How to fill out a financial aid form

With the rising cost of higher education, receiving financial aid is a vital part of the higher education experience for many families. It may seem overwhelming to understand what one needs to do to in order to fill out a financial aid form. With a little guidance, a person will be well on his way to get the financial aid needed to finance his education.

Free Application for Federal Student Aid (FAFSA)

Students who wish to apply for financial aid must first fill out the FAFSA (Free Application for Federal Student Aid. This form is evaluated and a family's EFC (Expected Family Contribution) is estimated. This estimation tells the student how much he is expected to pay for his education, and how much can be covered by the financial aid. Students can access this information by using their FAFSA PIN on the FAFSA website. Most universities will require this form to be filled out before any financial aid is considered.

Taxes, savings and other monies

Filling out the FAFSA requires that the students provide tax and bank statements. It requires students to give information on any investments, trust funds or other monies which are on their names. The same information is required for students under the age of 24. Students should ask their parents whether there is any savings in their name which they did not know about. Proof of these incomes may be required for further evaluation later in the process.

College and university choices

Students are required to give their name and their FAFSA code for potential colleges and universities when they fill out the form. This information can be found on the FAFSA website. If, for some reason, this information is not on the website, the students should contact the school of their choice and ask them for the code. FAFSA will send the EFC estimation to every school which the student has listed.

Apply early

It is important that students seeking financial aid fill out their FAFSA form early. Many schools offer aid on a first come, first served basis. Hence, the earlier the FAFSA application is received, the better financial aid options will be available to the students. Final word
Information about the FAFSA deadline can be found on the form and is updated yearly.