Wednesday, January 20, 2010

Applying For Financial Aid - The FAFSA


With the start of a new year comes new opportunities, new resolutions and the green light to complete your FAFSA for next school year.

The FAFSA (Free Application for Federal Student Aid) is the most common aid application used by colleges and universities. Depending on the schools that you have applied to, additional financial aid applications outside of the FAFSA may be required. It is recommended that you speak with the Financial Aid Office at the colleges you have applied to if you have any questions about what aid applications are required.

At Siena College, the only aid application that is required is the FAFSA.

To help you prepare for completing your FAFSA, let’s review some FAQs that our office receives during this time of year.

Is the FAFSA an application for the student or parent?

The FAFSA is the student’s financial aid application. Although financial information is required for both the student and parent, the application is being filed for the student. For example, if there are two students in the household that will be attending college, each student will submit their own FAFSA application.

Why can the FAFSA not be submitted before January 1st?

For students that are planning on attending college in the fall, your FAFSA will be completed using tax information for 2009. Therefore, you must wait for 2009 to come to a close before completing your FAFSA.

What type of information will you need to provide on my FAFSA?

The FAFSA requests information for both the student and parents. This information includes a combination of demographic and financial information. A large majority of the financial information will come directly from the 2009 tax forms.

What is the best way to complete and submit my FAFSA?

The fastest way to complete your FAFSA is online at
www.fafsa.ed.gov. Completing your FAFSA online provides you with several benefits including; online help, faster processing time and the ability to submit corrections if necessary. By submitting your FAFSA online, you and your parents will need to “sign” your FAFSA using your FAFSA PIN. You and your parents can apply for a PIN at www.pin.ed.gov.

When should the FAFSA be filed by?

It is recommended that your FAFSA is submitted by February 15th. By completing your FAFSA by this deadline it will allow enough time for your FAFSA to be processed and sent to the schools that you have listed on your FAFSA.

Remember to take your time when completing all aid applications. By reading the applications carefully and gathering the required information ahead of time you will be better prepared to submit your applications on time.

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