If you have a teen who is planning on going to college next year or even just thinking about going, the most important thing you need to know about the FAFSA is... DO IT!
The Free Application for Federal Student Aid will determine your child's eligibility for student financial aid and is, as it states, free. There is no cost to fill it out. In fact, if you don't fill it out, you could be throwing free money out the window!
Some "agents" or businesses will try to get you to pay them to fill it out for you. Don't fall for it! It really is not complicated and you CAN DO IT yourself. It can be helpful to attend a free workshop or information session about how to pay for college though, especially any that are offered by your child's high school.
You must fill out the FAFSA every year previous to the year your child will or might attend college. You can start filling it out on Oct. 1st. The Massachusetts state deadline to complete the FAFSA is May 1, 2020. Some colleges and universities have their own deadline, usually in February, March or earlier, so check with your child's preferred school(s) for specific deadlines. You may think you have plenty of time if your deadline isn't until the Spring, but it's really important to do it as early as possible because schools give out money on a first come first serve basis and when it's gone it's gone. So DO IT now!
The first time you fill it out it should only take 20 minutes or so. You must provide tax information for your child and both parents, so have your previous year's tax return handy when you start. The FAFSA will link to the IRS website, though, so you will only have to provide some of the information. Other information will be filled in automatically from the IRS website. This makes it so much easier! Next year when you fill it out it will not take as long because some of your information will be saved.
Within a couple weeks of filling out the FAFSA you will get an EFC. This is your expected family contribution to your child's education, but it does not mean that is what you will have to pay out of pocket. This is the figure that schools use to determine what grants or scholarships your child might be eligible for and what the government uses to give out federal grants and loans.
Each school that you indicate on the FAFSA will send your child a financial aid package outlining any grants, scholarships, and/or loans they are offering based on their eligibility by completing the FAFSA.
You might be thinking...
"My child doesn't know where they are going to school. Can we still fill out the FAFSA?"
YES! You can enter up to 10 schools into the form. You must put at least one. Enter any schools that they have applied to or are considering.
"I think we make too much money. Can we still fill out the FAFSA?"
YES! You don't know how much aid your child is eligible for unless you fill it out. 'Nearly every student is eligible for some form of financial aid. Students who may not be eligible for need-based aid may still be eligible for an unsubsidized Stafford Loan regardless of income or circumstances.' (https://en.wikipedia.org/wiki/FAFSA) You could be throwing away free money if you don't fill it out.
DON'T DELAY! Go here now to start filling out the FAFSA: https://studentaid.ed.gov/sa/fafsa
Get more information here: https://studentaid.ed.gov/sa/fafsa/filling-out/help
There will be free workshops designed to help you fill out the FAFSA in November. Fitchburg State University will be hosting one on November 3, 2019, Mount Wachusett Community College in Gardner will host one January 7, 2020, and Worcester State University will host one November 16, 2019. CLICK HERE for more information and how to register for this free event.
Need more help in filling out the form? Visit the FAFSA Help page.
Laurie Ritrosky is the publisher of Macaroni Kid Westfield-Southwick, Mass.
