“If it weren’t for the last minute, I wouldn’t get anything done.”
~Author Unknown
The admissions applications are submitted! Now what? Wait until April 1st. to see if you were accepted?
Not quite. The second round of applications (for Student Financial Aid) begins now. And now is the time to submit your Free Application for Federal Student Aid (FAFSA).
The (In)Famous FAFSA
Typically, families are scrambling to gather their financial data for the 2009 tax year so that they can prepare the FAFSA for submission. While many of us would like to forget about the financial ups and downs of the last few years, colleges and universities are ready to use that information to the fullest extent of the law!
The FAFSA form for the 2010-2011 school year is now available online. It is with this form that students apply for need-based financial aid each and every year they plan to attend. Yes, EACH AND EVERY YEAR!
Procrastination Can Hurt You
“Procrastination is, hands down, our favorite form of self-sabotage.”
~Alyce P. Cornyn-Selby
I used to work in the financial aid office of a private university several years ago, and I cannot tell you how many shell shocked students I saw in the month of March, each and every year.
Why? They had simply forgotten to get their financial aid renewal forms in on time and then had to face some daunting money issues for the upcoming school year.
Many families end up waiting to file their financial aid applications forms until after their taxes are done.
Do Not Wait – Be An Early Bird!
In my experience, it is more important to get the forms (new or renewal) in on time, than to have them be filled out with completed tax information.
It is better to estimate the financial information based on the previous tax year (2008 in this case) and get the forms in on time, than it is to get all of the (2009) numbers verified before putting them on the forms.
Be Aware Of Your College’s Requirements
Also check with the schools you have applied to (or are enrolled at since the Financial Aid deadlines for new and returning students are usually different) to validate the deadlines and number and types of forms you need to file for consideration for financial aid.
Every school asks for the FAFSA (federal form required by all colleges) and several will ask that you file the CSS Profile (institutional form required by some colleges). Certain schools may even ask that their own institutional financial aid forms be completed.
The simple message is: Get your forms in ON TIME! Don’t be guilty of procrastination, or …
“A year from now you may wish you had started today.”
~Karen Lamb
