It is important to fully understand the process when applying for financial aid. If you miss a step, forget a form, or are late on a deadline, you may not get the loan or grant you need.
How to Apply for Student Financial Aid: Overview
When applying for financial aid it is critical that you compile complete information and hit your deadlines. If you don't follow the steps as outlined you may not get any assistance at all.
How to Apply for Financial Aid: FAFSA
Applying for government financial assistance for college involves completing a Free Application for Federal Student Aid, or FAFSA. Some of the basic information required to apply for financial aid includes your Social Security numbers, income figures from tax returns and W2s, and assets from account statements. Unless you are an independent student you will need all this data for your parents as well. You will also need to indicate which schools you wish to receive your financial aid eligibility information. Gather all the required documents before you get started to make the process easier.
Important Deadlines
Deadlines for the FAFSA are as follows:
2006-07 school year: by midnight CDT on July 2, 2007. Corrections on the Web forms must
be submitted by midnight CDT on September 17, 2007.
2007-08 school year: by midnight CDT on June 30, 2008. Corrections on the Web forms must
be submitted by midnight CDT on September 15, 2008.
Check with your school's financial aid office for information on state and school deadlines for financial aid.
More Financial Aid: The CSS/Financial Aid PROFILEr
Using the PROFILEr helps you save time filling out paperwork and applications when you apply for student aid. Many colleges, universities, and scholarship programs around the country use the information collected through the PROFILEr in order to award student assistance.
Remember to take your time and get everything you need gathered up before you start-- and don't miss the deadlines!
Sources:
CollegeBoard.com
Dept. of Education 2006-07 Guide to Federal Student Aid
FAFSA.ed.gov