I'm currently a high school junior and starting to prepare for college applications and financial aid. I've heard a lot about the FAFSA being really important, but I'm not sure how to guide my parents through the 'Parent Section' of the FAFSA. What information do they need to provide, and are there any common pitfalls we should watch out for? I want to make sure everything is filled out correctly so that I can maximize financial aid opportunities. Any tips or personal experiences would be super helpful!
Navigating the FAFSA can indeed seem daunting at first, but with some accurate knowledge, you can guide your parents through the process efficiently. Let's see what the 'Parent Section' of the FAFSA entails:
Your parents will need to start by creating an FSA ID, just like you. This will serve as a legal signature and should be kept in a safe and memorable location.
The key details they will need to provide in the Parent Section pertain to demographic and financial information. The demographic information includes details like their Social Security Number, date of birth, and legal names; make sure these are all accurate. The financial information includes data from their tax returns, untaxed income records, and current asset records among others. For the 2025-2026 FAFSA, you would use your parents' 2023 tax return information which should be already complete.
Make sure they also know their tax filing status and the type of tax return form they used as well. This is important to fill out the FAFSA accurately. If they're unsure, they can review their tax documents to double-check.
FAFSA no longer uses Expected Family Contribution (EFC) but uses the Student Aid Index (SAI) instead. The main differences between EFC and SAI include SAI can be as low as negative $1,500, and SAI is not divided based on the number of students in college within a family.
You might encounter some common pitfalls while completing the form. For example, your parents might accidentally enter their retirement and home equity as an asset (FAFSA doesn't consider these as reportable assets). Also, they should include all the people in their household for whom they provide more than half of their financial support.
While the FAFSA can seem tedious and confusing, remember that many others go through the same process successfully. It takes some time and patience, but the result can be hugely beneficial in terms of financial aid received. Don't shy away from seeking help from your high school counselor or
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