Filling Out the FAFSA Georgia

Filling Out the FAFSA

Pell grants, ACG, FSEOG, SMART, Stafford loans… and that's just the beginning. Every year the federal government awards more than $70 billion in grants, loans, and work-study programs. Fortunately, you only have to submit one form to apply for all of them: the FAFSA. The Free Application for Federal Student Aid is a one-stop shop for all federal financial aid programs and many state, school, and private programs as well.

Based on the information you provide on the FAFSA, the Federal Student Aid program assesses your ability to pay for college and relays this information to school financial aid offices. The financial aid offices determine your eligibility for federal grant and loan programs and the amount of funding you are allowed to receive from them. Depending on your means and the cost of a particular school, your offer will likely include some combination of grants, low-interest loans, and possibly work-study. The exact amount and type of aid depends on your financial circumstances relative to other applicants'.

Preparing to Complete the FAFSA

The official deadline for the 2007-2008 FAFSA is June 30, 2008. However, your deadline for practical purposes may be much earlier--in order to maximize your financial aid and receive it in time for the school year, plan to submit the FAFSA as soon as possible after January 1st. Most schools prepare for the upcoming school year by setting a FAFSA deadline in early spring. Funds are limited and distributed on a first-come, first-served basis--the earlier you apply for financial aid, the better your chance of getting the package you want.

A first-time online FAFSA should take no more than an hour to complete. You can streamline the process by following these steps to prepare for the FAFSA:

1.Decide whether you will file using the online FAFSA on the Web, or complete a paper FAFSA. FAFSA on the Web is available at the FAFSA site. If you plan to mail in a paper FAFSA application, get a form from your high school counselor, a college financial aid office, or the local public library, or by contacting the FSAIC at 1-800-4-FED-AID (1-800-433-3243).

2. Review the application. If you plan to file an online FAFSA, print a FAFSA on the Web Worksheet. If you are completing a mail-in FAFSA, review the application before you begin and understand how the application is organized.

3. Gather the necessary documents. (see the list provided)

4. Complete your 2006 Tax Return. If you haven't completed your taxes before you submit the FAFSA, you'll have to make adjustments to your application later. It's easier to get your numbers straight now.

5. Find the school codes. You will need to provide the Title IV institution code for each school to which you are applying. You can get this from the school, or use the FAFSA website's Federal School Code Search.

6.Apply for a PIN at Federal Student Aid's secure website. The PIN serves as an identifier and electronic signature, and can speed the processing of your application. Even if you are filing by mail, it's important to apply for a PIN--it enables you to monitor your application and make corrections online.

If you are applying as a dependent student, your parents will need a PIN as well. Apply for a PIN at least ten days before you plan to file the FAFSA, to ensure that you receive it in time to sign your application.

The FAFSA Form Online or On Paper

Federal Student Aid will only process an accurate, correctly formatted application. It audits about a third of the applications to verify the accuracy of the financial data, so make sure the figures you report match those on your documents.

Keep in mind the following as you fill out your FAFSA:

• If you choose to fill out a paper form, use a pen with black ink.
• Round dollar amounts to the nearest whole dollar.
• Dates must be reported using eight numbers, in a month-date-year format. Single-digit
dates should be preceded by a 0. Example: 02052007 is February 5, 2007.
• Do not leave any questions blank unless the application tells you to do so.

To make sure your FAFSA gets processed in a timely manner:

• Print a copy of your FAFSA on the Web, or make a photocopy of your mail-in form.
• Sign your Application. Either sign your application electronically using your PIN, or
print, sign, and mail in the signature page.
• Submit your Application.
By Mail: When you mail your FAFSA, get a certificate of mailing from the post office in
case you have to verify the postmarked date later.
Online: If you are submitting a FAFSA on the Web, make sure you reach the confirmation
page.
• Follow up. Check the status of your application via the FAFSA website, or by calling the
federal processor at (800) 4-FED-AID or (319) 337-5665. Whether you file online or by
mail, you can expect a notice indicating the receipt of your application within two
weeks.

If you have additional questions about federal student aid or how to complete the paper FAFSA or FAFSA on the Web, consult the U.S. Federal Student Aid's Student Aid on the Web site. Or contact the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243).

Special Procedures: Applicants Convicted of an Illegal Drug Offense

Special procedures apply for applicants convicted of the sale and/or possession of illegal drugs if that offense occurred while they were receiving federal student aid. You are not automatically ineligible for aid, but the conviction may affect your access to funding. Depending on the type and number of conviction(s), you may be temporarily ineligible, or you may be required to complete an approved drug rehabilitation program.

If you answer "Yes" to Question 31 on the FAFSA, you will receive a Drug Conviction Worksheet together with your Student Aid Report. The Student Aid Eligibility Worksheet will help you determine whether the conviction affects your eligibility for student aid.

Every Year: Renewal FAFSA

The FAFSA applies only to the upcoming school year. Since your financial information is apt to change from year to year, the Federal Student Aid program requires an annual renewal application. Fortunately, the Renewal FAFSA contains most of the information from the previous year--you need only update financial details and any other information that has changed.

The FAFSA can be a bit complicated the first time around, but if you take it one step at a time you'll find that it's not as difficult as it seems. The major task is pulling together your financial documents and information. Once you have these important numbers at your fingertips, filling out the form will be a breeze. And the potential payoff of your efforts--access to major funding sources with a single form--makes it all worthwhile.

Sources:
FAFSA
"Filling Out the 2007-2008 FAFSA." Federal Student Aid
FinAid.org
"Funding Education Beyond High School," Federal Student Aid
Peterson's
Student Aid on the Web, Federal Student Aid

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