How to Apply for FAFSA: Everything you need to know

What Is FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the form you need to fill out to get any financial aid from the federal government to help pay for college! Who wouldn't want to have some fees knocked down? I know I would. So I'm going to give a few tips and tricks on how to apply.

Disclaimer ** this does guarantee you will receive a full Pell grant or money from FAFSA. This is simply going over the application for people who have never applied before and don't know where to start.

Where should I apply? On a laptop? Phone?

You can apply anywhere when applying for the FAFSA. So you can apply on a computer, laptop, phone, or mobile device. Pretty much anywhere you like! I would prefer to use a desktop your first time so you can see everything in full screen.

Okay, now you may ask, what documents do I need?

You’ll need a few documents, numbers, and personal information to include in your FAFSA application. Check with your family (parent/parents) if you need access to some of these documents:

• Your Social Security number

• Your parents’ Social Security numbers if you are a dependent student

• Alien Registration number if you are not a U.S. citizen

• Your driver’s license number (if you have one – if not, don’t sweat it.)

• Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married), and for your parents, if you are a dependent student:

• IRS 1040

• Foreign tax return, IRS 1040NR, or IRS 1040NR-EZ

• Tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau

• Untaxed income records, such as child support received, interest income, and veterans noneducation benefits, for you, and for your parents, if you are a dependent student

• Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (but not including the home where you live); and business and farm assets for you, and for your parents if you are a dependent student (check with your family and your bank for this information)

How do I apply for the FAFSA?

Let’s break it down, step by step.

Step 1: Create an FSA ID

Once you have your FASA ID, head over to the SA, but each person needs their own FAFSA ID.

Before you begin the FAFSA form, you should create an FSA ID.

Step 2: Begin Your FAFSA

Once you have your FAFSA ID, head over to the Federal Student Aid website. Log in as a student, and then follow the steps to complete the form. You will then create a saved pin which allows you to return to where you left off in your application.

Step 3: Complete the Student Demographics Section

Making sure you're filling out the right part is the first step in finishing this one. Be cautious to double-check that you're entering the information where it goes because the parent demographics and student demographics sections differ from one another.

The details on your Social Security card or Alien Registration Card should be entered precisely as they are. Typically, you only need to provide this data when completing the FAFSA for the first time. In the next years, this information should automatically fill in.

Step 4: Select Who Receives the Federal Financial Aid Awards

This is where you will select the colleges/university you are interested in. You’re allowed to send your FAFSA to up to 10 colleges. Even if you haven't heard back from a school you applied to, you should still add it. If you change your mind, you can easily add and delete schools later. Colleges will automatically disregard your FAFSA if you decide not to apply to any schools or if you don't get an acceptance letter.

Step 5: Choosing Whether You Are A Dependent or Independent?

Now for this part, you will need your parents' information. This must be included for dependent students, but not for independent students. Remember that for evaluating dependency, the FAFSA utilizes a different set of criteria than the IRS.

Step 6: We're almost done! Hold tight now you will complete the Parent Demographics Section

You must fill out the parent demographics section if your status is judged to be "dependent" (the majority of students fall under this category). It may be completed by either you or your parent and only needs basic information on your parents or parent (s).

Step 7: All About Them Taxes

This is still tied into step 6 for the parent's section. This is where you will fill out your parent's tax information. To make it easier, the FAFSA has an IRS Data Retrieval Tool (DRT), which automatically fills in your information. Now you don't have to use the tools you do have the option to fill it out manually and do whatever best suits you. Remember that even if your parents won't be paying for your college expenses, you must still give them financial information as long as you remain dependent.

Step 8: Sign, Submit, & Pray!

You made it to the end my friend! Now remember to electronically sign the application, and dependent students also require their parents to do so as well. Toward the end, you will receive an email confirmation letting you know your estimated EFC. Your eligibility for federal student financial aid is determined by your Expected Family Contribution (EFC), an index number. Your family's taxable and untaxed income, assets, and benefits are taken into account when calculating your EFC in accordance with a formula set down by law (such as unemployment or Social Security). Your eligibility for federal help and your financial aid award is determined by the EFC at the schools.

What If You Don't Receive Enough Financial Aid?

• Check-in With the Financial Aid Office to see if they have grants. Never settle for no your school financial aid is there to help you.

• Apply to Scholarships

• Apply for work-study

• You may have to apply for a loan I know it may be scary or a risk but heavily look into it. Before making it to your last resort. If you get your loan money, but then realize that you don't need the money after all, you may cancel all or part of your loan.