Our recent discussion on the topic of preparing for college, created a lot of great discussion so I asked my friends at CollegeAnswer.com to provide some additional guidance and information on the topic. I've also asked them a series of other questions that are a result of parents or teens emailing me directly and they have committed to putting together answers to everything I've asked. And they thought they would get away with just creating a version of their site for me at PAYjr.CollegeAnswer.com....lol. No, they really have been great and seem to really enjoy putting together information and answers about these topics so don't hesitate to drop me a line with anything you might want to ask them directly...I'm officially your College Prep "connection". ;)
December is the time to complete any/all scholarship applications, college finance forms, and paperwork needed to complete Free Application for Federal Student Aid (FAFSA).
Here are some highlights regarding the three applications.
Scholarship Tips:
- Be honest about your grades, experiences, memberships, family finances, etc.
- Carefully follow instructions!
- Observe deadlines and allot plenty of time for all requirements.
- Proofread EVERYTHING before you send it.
- Find creative ways to present yourself.
- Send thank you notes.
College Financial Forms, Helpful Terms:
- Award Letter – An official document issued by a financial aid office listing all aid awarded to the student. This letter includes information about the Cost of Attendance and terms/conditions for financial aid.
- Cost of Attendance (COA) – The total, all-inclusive cost of attending a postsecondary institution for one academic year.
- Student Aid Report (SAR) – A report generated by federal government and sent to students summarizing financial and other information reported on the FAFSA.
- Expected Family Contribution (EFC) – The amount a family is expected to contribute to a student’s education based on family earnings, assets, savings, size of family, and number of children attending college.
- Financial Aid Eligibility – Financial need is the difference between COA at a college and the EFC.
FAFSA and Beyond:
- Ensure you have a Social Security Number (SSN).
- Request a PIN at www.pin.ed.gov. This will expedite your process and tracking.
- Pay attention to state and college deadlines and requirements as they may differ.
- Complete a FAFSA Web Worksheet to help gather all necessary items for the official FAFSA.
- Complete the FAFSA via the Internet for quicker service. www.FAFSA.ed.gov
- Review your Student Aid Report (SAR) and make corrections and changes if necessary.
- Compare award letters from your chosen schools to determine what will work best for you.
To receive additional FREE tips visit: http://PAYjr.CollegeAnswer.com
Earn Smart. Spend Smart. Apply for College Smart.
Dave
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2 comments:
Can you give me more information about the FAFSA? It sounds scary and time consuming. Do I have to see an accountant?
ahh, completing a FAFSA is a piece of cake!. It takes me 15 minutes tops to complete. Most schools provide the application online and most of the questions are simple yes/no answers. If you are a dependent, make sure you have your parent's tax return from last year. If you are not a dependent, just have your tax return handy.
Here is a quick link to a FAFSA worksheet to see what you will be asked:
http://www.fafsa.ed.gov/fafsaws78bw.pdf
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