Introduction

While federal aid comes in many different forms, it’s unlikely that you will be receiving any if you do not know how to fill out the forms properly. So, to kick off the first of the federal aid articles I would like to explain the application process a bit in detail.
The first step in applying for federal aid is filling out the FAFSA (Free Application for Federal Student Aid). The FAFSA may be filled out electronically or by hand and snail mailed. I highly advise filing out the FAFSA electronically for three reasons. First you will receive very prompt feedback. Secondly, your profile and account information will be accessible during the current year if you would like to make changes. Third, when applying during the following year your account information will be automatically transferred.

Eligibility Requirements

1. Eligible for postsecondary education
a. GED
b. Diploma (most high school offices send this information in)
c. Completion of an Ability to Benefit (ATB test)
d. Other standards that have been set by the state
2. Enrolled as a student working toward a degree program
3. US Citizen or Eligible Non citizen
4.Proper Social Security Number
5.Comply with Selective Service registration (male applicants)
*Note: you have limited eligibility for federal student aid while incarcerated.

The PIN

The first step before filling out the FAFSA, is for the student and a parent to each apply for a Personal Identification Number (PIN). The PIN acts like an electronic signature that both the student and parent use to sign the FAFSA form. It takes up to three days to receive the PIN number, but once received it is CRUCIAL not to lose it or give it out. There is no way to retrieve a PIN you have to reapply for another. The PIN is the only way to access the results of your application and the only way to retrieve the previous year’s form when reapplying. When the PIN is lost so is this information. However, once applied for a PIN you never have to apply for one again. All of this may be done here

Tax Return

While it is recommended, it is not necessary that your tax return be completely (or partially for that matter) filled out. However, it is advisable to have the form opened for reference. The FAFSA can be completed and submitted with estimated numbers, but often the form makes reference to the 1040 you will be using. For those of you with a complicated tax return situation I would recommend waiting to fill out the financial aspects of the FAFSA until you have your tax return filled out. For those of you with parents who have complicated financial statements I would HIGHLY recommend asking them to file earlier in the year (January & February).

Forms and Instructions:

-1040 & Instructions
-1040A & Instructions
-1040EZ & Instructions

Submission

After you fill out the FAFSA application, sign it with your PIN and submit. You will normally receive a response in a few days with your Student Aid Report (SAR) and Expected Family Contribution (EFC). Your application is then also relayed to your school for financial aid determination.

Information for this article was found here

Additional Information

There can be many forms to fill out before starting your college career.  Look online for tips on grants for education to help pay for your college education. While you’re at it, you can also find great prices on school software that you may need for your classes.