Question about FAFSA...?
Hello...im going to be attending college in fall of 2011. When do i need to fill in the FAFSA for that time period? Does the FAFSA application open in January? Im Confused...Please help. Thanks.
- PETALv 710 years agoFavorite Answer
FAFSA. Free application for federal student aid.http://www.fafsa.ed.gov/
What is federal student aid: It includes grants, work study and loans. Filling out the FAFSA you are applying for all the federal aid listed on this page, plus others certain states and colleges have individually: http://www.fafsa.ed.gov/what010.htm
When FAFSA? Jan 1 of the year you will need it.You have the option on the FAFSA to do an estimate FAFSA using the previous years taxes and send it through. Then ASAP when you can you do the taxes for that year and go on the FAFSA home page under #3 where it says make corrections and put in the actual tax information. For example, my daughter was attending Fall 2010. On Jan 1 we did the FAFSA as an estimate using our 2008 taxes, then as soon as we got or W2s and did our taxes for 2009 we made the corrections on the FAFSA. Why file an estimate: Because colleges are all given so much grant/work study money and its given to students first come, first serve, even if you qualify if you file later, it may be gone. So file early!
How much do you get: Federal aid is offered given to students based on their financial need. Your financial need is determined based on the questions you are asked on the FAFSA which will be about income, amount in banks, property owned, stocks and the like, as well as questions about your current home situation, how many, how many in college at the same time etc. These questions will determine your financial need. They use all the info to determine your EFC, estimated family contribution which is the amount of money your family is expected to pay for your college because they can afford that based on your financial picture. This EFC amount is subtracted from the cost of the attendance (also called school budget) and the result of this is your financial need. COA/student budget is tuition, books, travel personal expenses, housing, fees. You can get an estimate here: http://www.fafsa4caster.ed.gov/F4CApp/index/index.... Even if you do not qualify for federal grants or work study you may qualify for federal loans which most all students have. This EFC and recap of your FAFSA will be put in a report called SAR, student aid report. You get an email this is ready in a week or two if you did it online and it can be viewed on the FAFSA home page #3.
The only way you will know what federal aid you qualify for is the colleges you listed on the FAFSA will be sent your SAR and a financial aid award created for you based on your financial need. Each college award will be different, as the cost of attendance is different, colleges have their own aid to offer, and when you apply makes a difference in what aid they have available to offer. You need to look at all the offers. If your federal aid grants, work study and federal loans do not cover your cost of attendance you will need to get a private loan to cover the rest like from a bank, so it may be smarter to pick a cheaper college where you need the least loans
How do you get your aid once you accept it: It gets deposited into your college account, usually by semester not all at once on certain disbursement dates your school has where everyone will get their money disbursed on a certain day. We applied Jan 1 2010, school started 9-1, our semester federal aid was disbursed 8-25. The colleges takes out their charges for housing, meals, tuition, and fees. We did have money left over and if you do you get a refund either a check or card system depending on the school, and we got that a week after school started by card system. Use that refund if any for books, materials etc.
All questions FAFSA, financial aid: http://www.finaid.org/
Click BEGIN THE PRESENTATION: http://www.nextstudent.com/financial-aid-tutorial/...
Does your state/program participate in out of state tuition for instate cost: http://www.sreb.org/page/1304/academic_common_mark...
- Anonymous6 years ago
Applying for FAFSA is a pretty straightforward process. In addition, since the advent of the internet, it has been a lot easier. Going to the official website of FAFSA will give access to the necessary FAFSA form to fill out, the list of requirements to present, and even the FAFSA estimator. FAFSA is not the same as a scholarship. FAFSA covers expenses for schooling that financial aid awardees will have to settle at a later time. On the other hand, a scholarship is given by institutions without necessarily needing payment later. In effect, scholarships can be much harder to get and sustain.Source(s): http://www.bogwaiver.com/apply-for-fafsa/
- babichLv 44 years ago
sure, you ought to report a renewal each and every twelve months, as close to to January a million as a possibility. the dept of coaching opens its doorways to human beings interested in submitting their 2007 FAFSA on January a million, 2007. right this is an insider tip - the closer you are able to report your FAFSA to that date, the better. The longer you wait, the extra serious your opportunities are high of figuring out to purchase grants and backed economic help like the backed Stafford loan. the reason being extremely basic - there's a limited quantity of furnish help obtainable each and every twelve months, and it is allotted on a common come, first served foundation. the dept of coaching does not assist you report your FAFSA for the 2007-2008 twelve months before January a million, so be certain you be conscious as close to to that day as a possibility.
- Anonymous10 years ago
All of the colleges you are applying to have different deadlines, you can fill the FAFSA application whenever. I am doing mine right now because my first deadline is the 1st of January!
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- just not thatLv 710 years ago
the fafsa for the 2011-2012 school year wont be online until Jan 1st. However, you won't be able to complete it accurately until you and the parents do your tax forms in Feb. I wouldn't rush and do it with estimated (wrong) info on Jan 1st, unless you just WANT to make things more complicated for yourself. More people have more problems getting corrections to go through with their estimated (wrong) info and would have saved themselves a bunch of time and worry if they'd have done it ONCE with accurate info on Valentines day (good day to remember).