Auburn High School Guidance Department
Kathy Bucy & Kristin Kudrna, Guidance Counselors
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By Kristin Kudrna
February 05, 2010
2010
Watch the FAFSA-HOORAY video then get started!
http://www.startheregetthere.org/faam/videos.html
Preparation key to applying for financial aid
Preparation is the key to successfully completing and filing the Free Application for Federal Student Aid (FAFSA). The FAFSA is the application for state, federal and college-specific financial aid. Even if you don’t think you’ll qualify for need-based financial aid, you should complete the FAFSA to qualify for low-interest student and parent loans.
EducationQuest offers free help in filling out the FAFSA form. From January 1 to April 1, the college planning offices will make appointments with first-time FAFSA users. During these appointments, their staff will provide a detailed explanation of how and why to complete the FAFSA form. Clients may also file online forms at www.fafsa.ed.gov
Follow these steps to complete the FAFSA and the financial aid process:
Ask your college(s) for their FAFSA priority filing date. Because some types of financial aid are awarded first-come, first-served, it’s important that you submit the FAFSA before that date. Check the Nebraska State Colleges and University websites for their deadlines. Deadlines VARY!
Request a Personal Identification Number (PIN) for you and a parent at HYPERLINK "http://www.pin.ed.gov/" www.pin.ed.gov. The PIN is your signature for the online FAFSA.
Complete tax returns early as the FAFSA requires current tax information.
Gather these student and parent items:
2009 federal tax returns and, if applicable, Schedule K-1 (Form 1065)
2009 W-2 forms
Student’s driver’s license number
Social Security numbers
Birth dates
Date parents were married, separated, divorced or widowed
Current cash, savings and checking account balances
Current investment values (stocks, bond, mutual funds, CDs, etc.) excluding retirement accounts
Value of business (if more than 100 employees)
Value of investment farm (Do not include the value of a family farm that you or your parents live on and operate.)
2009 child support (paid and/or received)
2009 ADC/TANF welfare benefits
2009 Social Security payments received from SSI or SSDI
2009 Workers compensation
Other untaxed income in 2009 such as veteran’s benefits, housing/food/ living allowances for military and clergy
Alien Registration Number for eligible non-citizens
Be prepared to answer these FAFSA questions which relate to grant eligibility:
1. Did your student or anyone in the household receive any of the following federal benefits?
Supplemental Security Income
Food Stamps
TANF
Free or Reduced Price Lunch
WIC
2. Did your student complete at least two Advanced Placement courses with a passing test score of B or higher?
3. Did your student complete and pass the following high school courses?
3-4 years of English
3 years of math (Algebra I and above)
3 years of science (2 of 3: Biology, Chemistry, Physics)
3 years of social studies
1 year of a language other than English
Complete and file the FAFSA electronically at HYPERLINK "http://www.fafsa.ed.gov/" www.fafsa.ed.gov before your college’s priority date. Check out our Nebraska State Colleges and University System websites. Deadlines vary!
Expect a Student Aid Report acknowledging that your form was processed.
Expect Financial Aid Award Letters in the spring from the colleges you listed on your FAFSA detailing the assistance they’re offering (could be combination of scholarships, grants, work-study and student loans).
Apply for student and parent loans (if necessary) in the summer through your college.
FAFSA Information
For 2009-10 paper FAFSAs will not be available in bulk for counselors. Students will need to order their own copies of the paper FAFSA by calling 1-800-433-3243. Also a new PDF of the form will be available to download from HYPERLINK www.FederalStudentAid.ed.gov. Students are encouraged to use the online method for filing the application.
Attend a Financial Aid Program to learn how to pay for college
EducationQuest is conducting statewide financial aid programs that explain the types of financial aid, how to complete the Free Application for Federal Student Aid (FAFSA), how colleges award financial aid and the student loan process. The programs are free and open to the public. To find the program nearest you, http://www.educationquest.org/fap.asp.
Seniors…have you submitted your college applications?
If you haven’t submitted your admission applications yet, it’s time to get serious! Contact your top college choices to determine application deadlines and procedures. Ask if the admission application is also the application for college-based scholarships. If not, ask about the scholarship application process.
How to estimate your FAFSA results
If you’re a college-bound senior, you will soon complete and submit the Free Application for Federal Student Aid (FAFSA). Colleges will use your FAFSA results to determine how much they will award you in financial aid.
To estimate your FAFSA results now, use the College Funding Estimator at www.educationquest.org. The program will ask for 2009 income tax information. You may estimate your tax information to complete the Estimator but should use your completed 2009 tax returns when you submit the actual FAFSA.
Applying for financial aid is not difficult if you're prepared.
Follow theses steps to determine how you'll pay for college.
⇒Learn what types of financial aid are available:
Scholarships come from private donors or from your college and are not repaid. Some are based on financial need, while others are based on criteria such as academics, leadership, athletics, talents or military involvement.
APPLYING FOR SCHOLARSHIPS INVOLVES A LOT OF WORK;
HOWEVER, YOU MUST REMEMBER TWO THINGS:
1) SCHOLARSHIPS WILL NOT COME YOUR WAY UNLESS YOU TAKE THE TIME TO APPLY.
2) THE MORE SCHOLARSHIPS YOU APPLY FOR, THE GREATER YOUR CHANCES OF RECEIVING MONEY.
Grants* are based on financial need and you don't repay them, They include:
Work-Study,* also based on financial need, allows you to earn money while attending college, You get paid for hours worked, so don't expect money up-front to pay tuition. Work-study earnings will not affect future financial aid eligibility.
Loans* are a type of financial aid you must repay. Some are in your name and some are for your parents.
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