The Most Important Things Counselors Should Tell Students About Applying for Federal Student Aid

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  The Most Important Things Counselors Should Tell Students About Applying for Federal Student Aid

• Fill Out the FAFSA

  • Fill out the Free Application for Federal Student Aid, aka the FAFSA^®, even if you don’t think you’ll qualify for aid.

  • There is no income cap for receiving aid, and most people qualify for some aid.

  • Schools use the FAFSA to award some institutional and state aid like grants and scholarships.

• Safeguard Your FSA ID

  • You and your parents need your FSA ID every year you apply for aid.

  • Keep it in a safe, accessible place.

• Prep Your College List

  • Have your FAFSA information sent to every school where you’re considering applying.

  • You can list up to ten schools on the FAFSA.

  • If your college list is longer than ten schools, send your information to more schools once you receive your Student Aid Report (SAR).

• You’re Not Committing

  • Sending the FAFSA to schools is not a commitment to attend.

  • Schools can’t see where else you send your information.

• Watch Out for Scams

  • The FAFSA is free to fill out and the only website you should use is fafsa.gov.

  • Be wary of phishing sites looking for personal data and websites that charge you to fill out the FAFSA.

• Link Tax Forms

  Save time and avoid mistakes by using the IRS Data Retrieval Tool, which links tax information instead of manually entering it.

• Be Punctual

  • The FAFSA comes out every year on October 1.

  • Fill it out as early as possible since some schools award aid on a first-come, first-served basis.

  • There are also state and school deadlines, so getting your application in early will avoid missing them.

• Talk to Your Family

  • Paying for college involves a frank conversation about a family’s income, savings and ability to pay.

  • It may be up to you to talk finances with your parents.

• Review Your SAR

  • You will receive a SAR within three to five days of submitting your FAFSA online.

  • Review this with your parents to be sure there are no mistakes.

  • If there are errors, correct them as soon as possible in your online account.

• Compare Award Letters

  • You’ll receive award letters from the schools where you’ve been admitted beginning in mid March.

  • Compare the aid each school offers and review with your parents so you can determine which schools you can afford.

• Ask for More Aid

  If you’re not happy with the aid offered in your award letter, there are two ways to ask for more aid — appealing and negotiating.

• Decide If You’ll Appeal or Negotiate

  • Appeal your award letters if your family’s financial situation has changed

  • If there hasn’t been a change in your financial situation, you may be able to negotiate with a school’s financial aid office for more aid.

• Ask Questions

  • Call financial aid offices with questions.

  • Use online resources, like the FAFSA 101 Infographic and the Complete Guide to Federal Student Loans.

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