FAFSA, or the Free Application for Federal Student Aid, is both the best and the worst asset to affordable college tuition. This free application determines how much money is awarded to your education by the government annually. FAFSA can be a little difficult to maneuver, especially if it's your first time doing so. Please take these tips into consideration as you fill out this year's application!
1. Complete FAFSA early.
I'm serious! The easiest way to ensure that FAFSA gives you the largest sum of money for your education is to simply complete the application early. The earlier you complete the application, the earlier you will receive your financial aid package. Waiting until the last minute ensures that you will be stressed out. There are often problems with FAFSA applications that must be addressed before any money can be given. If you procrastinate until the very last second, there will be absolutely no time for possible mistakes on your application. In other words, if you wait and complete FAFSA at the last minute, there's a high possibility that they'll throw you a 20 dollar bill and send you on your way.
2. Be honest on your application.
Finances are really tricky, especially for full-time students. Everyone has experienced some sort of financial obstacle in life that holds them back in one way or another, however, some are more fortunate than others. Please don't lie on your application to receive a higher sum of money. Believe it or not, but filling out a dishonest FAFSA application can be considered fraud if brought to the attention of the government.
3. Note any recent changes to the FAFSA process.
Make sure that you're being kept up to date with all recent changes! Typically, the FAFSA application isn't available until January of each year. However, the application has opened early for the 2016-2017 school year. Re-read the first point and fill out your application today using your most recent tax information!
4. Check your email often for any notice of problems with your application.
By the time that FAFSA is through with you, they'll have you convinced that even your name is incorrect. There will be mess-ups. You have to monitor the location of your application if you want it to process successfully.
5. Don't rely entirely on FAFSA!
While FAFSA is very helpful in providing grants and loans (they're different, research the difference between grants and loans before you accept ANY of them), FAFSA doesn't take into account any of your many talents and accomplishments that you may have achieved over the years. Do yourself a favor and fill out some scholarships!
Yes, FAFSA is scary. But you never have to traverse the rocky financial terrain alone! We're all in this together (High School Musical reference, anyone?) and there's always help available if you get stuck on your application. Yeah, turns out that guidance councilors are paid to do more than just administer tests and make schedule changes! Don't let FAFSA take advantage of you this year. Make yourself knowledgable about the process and go at it with confidence.
