Navigating the FAFSA Together: A Parent's Guide to Getting It Done with Care and Understanding
As September rolls in, it's time for students and parents alike to start thinking about the Free Application for Federal Student Aid (FAFSA). Whether you’re a high school senior planning for college or a returning student, applying for financial aid can be a game-changer in making higher education more affordable. Here’s everything you need to know to get started with your FAFSA this fall.
As a parent who's been through the process of completing the FAFSA for my own children, I understand just how overwhelming it can feel. Between gathering documents, understanding financial jargon, and trying to ensure every detail is correct, the FAFSA can quickly become a daunting task, especially with the new changes. The good news: you’re not alone, and it doesn’t have to be a stressful experience.
What is the FAFSA?
The FAFSA is the Free Application for Federal Student Aid, a form that students in the U.S. can fill out to determine their eligibility for financial aid. By filling out the FAFSA, you’re opening the door to various types of financial support, which can make paying for college much more manageable.
Why Should You Apply in October?
Maximize Your Aid: Many types of financial aid are distributed on a first-come, first-served basis. By applying as soon as the FAFSA opens on October 1st, you increase your chances of receiving the maximum amount of aid available.
Get Ahead of Deadlines: State and institutional deadlines for financial aid vary. Check with the schools your student is applying to to ensure deadlines are met. Submitting your FAFSA in October ensures you’re not caught off guard by any early cutoffs. The 25-26 FAFSA opening will be limited to some individuals and institutions on October 1st, with a roll-out for all by December 1st. This is to ensure that the Department of Education has time to fix any issues.
Avoid Last-Minute Stress: The earlier you apply, the more time you’ll have to correct any errors or gather additional information that might be needed. This helps avoid the last-minute scramble and ensures a smoother process. The FAFSA was updated for the 24-25 school year, therefore the process is a little more cumbersome for those that are new or have completed it in the past.
Eligibility: Students who do not complete the FAFSA will not be eligible for Federal Aid, which will only have the option of borrowing funds privately if needed, which is very expensive. Students may not be eligible for specific types of scholarships from colleges as well.
Common Mistakes to Avoid
Missing Deadlines: Check all deadlines for federal, state, and institutional aid and mark them on your calendar.
Incorrect Information: Ensure all information matches what’s on your tax returns and other official documents.
Leaving Blanks: Answer all questions on the FAFSA, even if it’s a zero or ‘not applicable.’
Types of Federal Financial Aid
Most federal financial aid is need based, determined using a student’s expected family contribution, but some aid is available to all students. In general, grants and work-study are based on need, while loans are not. There are four types of grants available through the FAFSA although the most common is the Pell Grant. Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree.
Need Help? Book a Free Consultation!
If you’re feeling lost, please reach out. At Financial Fitness, we offer a FAFSA Completion package, to help families like yours navigate the FAFSA with care and understanding. I’ve been in your shoes, and I’m here to help you every step of the way.
Final Thoughts
Completing the FAFSA isn’t just about forms and numbers; it’s about supporting your child’s dreams and future. Take a deep breath, know that you’re doing an amazing job, and remember that help is always available. Together, we can make this process as smooth and stress-free as possible
Visit financialfitnessct.com for more information on services that can help you gain the knowledge and tools to transform your financial outlook and achieve the future you deserve. Because at Financial Fitness, LLC “we cultivate a mindset” that helps individuals feel in power and in control of their finances, not the other way around.
Sources: Bankrate, Federal Student Aid
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