– FAFSA Deadline –
The Free Application for Federal Student Aid is still open, filing early helps to ensure you don’t miss FAFSA deadlines for state and college aid, which may differ from the federal deadline.
What is FAFSA and Why is it Important?
FAFSA is the Free Application for Federal Student Aid and is used by students (and their parents) in order to receive government financial aid for college.
The FAFSA helps colleges and the U.S. Department of Education evaluate your financial need, and determine how much financial support you require.
The FAFSA is your portal to federal and state student aid including loans (money you have to pay back), grants (money you don’t have to pay back), and work-study positions (money you have to work for).
The FAFSA helps determine not only what aid you qualify for, but your expected family contribution toward the cost of your education, which will vary by school.
The information you provide about your family’s income on the FAFSA is shared with the colleges you intend to apply to, and state higher-education agencies where those schools are located.
Who Should File the FAFSA?
All college-bound high school seniors and returning college students should file the 2019-2020 FAFSA. This applies to both dependent and independent students.
You don’t need to know which school you will be attending to file. List the colleges you’re applying to on the FAFSA when you file. You can always edit your list later by simply logging in to your account.
What do I Need to File the FAFSA?
Filing is easier if you have gathered everything you need before you get started. If you are a dependent student you will need the following information for yourself, as well as your parents.
If you are married you will need this information for your spouse also.
1. Social Security Number (or Alien Registration Number if you are not a US citizen)
2. Student’s driver’s license (if applicable)
3. Tax return for you and your parents, if applicable.
4. Bank statements, records of investments, and records of untaxed income (such as veteran’s non-education benefits and child support)
5. An FSA ID to electronically sign the form (students and parents will each need their own FSA ID)
When is the FAFSA 2022 Deadline?
FAFSA® forms must be submitted by 11:59 p.m. Central time (CT) on June 30, 2022. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 10, 2022.
The earlier you file, the more grant money you are likely to receive (up to twice as much). Filing early also helps to ensure you don’t miss FAFSA deadlines for state and college aid, which may differ from the federal deadline.
You can find state FAFSA deadlines at www.studentaid.gov/h/apply-for-aid/fafsa#deadlines. For a specific school’s FAFSA deadline, contact the college directly.
Why Should I File the FAFSA?
When you file early, you will likely receive information on how much aid you qualify for before you receive admission notifications from colleges.
This can help you decide how much you can afford, and which school will best meet your needs, both academically and financially.
Also, people tend to underestimate how much need-based aid (aid based on income and financial situation) they are eligible for and overestimate how much merit-based aid (aid based on academic performance) they will receive.
Step-by-Step Guide to Applying for FAFSA
Thinking of how to apply for FAFSA? Before beginning, review this list to make sure you don’t miss any important steps in the process:
1. Understand what the FAFSA is and why it’s important
2. Double-check that you should be submitting a FAFSA application
3. Find the FAFSA deadline and add it to your calendar
4. Determine your dependency status
5. Identify and gather the documents you’ll need
6. Apply for or locate your Federal Student Aid ID (FSA ID)
7. Set a time to sit down with a parent (or both parents) to fill out the FAFSA
8. Learn which schools to apply to
9. Look up your federal school codes
10. Review and submit your application
11. Double-check the details on your Student Aid Report
12. Correct, update, verify
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What are the Common FAFSA Mistakes I Should Avoid?
Many FAFSA mistakes are easily avoidable, so be sure to understand them before getting started.
To begin with, don’t make the mistake of skipping the FAFSA entirely. While seemingly straightforward, you’d be surprised how many people miss out on opportunities at federal or state funding for school, simply because they didn’t take the time or didn’t think the FAFSA was for them.
Who Should Submit a FAFSA Application?
If you’re going to college or graduate school in the U.S., there’s a good chance you should fill out the FAFSA. All U.S. citizens and permanent residents attending college should complete the FAFSA.
Some financial aid offices at universities will even ask international students to apply, as the FAFSA can help them evaluate whether these students are eligible for institutional aid.
Documents Needed to Fill out the FAFSA
Before jumping into the application, get all your documents in one place to make the filling out process easier. These documents can include the following, but may change based on your dependency status (as determined by the question above):
1. Your Social Security number
2. Social Security numbers for one or both parents: If you cannot access the physical cards, double-check that the names and social security numbers match your parents’ tax returns
3. Your driver’s license, if you have one
4. Alien registration or permanent resident cards, if you or your parents are not U.S. citizens
5. Your parents’ tax records: These include forms like the IRS 1040, 1040A, 1040EZ, and any documents used to fill out tax returns like W-2 forms, bank statements, or mortgage interest statements.
FAQs FAFSA Deadline
QUES 1. Do You Have to Fill Out FAFSA Every Year?
ANS:
Yes, you most likely will have to file FAFSA every year you plan on attending school. Most academic institutions require students to re-apply for financial aid by filing FAFSA every year the student is enrolled because the amount of aid a student may be eligible to get may fluctuate across years depending on a variety of factors.
QUES 2. What if I Missed the FAFSA Deadline?
ANS:
If you missed the FAFSA deadline the first thing you should do is get in contact with your college. If you call your college’s financial aid office, they will give you specific instructions on how to move forward.
All things considered, if you successfully submit your application by June 30, you may still qualify for federal grants and loans.
However, if you missed your state’s deadline you may qualify for some federal aid but not state-sponsored aid assistance.
QUES 3. Do I Need a Parent’s Help to Apply for FAFSA?
ANS:
If you’re classified as a dependent for the FAFSA, you will likely need your parents’ help filling out the FAFSA, especially for the sections pertaining to their assets.
You might want to set up a time to sit down with them and fill out the application in one go.
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StudentsandScholarship Team.
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