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FAFSA General Information
The FAFSA (Free Application for Federal Student Aid) is the largest
step in the financial aid process. It is required by virtually all colleges
for students to be eligible for
need-based financial aid. The application is very thorough
and asks for extensive personal and financial information. The
FAFSA application should be completed according to the schedule presented
in the MyCollegeCalendar™ admission system.
Documents you - and your parents, if applicable - should have available to help answer questions on the FAFSA application include:
1. Social Security card
2. Driver’s license (if any)
3. Permanent Resident Receipt Card (if applicable)
4. 2011 W-2 forms (if available) and other 2011 records of money earned from jobs and other sources
5. Income tax returns – use 2010 tax returns to help with estimating income earned in 2011 or use 2011 income tax returns, if available
6. Records of child support paid
7. Current stock, bond, and other investment records
8. Records of benefit information (including Social Security, veterans’ and welfare benefits).
9. Current business and farm records
10. Current bank statements
The official deadline for submitting the FAFSA application is different
for each college; check the financial aid page on each college’s
website for the actual deadline. The deadline for the majority
of colleges is either February 1 or March 1. However, beware that
scholarships and grants are given out from “pools” of funding
on a first-come, first-served basis. If you wait until mid- to
late-February to complete and submit your FAFSA there could be little
or no money left in some scholarship “pools” because other
students have already been awarded financial aid from those “pools.”
Therefore, complete and submit your FAFSA as soon as possible after
January 1, 2012. You and your parents must complete the FAFSA in
January 2012 by using estimates of your assets and income earned in 2011.
After you and your parents finish your federal tax returns in early February
2012, use the final income numbers on their tax returns to make corrections
to the FAFSA. |
