Ah, deadlines. The sworn enemy of students across the nation. When you’re busy with classes, extracurricular activities, and a social life in whatever time you’ve got left, it’s easy to lose track and let due dates start whooshing by. All of a sudden, your U.S. history paper is due at midnight, and you still don’t know Madison from a minuteman. We get it.
Nevertheless, we’re here to point out a few critical deadlines that you really shouldn’t miss: those to do with the Free Application for Federal Student Aid (FAFSA®). By submitting your FAFSA late, you might be forfeiting big money that can help you pay for college. Luckily for you, you’ve got just three types of deadlines to stay on top of. Now if only your Founding Father flashcards were that simple.
Here are those three deadlines:
1. The College Deadline
The first type of deadline comes from colleges themselves, and—spoiler alert—it’s typically pretty early. These deadlines vary from school to school, but they usually come well before the academic year starts. If you’re applying to multiple colleges, be sure to look up each school’s FAFSA deadline and apply by the earliest one.
The 2017–18 Free Application for Federal Student Aid (FAFSA®) will be available on October 1, 2016. Here are a few things to look out for after you submit your FAFSA:
1. Your FAFSA confirmation page is not your financial aid award.
After you complete the FAFSA online and click “SUBMIT,” you’ll see a confirmation page like the one below. This is not your award package. You’ll get that separately from the school(s) you apply to and get into. Your school(s) calculate your aid.
The confirmation page provides federal aid estimates based on the information you provided on your FAFSA. It’s important to know that these figures are truly estimates and assume the information you provided on the FAFSA is correct. To calculate the actual amount of aid you’re eligible for, your school will take into account other factors, such as the cost to attend the school. Additionally, these estimates only take into account federal aid and not outside scholarships or state and institutional financial assistance you may also be eligible for.
Need to fill out the FAFSA® but don’t know where to start? I’m here to help. Let’s walk through the process step by step:
1. Create an Account (FSA ID)
Student: An FSA ID is a username and password you need to log in to and sign the FAFSA online. If you don’t have an FSA ID, get one here ASAP. It takes about 10 minutes to create an FSA ID. If this will be your first time filling out the FAFSA, you’ll be able to use your FSA ID right away to sign and submit your FAFSA online. If this is not your first time filling out the FAFSA, you’ll need to wait 1–3 days before you can use your new FSA ID (there’s an account verification process).
IMPORTANT: Some of the most common FAFSA errors occur when the student and parent mix up their FSA IDs. If you don’t want your financial aid to be delayed, it’s extremely important that each parent and each student create his/her own FSA ID and that they do not share it with ANYONE, even each other.
Student and a counselor at College Depot, Phoenix Public Library.
This past spring, I had the pleasure of traveling out to Phoenix, Arizona to meet with various counselors, mentors, and college access professionals to learn more about how they are getting ready for the upcoming FAFSA season. With the FAFSA launching earlier this year on October 1, many of you have started to organize events and prepare to help students and parents through the financial aid process. As a former college counselor, my biggest piece of advice to you is to familiarize yourself with the Financial Aid Toolkit. It is a goldmine of information that can help answer many of your questions and assist with your financial aid planning process. Also, here’s some advice from a few of our key partners on how to make this process fun and exciting.
There are two exciting changes coming to the Free Application for Federal Student Aid (FAFSA®) process this year.
1. The 2017–18 FAFSA will be available earlier.
You can file your 2017–18 FAFSA as early as Oct. 1, 2016, rather than beginning on Jan. 1, 2017. The earlier submission date will be a permanent change, enabling you to complete and submit a FAFSA as early as October 1 every year.
2. You’ll use earlier income and tax information.
Beginning with the 2017–18 FAFSA, you’ll be required to report income and tax info from an earlier tax year. For example, on the 2017–18 FAFSA, you—and your parent(s), as appropriate—will report your 2015 income and tax info, rather than your 2016 income and tax info.
1. We get this question so many times a day! Your school will disburse (pay out) your financial aid, not the federal government. Since each school has a different timeline for awarding aid, you’ll have to call your school’s financial aid office to find out the specific date.
@FAFSA DO YOU THINK THAT A COLLEGE EDUCATION GROWS ON TREES?????? I NEED MORE MONEY????
Your child is going to college or career school—that’s great! But you may have questions about how to pay for it. If your child hasn’t completed the Free Application for Federal Student Aid (FAFSA®), ask your child to complete it today. Completing and submitting the FAFSA is free and quick, and it gives your child access to the largest source of financial aid to pay for college or career school, including loans YOU can receive.
After applying for financial aid, your child may receive an aid offer from the school that includes grants, federal work-study, scholarships, school and state aid, and federal student loans. Those federal loans may include a Direct PLUS Loan that you can get as a parent borrower. PLUS loans are an excellent option if you need money to pay your child’s education expenses, but you’ll want to make sure you understand the loan terms before you get one. Once you’ve taken out a PLUS loan, you must repay it, even if your child doesn’t complete their degree, can’t find a job related to their program of study, or if you or your child are unhappy with the education you paid for with your loan.
Your last high school prom is over and for most of you, graduation has come and gone. Yes, freedom and plans for a fun-filled summer are just around the corner. Before you know it, you’ll be loading up your belongings in the family minivan and heading off to college. You’re so ready, right? Well, maybe not. Here are some tips for things to do this summer before you head off to college.
1. Make sure your school has your financial aid ready for you
Early summer is a great time to check with the financial aid office at the school you plan to attend to make sure your financial aid is and all paperwork is complete. This will help you avoid any unnecessary surprises or financial aid delays when you arrive on campus.
Mistake #1: Letting your contact information become out-of-date
Moving away from campus?
Changing your cell phone number or e-mail address?
Make sure you let your loan servicer know. Their services are provided free of charge, but they can only help you if they can reach you.
Mistake #2: Paying for student loan help
You may have seen an ad on Facebook, or gotten phone calls or letters from companies offering to help you lower your payment or apply for loan forgiveness for a fee. If someone asks you to pay for these services, you are not dealing with the U.S. Department of Education or our loan servicers.
We don’t charge application or maintenance fees. If you’re asked to pay, walk away (or hang up).
So you filed your FAFSA and got accepted to a college. Congrats! Your school will send you an award letter that lists different types and amounts of financial aid you’re eligible for. These types of aid could include grants, scholarships, work-study funds, or student loans. You might see two types of federal student loans in your letter: Direct Unsubsidized Loan and Direct Subsidized Loan. Some people refer to these loans as Stafford Loans or Direct Stafford Loans or just subsidized and unsubsidized loans. It’s important you know the basics about these two types of loans before you sign to accept either of them.
We know that preparing to become a teacher can be expensive. Sometimes it’s tough to pay all of the bills on time, including student loans. But there are resources and programs out there that teachers can take advantage of and we’ve gathered them all here in one place just for you.
Under certain circumstances, you can get your federal student loans forgiven or even canceled.
As a graduate student, I‘m no stranger to filing the Free Application for Federal Student Aid (FAFSA®), and when I filed my 2016-17 FAFSA, I was prompted to create an FSA ID—the username and password you need to log in to the FAFSA. I followed the step-by-step instructions, and voila! I easily created my very own FSA ID in no time!
More than 30 million FSA IDs have been created, and people, like me, have used their FSA ID more than 146 million* times. With any new process, there are some myths floating around about creating and using an FSA ID. Let’s tackle some of those right now…