1. Don’t Miss the Deadlines
The two main forms that help determine what aid you qualify for are the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) Profile.
About FAFSA
The FAFSA is filled out by all students and is free. While there is no universal deadline for FAFSA, most schools have a mid-February deadline (this is especially true for first year students who are often required to file for aid before other students).
About CSS Profile
The CSS Profile is the financial aid application service of the College Board. Used mainly b private schools, the deadline to submit it is one week before a college’s priority aid deadline.
2. Submit Forms Online Instead of Paper
The online form for FAFSA is a “smart form” and will skip unnecessary questions and check for errors as you proceed.
3. Be Accurate
Be accurate when filling out both forms. The government has an audit system in place for individuals who file financial aid.
Some people will be asked to verify their information, especially first year students. If you are off by a couple thousand dollars, you will probably be alright, but being off by a couple hundred thousand will probably be noticed.
4. Estimate Income Information
Estimate income information if your taxes aren’t done in order to meet the deadlines. Don’t worry about filing the aid forms before your taxes are done because most people are good at estimating the figures needed.
5. Be Accurate With Student’s Social Security Number
The most important question on both forms is, “What is your (the student’s) Social Security number?” This is the only mistake that cannot easily be fixed. Once you file the FAFSA and CSS, you can go online to make other corrections.
6. Include Untaxed Income
For both forms, don’t forget to include under the “Untaxed Income” sections the income that you have that is not taxable on your tax return. Common errors are forgetting to include child support and worker compensation income.
7. Include Info for All Parents Student Lives With
When completing the FAFSA and CSS, be sure to include the information of the parents the student lives with, including a step-parent if there is one. Grandparent information should never be included on either form.
8. Inform Financial Aid Offices of Unemployment
If a custodial parent or step-parent has recently become unemployed or under-employed, write to the financial aid office at each college you are applying to. Explain your family’s financial situation and ask that they use an estimate of the 2010 income instead of the 2009 income that is reported on the FAFSA and CSS, since the 2010 income will be lower. Be sure to provide any additional information requested directly to the college.
9. Call the Financial Aid Office with Questions
Talk to a school’s financial aid office if you have any additional questions. Colleges are glad to help answer financial aid questions even if the student isn’t committed.
10. Attend a Financial Aid Workshop
If you have FAFSAÂ concerns you want addressed in person, several workshops are scheduled each year. In the fall, visit fafsaday.org for a complete schedule of workshops in the Commonwealth.
