FAFSA Forms
Every year students from around the country participate in a
ritual that generates the same anticipation as a dental check-up.
Whether you want a campus job or government loan, the first step
is filling out the Free Application for Federal Student Aid, or
FAFSA. The form may be daunting at first (it has the look and
appeal of a tax form), but Kaplan has the tools to walk you
through the process step-by-step.
The basics
The FAFSA is the standard form required to receive any
financial assistance from the U.S. government. Pell Grants,
Federal Work Study, Stafford, Perkins and PLUS loans all require
a finished FAFSA. The Department of Education will examine your
basic financial information (household income, etc.) to determine
the amount of support to which you're entitled.
Once you've submitted the form for processing, you'll receive
a Student Aid Report (SAR). If you�ve filed electronically, the
SAR will arrive by e-mail as fast as a week after submission. If
you didn�t complete the electronic process correctly or filed a
paper application, the SAR will arrive by post office two to
three weeks after submission.
After you confirm that all the information is correct, the
Department of Education issues you an Expected Family
Contribution (EFC). This figure represents the amount of support
the government expects your family to provide for college
expenses. Your school will receive a copy of the SAR three days
after final processing.
Each college's financial aid department determines how their
students receive assistance (check, automatic deductions on
tuition bills, etc.). However, your school is required inform you
of all its aid procedures and deadlines, particularly how and
when you will receive your aid and/or work study. Make sure you
follow-up with your aid office so that you know what to expect
and when.
How to do it
To fill out the FAFSA, you'll need to gather the following
documentation:
- Social Security Number
- Driver's license
- Income tax return
- Bank statements
- Investment records
You'll also need your school's Federal School Code number,
which you can look up here. Your financial aid office should have all the
proper forms and answers to your questions, or you can refer to
the Department of Education's FAFSA website for more resources.
Still confused?
Give the process a trial run. Kaplan has a
sample FAFSA so that you can practice filling it out before
facing the real thing!