So how do you apply for financial aid? Maybe you’ve heard of this thing called the FAFSA or maybe you know something about some college scholarship application, but what’s the real deal? What do you really need to complete, and when should you complete them?
Moneyman is here to help you!
So when you apply for financial aid, there are several forms you might need to complete. Let’s review them one at a time! In today’s post we will tackle the FAFSA.
The first form you need to know is the FAFSA (the Free Application for Federal Student Aid). This application is a Federal application and is indeed free to use (never pay anyone to complete your FAFSA). The application needs to be completed every year you plan to be in school, and if you have other members of your family who plan to be in school, they need to complete a FAFSA each year as well. The application goes live on October 1 on the year prior to your school year (in other words, the 2019-20 FAFSA went live on October 1, 2018) and while you want to complete the FAFSA as soon as possible, as long as the school year is still is session (and you are attending) it is never too late to do the FAFSA.
To complete your FAFSA you will need to get an FSA ID (Federal Student Aid ID). The FSA ID is your electronic signature which you will use to sign the FAFSA. Both the student and (for dependent students) at least one parent will need to get their own FSA ID which they will use each year to sign the FAFSA. The FSA ID will also be used by students to sign other financial aid related forms and to sign into other webpages (some examples include student loan paperwork and financial aid history).
On the FAFSA you will list ALL of the colleges to which you are applying for admission (whether or not you have already been accepted). Since there is no cost for applying using the FAFSA, you should list any college you are considering. Each college has a specialized school code that they should list on their web page (or you can just look it up inside the FAFSA application itself).
You can complete the FAFSA by visiting the FAFSA webpage and completing the form online, or you can download the myStudentAid mobile app and complete the FAFSA on your mobile phone (available for both Apple ioS in the iTunes Store and for Android phones in Google Play).
So that explains the application for Federal Financial Aid. More to come soon about the other forms required for financial aid, including the CSS Profile and the Florida Financial Aid Application!