Why Fill in the FAFSA?
Why fill in the FAFSA?
To help pay for college!
FAFSA Basics
What is the FAFSA, anyway?
The FAFSA is the Free Application for Federal Student Aid, which U.S. citizens and eligible noncitizens (such as permanent resident card holders) fill out to apply for financial aid from U.S. federal and state governments. It is the key that unlocks federal grants, work-study, and loans.
Middle & High Income Students
But wait…it’s only for students whose family earns less than $50,000, right?
Wrong.
Some financial aid programs, including a number of colleges, require the FAFSA to distribute their own non-need based aid. FAFSA info may also be used as a deciding factor for students on the borderline for merit scholarships. In addition, families should bear in mind that not all colleges cost the same. An $80,000 price tag is awfully expensive and many students may qualify for some need-based aid at those high sticker price colleges.
FAFSA Checklist
Let me at it - when can I apply and what do I need?
The FAFSA opens Oct 1 and apply ASAP while funds are still available. You can fill out the form online or via the myStudentAid mobile app.
Student AND parent will need:
Social Security Number
Alien Registration Number (if you are not a U.S. citizen)
Federal income tax returns, W-2s, and other records of money earned (2020 records for 2022-23 academic year). Note: You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.
Bank statements and records of investments (if applicable)
Records of untaxed income (if applicable)
FSA ID to sign electronically
International Students
Should international students fill in the FAFSA too?
No.
International students cannot get U.S. federal funds, so don't fill out the FAFSA. They may still be eligible for institutional or aid from other programs. Colleges may require international students to fill out the CSS Profile, IDOC, or even their own form. Check college websites carefully for details.
CSS Profile
Do just international students fill out the CSS Profile?
No.
Over 300 colleges use the CSS Profile to distribute their own funds. All students should check the Participating Schools & Programs list to see whether they need to fill out the Profile in addition to the FAFSA. (Top tip: It’s like the FAFSA…only nosier!)
Recap
So, I really should fill in the FAFSA?
Yep!
But it looks hard. Where can I get help?
There are lots of answers to FAQs on the Federal Student Aid website along with a chat bot and helpline number in case you get stuck. uAspire is a non profit organization that has information videos and free virtual sessions to help students fill in the form.
And, as always, I am here to answer any questions you may have, so send me a message.
Need more advice? Book a free 30-minute consult.
