I'm planning for college and I've come across the FAFSA form. I'm not entirely sure who is supposed to fill it out. Is it solely the responsibility of the student, or do parents have a significant role in the process as well? I'm also curious about any information I might need from my parents and whether there are certain deadlines I should be aware of. Any clarity on this would be really helpful as I start preparing my applications!
The Free Application for Federal Student Aid (FAFSA) is primarily completed by the student, but in most cases, parental information is also required, unless the student is considered independent according to FAFSA guidelines. Now, let's dive deeper.
For dependent students (the category most traditional-aged college students fall into), the FAFSA requires considerable input from the parent or parents, including tax information, asset details, and information about family size and number in college. If your parents are divorced, the FAFSA should include information from the parent who you lived with the most during the past 12 months.
You'll need your Social Security Number, as well as your parents' if you're a dependent. If you don't have one, instructions on the FAFSA will guide you. You'll also need tax and income information which would be from your parents' tax returns if taxes are filed or wage statements if not.
As for the timeline, the FAFSA opens each year on October 1, and the deadline for federal aid is June 30 the following year. However, each state and college may have different deadlines. Earlier submission is often better, as some aid is first-come, first-served. Be sure to check the deadlines for your individual state and the schools you're applying to.
Finally, don't forget to sign and submit the FAFSA once all sections are completed. You and your parent (if you're a dependent) will each need a FSA ID for this. You'll also use this login information for future years when you renew your FAFSA.
Good on you for starting this process early! It's a big step towards securing financial assistance for your college journey.
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