Tuesday, 27 January 2009 16:48
by
Emily
Now that it's January, it's time to start thinking about filling out the FAFSA, the government paperwork that determines a student's eligibility for financial aid for college. Some colleges and universities use it to determine financial aid, as well. Sure, the federal deadline isn't until June 30, but some states require its submission by February or March in order to qualify for state financial aid.
The hefty form has over 120 questions and takes a decent amount of time and effort to fill out, especially because it requires several tax forms and other documents. Despite the pain-in-the-butt factor, it's best to get started on it sooner rather than later, says a recent article from The Dallas Morning News. It's easy to procrastinate, but this is not something you want to put off and risk forgetting about if you need financial assistance for school.
The article quotes Education Secretary Margaret Spellings as saying that the intimidation factor of the FAFSA alone keeps 40 percent of students from seeking financial aid, which is equivalent to about 8 million students (and she believes most of them would have been eligible for some type of aid had they applied). Because of this, in the next five years, the government is working to make the FAFSA simpler to understand and easier to complete, especially for low-income families.
In the meantime, what can you do to conquer the beast? Make the paperwork easier by filling out the form online, the article says, which is quicker and helps cut down on errors.
Remember, the FAFSA isn't a one-time thing; students must re-submit it every year they're in college if they want to continue to receive financial aid. Look at it this way – you'll become a pro!