How to Fill Out the FAFSA® Form When You Have More Than One Child in College

Having one child who is heading to college can be stressful, but having to help multiple children at the same time can feel like too much to manage. While I can’t save you from a forgotten application deadline or the “how to do your own laundry” lessons, hopefully, I can help make the financial aid part of the process run more smoothly with these tips:

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The Parent’s Guide to Filling Out the FAFSA® Form

While the Free Application for Federal Student Aid (FAFSA®) form is the student’s application, we know that parents often play a large role in the process. After all, students who are considered dependent have to provide parental information on the FAFSA form anyway and must have a parent sign it. While we recommend that the student start his or her own FAFSA form, we know that’s not always what happens. With that in mind, we wanted to provide instructions for parents who are starting the FAFSA form on behalf of their child so you can avoid running into issues completing the form.

If you are a parent completing the FAFSA form for your child, follow these 8 steps:

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3 Types of FAFSA® Deadlines You Should Pay Attention To

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 10-page term paper is due in an hour, and you’re only on page 5 (with the help of 26-point type and triple line spacing). 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®) form. By submitting your FAFSA form late, you might be forfeiting big money that can help you pay for college.

 

Here are those three deadlines:

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4 Loan Forgiveness Programs for Teachers

teachers do you have student loans?

1. Public Service Loan Forgiveness (PSLF) Program

Forgives the remaining balance on your Federal Direct Loans after 120 qualifying payments (10 years).

View complete program details at StudentAid.gov/publicservice.

Here are some highlights:

  • This program has the broadest employment qualification requirements of the federal programs listed—it doesn’t require that you teach at a low-income a public school, or even be a teacher. Most full-time public and private elementary and secondary school teachers will meet the employment requirements.
  • You must have Direct Loans. If you have other types of federal loans, like FFEL or Perkins Loans, you must consolidate in order for those loans to qualify. To check which types of loans you have, log in to StudentAid.gov.
  • You should repay your loans on an income-driven repayment plan if you want to get the most value out of the program. You can apply for an income-driven repayment plan on StudentLoans.gov.
  • In order for payments to count toward the 120 needed to get forgiveness, they need to be full payments, made no more than 15 days late, and made after October 1, 2007.
  • Loan amounts forgiven under PSLF are NOT considered taxable by the IRS.

To confirm whether you qualify for the program, submit this form ASAP.

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How to Fill Out the FAFSA When You Have More Than One Child in College

Got 2 or more kids attending college

Having one child who is heading to college can be stressful, but having to help multiple children at the same time can feel like too much to manage. While I can’t save you from a forgotten application deadline or the “how to do your own laundry” lessons, hopefully, I can help make the financial aid part of the process run more smoothly with these tips:

How many FSA IDs will my children and I need? How many FAFSAs do we have to complete?

An FSA ID is a username and password combination that serves as your legal electronic signature throughout the financial aid process—from the first time your children fill out the Free Application for Federal Student Aid ( FAFSA®) until the time their loans are paid off. You AND each of your children will need your own FSA ID. Parents and students can create their FSA IDs here.

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Which College Is Right for You? 3 Questions to Ask Yourself

blog-which-college-is-right-for-you

“So, where are you going to school next year?” Sometimes it feels like this is the only question people ask you. Maybe you’ve been dreaming about a certain university, or maybe you have no idea what you even want to do with your life, let alone where to go to school. Choosing the right program is one of the biggest decisions of your life (no pressure). But before you take the plunge, here are three questions to help you figure out “What’s best for me?”


1. Do I know what I want to do with my life?

If you can answer a resounding “Yes!” to this question, I would suggest you stay open to new possibilities. For example, I really thought I wanted to be a psychologist, so I found a great school with a great psychology program. However, after my first semester I realized I liked psychology, but I loved writing and teaching. I switched my major to English Writing & Rhetoric; became a published author; taught at inner-city schools; and now I work for the U.S. Department of Education. My point is you never really know where life will take you. So if you’ve always wanted to be a doctor, great: get into the best program you can—just don’t close yourself off to trying new things.

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5 Financial Aid Tips for Parents (from a Parent)

Financial Aid Tips for Parents

Happy New (School) Year! The beginning of the school year is always an exciting time in our home. For my kids, it’s the anticipation of going back to school, making new friends, and the start of soccer! For my husband and me, it’s the joy of getting back to a routine.

This year is slightly different.  Our daughter, Sahana, started her senior year in high school.  Over the summer, we had fun visiting schools.  During school presentations, we learned about academics, clubs, and traditions.  The one thing we did not hear a lot about was the cost of each college and the financial aid options available.  Yes, they usually did say to fill out the FAFSA® (Free Application for Federal Student Aid), but no one explained why we should fill out the FAFSA or the steps needed to secure financial aid.

As Sahana embarks on her journey to college this fall, we will also be focusing on how to pay for college.

As an employee at Federal Student Aid (FSA), I feel like I know a bit more about the federal financial aid process than the average parent does.  Nevertheless, even after working at FSA for five years, it is such a different experience when you’re the one going through the FAFSA process for the first time.  As I was creating a checklist for us, I thought it would be helpful to share it with other parents going through the same journey. 

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10 Myths About the FAFSA and Applying for Financial Aid

10 Myths

There’s so much information available about financial aid for college that it can be hard to tell the facts from fiction.  We’ve got you covered!   Here are some common myths about financial aid and the Free Application for Federal Student Aid (FAFSA®)—and we’ll give you the real scoop.

 

MYTH 1: My parents make too much money, so I won’t qualify for any aid.

FACT: The reality is there’s no income cut-off to qualify for federal student aid. It doesn’t matter if you have a low or high income, you will still qualify for some type of financial aid, including low-interest student loans. Many factors besides income—such as your family size and your year in school—are taken into account. Your eligibility is determined by a mathematical formula, not by your parents’ income alone.

TIP: When you fill out the FAFSA, you’re also automatically applying for funds from your state, and possibly from your school as well. In fact, some schools won’t even consider you for any of their scholarships (including academic scholarships) until you’ve submitted a FAFSA. Don’t make assumptions about what you’ll get—fill out the application and find out!

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3 Types of FAFSA Deadlines You Should Pay Attention To

fafsa-deadlines

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.

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