What is FAFSA?

FAFSA stands for The Free Application for Federal Student Aid. Students who are already attending College or will be attending College. But you will have to meet the eligibility requirements associated with this application. To become eligible you must

• Be a United States Citizen, a United States National or a qualifying Non Citizen. • You must have a verifiable Social Security Number • You must have a High School Diploma, GED or an Ability To Benefit Test Completed. • If you are registered with the United States Selective Service and you are between the ages of 18 to 25. • You must also complete the FAFSA and you must sign a guarantee that the aid given will be used solely for education only • You cannot owe refunds on any grants given by the Federal Grants • You cannot default on student loans • You cannot be convicted of selling or possession of illegal drugs while the aid is being given to you.

Once you have qualified for this Federal Student Aid there are some documents that you will need to fill out. Before filling out the application you should have your Social Security Number, if you have a Driver’s License, your W2 forms from the last tax season. You should have your parents Tax Returns, Current Bank Statements and any Business or Investment information if your parents have their own business.

You will have to gather additional information such as School Codes, Application Deadlines and you can find out your Dependency Status on the official FAFSA website. If you wish to file online simply go onto the FAFSA.ed.gov and you can file online. Sign up for a PIN and get started right away. On the website you will enter in all of the information from the documents that you gathered earlier. Finding out the outcome of your application can be done online as well. On the FAFSA website you can find out as early as 12 weeks after you filed, only if you used a PIN to complete the application. If you printed the application you will have to wait 2 to 3 weeks for any status on the applications.

Now once you have been approved the completed application will go directly to the College you are attending. Their financial aid department will put together a packet and the school will then take out what is needed for tuition and the rest will be forwarded to you for books and room and board. The sooner you start filing out this information the sooner you will get your results.

The best way to secure your child’s financial application is to start researching and filling out as many applications as possible. These types of Federal Aid are out there and if you don’t know where to look you could miss out on the opportunity to send your child to the school of their choice. Education is still the key to a better way of life.