I'm prepping for college apps, and I'm trying to wrap my head around financial aid forms like the FAFSA. It's a little confusing to me who exactly is responsible for filling it out. Should I, as the student, be handling the entire application, or is it something my parents need to fill out? Or do we both have to work on it together? I'd love some clarity on this because I want to get started on it early!
The Free Application for Federal Student Aid (FAFSA) requires information from both the student and the parent(s), so it truly ends up being a team effort. Typically, the process goes like this:
1. The student starts by creating their own FSA ID, a username and password combination that gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Be sure to keep these credentials in a secure place, as you'll need them each year you apply for financial aid.
2. The student will then start the FAFSA form online using their FSA ID, and they'll fill out the student information section. This includes questions about your personal details, academic status, and some financial aspects.
3. Then comes the parent(s)’ part. The parent also needs an FSA ID, which they'll use to digitally sign the FAFSA form. The parent will fill out the parent demographic and financial information section. This will include information about income, tax returns, investments, and other financial specifics.
4. Both the student and the parent will need to sign and submit the form using their respective FSA IDs.
Since the FAFSA form does require a good amount of detailed financial information, it can be helpful for the student and the parent(s) to work together to fill it out, particularly if the student is not familiar with some of the financial aspects. To budget your time, you might consider setting aside a few dedicated sessions to complete the FAFSA form together.
Importantly, you need to fill out the FAFSA every year you’re in college, so it's good to familiarize yourself with the process now. As they say, practice does make perfect!
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