Filling Out FAFSA - A Complete Guide

​The Free Application for Federal Student Aid (FAFSA) is a very crucial part of the College application process. It is a version of financial aid that is now available to students online to make it simple and easy to see if you qualify for federal, state, or campus assistance. While recent changes to the form have made it even more simple to fill out, we have put together some helpful tips to help you go through the application step by step.

What is the FAFSA?

The FAFSA is available online or from your high school counselor. Students complete the application to see if they qualify for federal aid to assist with the cost of going on to post-secondary schooling. The FAFSA even qualifies students for other types of college aid, such as state aid, private awards, and institutional aid. College aid and state aid are often grants, scholarships, or student loans, however; student loans will have varying interest rates. If your financial package includes different types of loans be sure to compare student loans so you may be certain you are getting the best possible rates.

What You Need to Complete the FAFSA

Now that we have a better understanding of what the FAFSA is, we can discuss what you will need to have to make filling out the application as smooth as possible.

• Records of income (such as W-2 forms) for yourself and your parents**,
• Income tax returns for you and your parents**,
• Bank statements, mortgage information, and investment records (where applicable).

** If you're considered dependent on your parents' tax returns you will be required to provide this information.

Please remember to make photocopies of all of these documents. Always keep them handy for the future as you may need them for other forms/applications. If your application is lost or doesn't go through on the website, this will make it much easier to resubmit all of your information. Plus, each year a number of applications are submitted for verification or review. This process requires your high school to verify what you have filled out on your FAFSA, and your copies may need to be shown as verification.

The FAFSA Process

Once you've gathered all necessary documents, you will want to print out a FAFSA on the Web worksheet and apply for an FSA ID. The FSA ID used to be known as the Federal Student Aid PIN. The FSA ID is one of the most important aspects of the entire process. You will need to remember it for each future year that you fill out FAFSA for school. This means you should WRITE IT DOWN AND KEEP IT SAFE as it allows you to electronically sign documents and gives you access to view your federal aid documents online at any time.

When you are ready, fill out the FAFSA form. You can submit your FAFSA as early as October 1 and as late as June 30. It would be very beneficial to note that the earlier you submit the form, the better your chances are of receiving all aid possible. Some aid is available on a first-come, first-serve basis.

After your FAFSA submission, you'll receive your Student Aid Report (SAR), which will be a summary of the info you provided on your application, and it will let you know if there are any outstanding questions about your application, inform you if your application has been selected for verification, and tell you some of the types of aid, such as federal grants, that you are eligible for.

Once colleges and universities accept you into their programs, they will review your Expected Family Contribution (EFC) against their Cost of Attendance (COA), which includes tuition, room and board, and other education-related costs. Once that is figured you will receive your award letter outlining the specific federal grants, college loans, and work-study programs available for you.

Evaluate the award letters to help decide which school and college program are best for you. Once you decide on a college or university, you will accept the financial aid package at the college you are attending. REMEMBER, college loans, unlike education grants and scholarships, will need to be paid back, so be diligent in reading the fine print about repayment policies and interest rates before confirming admission and financial aid.

If you are still not confident in taking out loans for school, read this!

For more information and tutorials you can also check out the Federal Student Aid YouTube Channel.