The 8 things you should know to fill out a FAFSA (Free Application for Federal Student Aid) for the first time
1) Always go to www.FAFSA.ed.gov, not www.FAFSA.com. The FAFSA is free to file as its name suggests, but there are sites that will charge you to file, and the most popular just because its name is www.FAFSA.com.
2) To fill out the FAFSA, you will need the tax forms applicable to your situation. A few tips below will tell you whose tax forms you will need (the forms are the filed 1040, 1040A, or 1040EZ that is applicable).
3) The first thing you will have to do is apply for a PIN, which there is a link for on the FAFSA website. To apply for a PIN, you will need to know your social security number and date of birth. Any subsequent FAFSA’s will ask you this as well, so always know these when it comes to the FAFSA. If you choose to make your own PIN, make sure it is something you can remember, because this will be used later too.
4) There are certain rules that will not make sense, no matter how much you try. If you are under 24, not married (including those who are divorced under 24 years of age), do not have kids, and are not a foster child, orphan, or homeless in high school (which must be backed by a pastor, school counselor, or the state), then you are a dependent student, regardless if you live with your parents or not. If any of these apply, then you are independent. As a dependent student, there are lower limits to the amount of loans you can have.
5) Dependent students must fill out their FAFSA with not only their tax information, but also their parents. Independent students need their taxes and, if applicable, their spouse’s. This includes their Adjusted Gross Income (Lines- 37 on 1040, 4 on 1040EZ, and 21 on 1040A), tax paid (Lines- 55 on 1040, 11 on 1040EZ, and 37 on 1040A), and any child support received or paid. You will also need Education credits (Lines- 49 on 1040 and 31 on 1040A), and any other income that you may have (usually not SSI, Disability, Food Stamps, Welfare).
6) You will need to know what schools you want to receive your information. If you even think there is a chance you will attend a school, put it in when you are asked for what schools you want it sent to. It will take up to a month (more than likely it will be a week and a half to three weeks) to get your information to the school you are sending it to. The school will usually tell you what they need from you once they receive it. If you do not receive something within about a month and a half, then call the Financial Aid office and see if they received it. It could be a case of the wrong school code on the FAFSA.
7) You will need to fill out some more things on Federal Web Sites for any loans you take out. You will need your PIN, social security number, and date of birth for these as well.
8) If anything on the federal sites is a mistake or you lock yourself out, you need to call the Federal Site themselves. Financial Aid offices do not have access to most of that information. The number is 1-800-4-FED-AID (1-800-433-3243).
The College Edge 