The FAFSA
Happy New Year!
I hope the holidays treated everyone well! I’m sure you students have enjoyed your break from classes! While most of us have been enjoying a relaxing time of the year, there are offices all over the country that are not so relaxed right now, financial aid offices.
As of January 1st 2009, students were able to log onto the federal website to file the Free Application for Federal Student Aid, also known as the FAFSA form. The next two months will be very busy for financial aid administrators as they start gathering this information and offering financial aid packages to accepted students.
Two popular questions I’ve been asked lately are “What is this FAFSA form I’m being told to fill out?” and “What does this form do?” Both of these are great questions.
The FAFSA is a form that is required by any school offering federal financial aid. The information put on the FAFSA provides a student and his parent(s) what is known as an EFC (Expected Family Contribution). Families will be able to see their EFC when they submit the form electronically. Just so you know, completing the FAFSA may seem a little confusing, so to help make it a little easier, check out 10 tips to filing a FAFSA.
Once the financial aid office receives your EFC, they determine your eligibility for financial aid by subtracting your EFC from the school's cost of attendance. This information is then used to put together your financial aid award.
This may seem kind of complicated but there is a nice breakdown available here. If you or your parents are having any questions filing the FAFSA, you can always call the college counselors at the Center for College Planning @ 1-888-7-GRADUATE ext.119. We can also help families complete the FAFSA form in our Concord, NH offices. Call us to make an appointment.
Remember - you have to have filed the FAFSA by the deadlines at each of the schools you are still interested in. Some common filing dates are February 1st, February 15th, March 1st, and March 15th. As long as you have the form submitted by the school’s deadline, you will still be eligible for the maximum amount of student aid.
Good luck with the form – ask us questions here by leaving a comment if you would like!
Rich
Hey Rich - question for you. I have a legal guardian and do not live with my parents. Do my legal guardian and I fill out the FAFSA or do I fill it out with my parents? My parents aren't around, so I don't know what to do. Thanks -
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Katie, I have some good news for you. There is a question on the FAFSA that is for that particular circumstance. The question asks if you are in a legal guardianship. Since you would answer "yes" to this question you will be allowed to file the FAFSA as an independent student, meaning you will not have to include information about your biological parents, nor your legal guardians. This in essence will probably make you eligible for more financial aid. Good stuff!
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