Can you feel it in the air? High school seniors everywhere have started the countdown to graduation. It’s only a few weeks before we ring in the New Year, and before you know it, you’ll be headed across the stage to get your diploma! I know you are anxiously awaiting the winter break and a much needed reprieve from classes, but this is no time to neglect your college preparation agenda. Before we ring in 2012, here’s a list of five things every high school senior should be working on now…
1. Complete your college applications. This should go without saying, but don’t put off until tomorrow what you can do today! Check to make sure you have ALL items needed for your college applications: letters of recommendation, transcripts, test scores, college admission essays, etc. Be sure to have someone review everything for errors/omissions and get your applications ready for submission. Next, submit them online, or (if you are sending them offline) take your completed packets to the post office or UPS store to be weighed to ensure you have the proper postage; nothing would be worse than getting back your applications returned as undeliverable after the deadline due to insufficient postage. Read the rest of this entry »
FAFSA: A New Year’s Resolution You Should Keep
Another holiday season is winding to an end. The tree is by the curb, the decorations are back in storage, and the lights are coming down this weekend (or next weekend, or whenever the neighbors start to complain). The resolutions have been made, and more than a few have undoubtedly already been broken. For high school seniors, college students and parents of both, there is one resolution that they may not have made, but probably should have: Get the FAFSA submitted early.
W-2’s will be arriving soon, and before long the IRS will be eagerly awaiting your tax returns. If you are a high school senior, a college student or the parent of a dependent student who will be applying for college financial aid, it is also the time of year when the FAFSA (Free Application for Federal Student Aid) becomes available online. Read the rest of this entry »
No Money Under the Couch Cushions? Here’s Where to Look.
College is expensive and unfortunately, we all can’t win the lottery (aw, shucks!). Finding money to pay for college can be stressful. How can you afford college when tuition is at a pinnacle? This sounds obvious, but understanding your options will make the process of paying for higher education easier. This means research, research, research! Read as much as you can about all of your options so you can make the most informed decision. So when all the couch cushions have been overturned and tuition money is still needed, where do you turn? Here are five areas to look for spare change. Read the rest of this entry »
TOP 3 College Financial Aid Myths—Busted!
In celebration of Financial Aid Awareness Month, today we are going to bust some of the most popular college financial aid myths. (Which ones have you heard before?)
Let’s get started:
Myth #1 – Star high school athletes always receive full-ride athletic scholarships for college
All of us have watched truly talented athletes play on our home fields and courts. It’s natural to assume these local stars are shoe-ins for scholarships. But the harsh reality is, there are stars in every high school in every state and the competition for limited college athletic scholarship dollars is stiff. Many of these athletes will play at the college level, but the NCAA only awards athletic scholarships for Division-I and Division-II schools (usually those large, competitive schools you see playing sports on TV). These scholarships are rarely “full-ride” scholarships, and only about 2% of ALL high school athletes receive these scholarships.
BUSTED! Read the rest of this entry »
You’re Cordially Invited: All About FAFSA
Who: Anyone heading to college, but especially high school seniors and their parents.
What: The FAFSA (Free Application for Federal Student Aid) is the prerequisite for almost all financial aid for any higher education institution.
Where: There’s a whole website devoted to it: www.fafsa.ed.gov.
When: For high school seniors, the FAFSA must be submitted as soon as possible after January 1st. Read the rest of this entry »
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