Financial Aid Time

The last BIG HURDLE for college bound seniors is upon us.....Financial Aid!!!!  

FAFSA = Free Application for Federal Student Aid 

Now that January is almost gone, I'm hoping that all college bound students have filed for their PIN (personal identification number) on the FAFSA website:

 http://www.fafsa.ed.gov

Remember, you must get a PIN ** and ** your parents need their own PIN.  Those PINs will be used throughout your entire time at college, so don't forget to record it somewhere.  If your parents have not finished their tax returns  (and most haven't), fill out the FAFSA with an estimated income (most families use last years numbers and then adjust them).  If you have applied to a private college/university you will also need to fill out the CSS Profile. 

I know, I've heard all the groaning and moaning from families about how complicated this process is.  Once you've done it, it becomes easier each time.  The key is to take your time and answer the questions.  I tell my students not to leave a space blank.  Write 0 if you need to...But do not leave a blank space.  Remember that your PIN is actually your signature. So do not forget to sign it before sending it in.  Colleges can ask for copies of your tax return for verification so be truthful on these forms....there are no shortcuts.  Once you have sent your FAFSA and Profile forms in, you will then get a response that shows an EFC (estimated family contribution).  This is a number that  the family is expected to contribute toward the students education.  This number helps the university give out financial aid to students in need.  Financial aid is determined by the cost of education minus what the family can contribute = need. 

Many high schools hold a Financial Aid Night.  I always recommend that families attend.  Schools usually have a financial aid officer from a local college at the event.  They can answer any questions you have and will update you on any changes.   Remember to keep copies of all forms sent in. 

As you jump over this last hurdle, remember that high school is winding down and you will soon be hearing from many colleges and universities.  Enjoy your last semester at high school and most of all....get your best grades ever!