When is the right time to fill out the FAFSA?

[Planogirl]

We have a student going into his senior year of high school this Fall and we are trying to get everything done as soon as possible. We are looking into Pell Grants, scholarships and so on but our biggest problem is DS choosing a field of study and then of course possible schools. Him not being sure yet is making it difficult to apply for much just yet.

Anyway, if I understand FAFSA correctly, it gives you an idea of how much you are expected to pay out of pocket and how much aid might be available. I'm still studying it though so I might be offbase here.

Any information or experiences would be very much appreciated.

 

[wheelcap]

The easiest way to get through all of this "governmental financial aid MESS" is to go to the website -- fafsa.gov -- making sure to avoid all of the other sites and mail you get that promise to help you with it. They all want you to pay for what's free!?! Just go to the site, and it will step-by-step you through it; they even have you go through a step-by-step to determine what you'll need to go through the step-by-step application. In the end, it's really not too bad.

 

[ideascubed]

ASAP. One of my mentors said to do it the first day of January. Which means trying to figure out your tax return as possible. My mentor when her daughter was a senior, went into work where there was a computer at midnight just to jump on it. She filled out the forms as much as possible getting access info and just entered the necessary data when she got it.

I'm all for dual enrollment at the local college, because 1) drives up the GPA and 2) it's free and finally 3) the kids get a taste of things to come. Please remind your senior that the last semester DOES count and getting senioritis will be taken into account as a bad thing!

Take ACT as well as SAT, and don't forget about CLEP tests. Best of luck

BTW: Whichever college your senior decides on, please read university catalog from beginning to end and have your senior read it. Planning for college is like planning for a career, writing down all the classes you need, and semester it needs to be taken, gives your senior a huge leg up on what needs to be done. Nothing like having to take Biology 101, 102, and 103 which are all prerequisites in the semester you are graduating because of poor planning. Even if your senior doesn't know what the major will be, everyone has to take core classes and those can be planned out.

 

[msmayor]

The FAFSA form for the 2011-2012 school year won't be ready for completion until early January.

You can, however, prepare an estimate using the FAFSA Forecaster at the website where the actual FAFSA is completed:

http://www.fafsa4caster.ed.gov/F4CApp/index/index.jsf

Please be aware that the number generated by FAFSA, the EFC or Estimated Family Contribution, is NOT a hard and fast number. Its primary purpose is to determine eligibility for Federal grant money. It does not represent the maximum you will have to pay out of pocket for college, as many schools do not meet full need.

In addition, there are schools that determine their own estimate of what your need is by requiring the CSS Profile in addition to FAFSA.

Finally, prepare yourself for your EFC to be a number much bigger than you think. Many folks are surprised to see that number and can't understand why it is so large.

 

[Sparx]

You can fill it out as early as Jan 1st of 2011 for the 2011-2012 school year.

 

[My3kiddos]

You can start on it in January, but if you use estimated tax information you will have to submit a correction when you have exact numbers. If you are selected for verification the school will have you submit copies of your taxes to check them againt the FAFSA.

 

[MissBritt]

The FAFSA form for the 2011-2012 school year won't be ready for completion until early January.




Finally, prepare yourself for your EFC to be a number much bigger than you think. Many folks are surprised to see that number and can't understand why it is so large.

Agree and agree. The EFC when I started college was laughable, considering our family situation. Luckily, I had a chance to start DE courses as a sophomore and had many credits out of the way before graduation, for free. My sister had her technical degree in dental assisting before graduating high school because of DE, the next sister was half way through her AA by graduation, and the last sister will also have her AA by graduation for the same reason. SUCH an asset if it's available to you. You don't pay a penny for the tuition, lab fees, or books.

 

[Planogirl]

Thanks for the information. My mind is whirling but I understand that that's normal.

Agree and agree. The EFC when I started college was laughable, considering our family situation. Luckily, I had a chance to start DE courses as a sophomore and had many credits out of the way before graduation, for free. My sister had her technical degree in dental assisting before graduating high school because of DE, the next sister was half way through her AA by graduation, and the last sister will also have her AA by graduation for the same reason. SUCH an asset if it's available to you. You don't pay a penny for the tuition, lab fees, or books.

What does "DE" stand for? It's probably obvious but it's not coming to me.

 

[MissBritt]

Thanks for the information. My mind is whirling but I understand that that's normal.


What does "DE" stand for? It's probably obvious but it's not coming to me.

Dual Enrollment; many schools have contracts with local colleges to offer free courses to high school students, and the credits count towards both high school and college requirements.

 

[Planogirl]

Dual Enrollment; many schools have contracts with local colleges to offer free courses to high school students, and the credits count towards both high school and college requirements.

Oh yes, thank you. We have that too but it just didn't click.

 

[lastminutemom]

Also understand that FAFSA doesn't give you money, it just estimates your family's contribution. Many schools will meet the gap between your EFC (estimated family contribution) and the cost of attendance with a mix of grants and loans, but some will be mainly loans.

Unless you have a high stats kid, be very wary of out of state publics as they are not generally very generous with out of state kids.

Is you child a top 10 percenter? Will he be guaranteed a space at a flagship?

 

[SnowWtch]

Doing it in a January is a good rule of thumb. However, if there is a specific school you are interested in check with their financial aid office to find out their deadline for on-time. The state has an on-time listed on the FAFSA website but our university has an on-time for the school so we can start processing for the next year. Keep in mind that some schools will not process a FAFSA until the student is admitted. Some grant programs other than the Pell Grant are funds limited per school so the earlier the better in getting your FAFSA in. Good luck.

 

[tink576]

I agree, put it in your calander to fill it out on Jan 1st!

 

[2RussianAngels]

Even though you can't actually complete the form prior to Jan 1, you and your child should go on the fafsa site and get your PIN sometime in the fall, so you can "sign" the online form and not have to submit a signature page. Also, as a previous poster said, make sure you're on the FAFSA government site, which is free, not one that will charge you.

 

[FINFAN]

we give ourselves a Valentine deadline...no chocolate if the FAFSA has not been completed...seriously..it's very motivating, been done on time each year so far. If all goes well, the last kid should be done by 2016 and I can be done for good on the FAFSA.