Here is a list of what you should and should not do when you want to apply for a College Grant and fill in the FAFSA application form.
1.) Do not wait for your tax return to be done.
Financial aid is granted based on the first come first serve basis. If you wait for too long, you might miss your chance for a grant.
2.) The right parent should apply.
If your parents are divorced, the one that should be filing for the FASFA application is the one whom you spend the most time with the previous year. It doesn’t matter whether he/she has legal custody over you or not.
3.) Understand the meaning of “you”.
If you are a parent filling in the form for your child, the “you” in the form means the student. Do not get confused by this.
4.) Register ALL your household members.
This includes those whom you are providing for, such as dependent children, and the baby that is still on the way.
5.) Write the names according to the Social Security Cards.
Some people write the nicknames instead of the real ‘formal’ name as in the Social Security Card.
6.) Do not overstate your wealth.
You will be asked to list down your assets as per the date that you sign the FAFSA. If there is a huge bill that you have to pay, pay it first then fill in the form. Likewise, if you are expecting big income, fill in the form before the money arrives.
7.) Update your information to match your tax return.
If you filed the FAFSA before your tax return, do not forget to update it to match your tax form when your tax return is done.
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3 Responses
great!! the tips you offer are very helpful!!
Posted on January 26th, 2009 at 1:07 am
Great tips for everyone applying for financial aid. While many are waiting to receive their W-2′s in the mail, this information may help some families get the aid they need by filing now.
Posted on January 27th, 2009 at 8:10 am
Thanks for the feedback.
Posted on January 29th, 2009 at 8:10 pm
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