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Tips For Applying For Fedral Student Financial Aid

If your student is college bound this coming fall, then now is

the time to become acquainted with the financial aid application

process. The most important form is the Free Application for

Federal Student Aid, otherwise known as the "FAFSA.

Here are some tips to prevent any problems and make sure your

application is considered:

Tip #1: Read the form

Many questions on the FAFSA are straightforward, like your

Social Security Number or your date of birth. But others require

you to read the instructions to make sure you answer the

question correctly. Certain terms like "household" have special

definitions purposes of student financial aid. So be sure to

read the instructions.

Tip #2: Apply early

Deadlines for aid from your state, from your school, and from

private sources tend to be much earlier than deadlines for

federal aid. To make sure that any financial aid package your

school offers you will contain aid from as many sources as

possible, apply as soon as you can after January 1, 2005.

Tip #3: Do your 2004 taxes first

Filling out your tax return first will make completing the FAFSA

easier. You are not required to file your tax return with the

IRS before you submit your FAFSA. But, if you file the FAFSA

first, and your income or tax information changes once you

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complete your tax return, you are required to go back and

correct any inaccurate information on your aid application. If

you do not make these updates, you may not receive as much aid

as you qualify for, or you may be required to return federal aid

you improperly receive based upon incorrect information.

Tip #4: File Electronically

You can fill out and submit a FAFSA over the Internet. This is

the fastest way to apply for financial aid. Also, by filing

online, your application can be scanned for errors before being

submitted, reducing the risk of your application being rejected.

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