It's an annual rite for financial aid.
Spring means warm breezes, new leaves on the trees, tiny crocuses blooming - and FAFSA. "What's FAFSA again?" you may ask. It's the Free Application for Federal Student Aid. You may not remember, but you filed this extremely important form last spring when college was still just a gleam on the horizon.
But if you don't remember all the ins and outs, never fear: By the time you graduate, you'll know it by heart.
Why? Because you must file a new FAFSA every spring.
HEAD Lines
Here's what you'll need:
• Your parents' tax return for this past year.
• While you're at it, ask your parents for copies of their W-2 forms as well - you may need those later.
• Did you make any money last year? Lucky you! You'll need your tax and W-2 forms also.
• Got investments? Even if you earned $3.41 interest on your bank account, the government wants to know, so collect documentation on all your financial doings, big or small.
• Your Social Security Number.
• Your driver's license.
Once you've compiled your FAFSA folder, the FAFSA Web site will help you complete the process of filing. But if you run into trouble, remember that most students on your campus have been through this. If you stick your head out the door of your dorm room and shout, "Can anyone help me with this FAFSA thing?" you'll probably have a dozen helpers in mere moments. And the counselors in the Financial Aid Office can help, too.
Web Resources
The site for FAFSA: www.fafsa.ed.gov
HoH Tips
• Did you know that hundreds of thousands of college students who could be eligible for aid don't file their FAFSAs? Some of those non-filers think it's just too complicated. Others think, "I won't get any money, so why bother?" But if you follow the instructions, it's not so hard - and you might be eligible for aid that could make your life a whole lot easier. So... Just do it. The first "F" in FAFSA stands for Free, so what have you got to lose?
• If your family's financial circumstances change during the year - say, one of your parents gets laid off from work - it may be possible to have your financial aid award recalculated. Talk to someone in your college's Financial Aid Office.