The FAFSA

The FAFSA is the most important form you’ll fill out when paying for college. Filing the FAFSA (Free Application for Federal Student Aid) is a requirement for all Federal and State aid. The state deadline for filing is a date to be aware of and not miss. This is potentially a large amount of aid that will help you finish college with as little debt as possible.

Starting January 1st of your senior year in high school you and your parents should gather the needed information and file the FAFSA. The FAFSA will use tax and other information from your family to calculate your EFC (Expected Family Contribution). Federal and State Governments use this number to help distribute various grant programs equitably.

Each year you attend college you will need to file a FAFSA and each year you will receive a new EFC. A student’s eligibility for certain types of aid may change throughout their college career, and often does.

The easiest and most popular way to file the FAFSA is on the web. Filing online is faster, easier, helps prevent common mistakes and is also safe and secure.

PIN

If you file online, a Personal Identification Number (PIN) is needed to electronically sign the FAFSA. Keep your PIN in a safe spot because it is needed every time you file the FAFSA. Parents should also remember their PIN number. Not only will the parents need their PIN for the current student’s FAFSA, but the parents would also need it to sign the FAFSA of any siblings that will attend college in the future.

FAFSA On The Web Worksheet

Many people prefer to have a guide to filling out the FAFSA with them as they go online to file. THE FAFSA on The Web (FOTW) Worksheet is just that. It is a pre-application worksheet that let’s you sit down and answer some of the questions on paper before going online to complete the FAFSA. The FOTW Worksheet follows the same order as the actual online version of the FAFSA and can help make the filing process easier.

FAFSA4Caster

With the FAFSA playing such a key role in the paying for college process why wait until your senior year before taking a look at it? The FAFSA4Caster allows students and parents to get an early estimate of their federal student aid eligibility. The FAFSA4Caster also can help families put together a financial plan to pay for college by showing the financial aid process and offer more information on other ways to pay for college.

Another advantage of FAFSA4Caster is that information you input on FAFSA4Caster can be transferred to the FAFSA on the Web when you are ready to file.

Always remember if you have a question about anything on this site, feel free to drop us a note at outreach@ismloans.org and we’ll be happy to answer or elaborate on an item that is confusing or unclear.