This year’s Free Application for Federal Student Aid (FAFSA)
is here. Because government grants compose 74 percent of the $185 billion
financial aid pool, it’s no surprise that FAFSA is a source of stress for
students and their families.
1. Gather Documents First
Here’s a list of documents students should have
in hand before they begin to fill out FAFSA. Also steer students to get a U.S.
Department of Education personal identification number (PIN.) Here’s the PIN application link.
2. Think About Taxes
Parents’ taxes are an important part
in the FAFSA process. Getting taxes done by February 1st may be
unrealistic, so last year’s taxes and this year’s paystubs can help create
estimates. After February 3rd, the IRS Data Retrieval Tool
becomes available, allowing students and parents to access the IRS tax return
information needed to complete the FAFSA and transfer the data directly into
their FAFSA from the IRS website. Plus, remind families that they can
complete taxes without actually filing. So if they owe money, they don’t have
immediately cut a check to Uncle Sam.
3. Find Quiet Time
Many of us work with FAFSA every year.
Families don’t have that familiarity. Encourage them to break down this large
application into smaller pieces. These do’s and don’ts can help.
1.
Don’t
sprint. Take questions one at a time.
2.
Do
read each question carefully and out loud. It improves question comprehension.
3.
Don’t
multi-task. Turn off cell phones, music players and televisions.
4.
Do
find a quiet place where FAFSA will have your full attention.
4. Stay Student Focused
Parents often forget that the student always
provides information. Parents are required to provide their information if the
student is a dependent.
So when parents see a question that
refers to “I,” remember that “I” is the student. “You” is also the student. When questions
address parents, you will see questions that refer to “your parents.” That is where parental information goes.
5. Avoid Parent Traps
When you see “parents,” FAFSA is
referring to the student’s biological or adoptive parents. When the parents are married, then the
student and both parents complete the FAFSA.
If the parents are not together,
things can get confusing. BigFuture by the College Board created the corresponding
infographic to help address some commonly asked questions.
6. Keep Track of Deadlines
Every college has a different set of
deadlines based on priority, merit, early decisions etc. BigFuture by the College Board helps
families sort through these deadlines with detailed college
profiles and a free, customized action plan. And just like a student should
raise his or her hands with a question in class, encourage them to call a
college with a specific question.
7. Profile CSS/Financial Aid PROFILE®
FAFSA opens the doors to federal aid.
There’s also almost $50 billion in non-federal aid available – from colleges,
states and private institutions. Some colleges and programs use the College
Board’s CSS/Financial Aid PROFILE to help award these monies.
CSS/Financial Aid PROFILE is an online
application that collects information used by almost 400 colleges and
scholarship programs to award financial aid outside sources from the federal
government. Families must complete the application and the College Board
sends it to the colleges and scholarship programs they have chosen.
Here’s a list of colleges that use CSS/Financial Aid
PROFILE® and where you go to complete the
CSS/Financial Aid PROFILE®. One CSS/Financial Aid PROFILE® report costs
$25. Additional reports are $16 each. There are fee waivers available for
low-income families.
8. Practice Makes Perfect
Educators can’t be with every student
as they fill out FAFSA. To provide support BigFuture created
a free FAFSA webinar that walks students, section by section, through an
actual FAFSA application. Families can access the free FAFSA webinar 24/7 on
their terms.
FAFSA can change a student’s life
forever. Following this map can help extend your activities with students and
guide them to a better future.
