FAFSAdness | brokeGIRLrich
The FAFSA was always a really horrible, miserable thing to me that seemed utterly pointless when I was in high school and college. My parents were solidly middle class and helping to pay for my education, so the amount of government assistance I received was always a big, whopping zero. I think that there were was even a year or two in college and grad school when I **gasp** didn’t fill the blasted thing out.
Also, I always saw it and confused it with FIFA – which is like the national soccer association and a lot more fun.
To begin with FAFSA stands for Free Application for Federal Student Aid. It’s just a big, long form that makes you try to figure out what you’re worth and whether or not the government thinks you’re worth any of their money (that answer is probably no). You also need to fill this form out as a high school senior to pretty much have any chance of getting financial aid anywhere – a few scholarships, as well as your chosen college or university, require it.
It’s pretty clear that if you are from a low-income family, the FAFSA is your friend and you should make sure you fill it out as soon as it’s available. The merit based scholarships at your chosen school are often awarded as applications come in and once the money is gone, its gone, so you want to be sure to be one of the early birds in this case.
To get ready to fill out this beast, you’ll want to make sure you have your Social Security number or alien registration number, most recent income tax forms and W-2s, bank statements and any investment records and your federal student aid PIN (you can get that here). Most students will also need all this info for their parents, unless you are an older, independent student (although you’ll just need the one PIN).
FAFSA Advice from a Sock Puppet
One article I read pointed out that it’s important to realize when you’re applying for FAFSA, that the government does not view college as an entitlement – up until you graduate high school, education is something that you are entitled to, but a college education is not. However, the government does agree that a college education is extremely helpful, and that is why they created this funding system. So if you’re hoping for a free ride – place your bets elsewhere, but make sure you still turn in the form.
And for more tips on how to get through college debt free, there’s still a few days left to win a copy of Zac Bissonette’s Debt-Free U. Seriously, check out this FAFSA-related plug to Zac’s book over at Free Money Finance. Giveaway ends on 1/31.
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Yeah, I was one of those who didn’t get anything from filling out the FAFSA, but all the local town scholarships helped a lot. Just more paperwork to fill out.
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I got a government loan throughout school, (in onatrio its called OSAP) which was a total of almost $10,000 a year!!! They would really give money to anyone! I sadly didnt realize in college how long it would take me to pay that back once I blew it! So I went shopping, out for dinner, pretty much used it for anything but school!! Really regretting getting that now!
I definitely had several friends who didn’t think twice about how they used their loan money and really regret it now. I was like a crazy hermit once I started taking on student loans and I’m mostly OK with having made that decision.
It’s especially complicated for self-employed people who often don’t have enough information to get the FAFSA done on time! Oh, well. I’ll just keep saving.
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I can’t even imagine what a tax nightmare being self-employed must be.
I hated doing the FAFSA when I was in school. It was my least favorite thing.
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I guess on one hand, at the time I was applying to college and thereafter, my parents were sufficiently poor that the FAFSA worked for me. I was told that even if your parents had a little something, if you got your application in early, you’d still be qualified for something. It’s as time goes on, they don’t give as much away. Also, I’ve seen some scholarships require that you file for FAFSA first for them to understand your need. Thanks for sharing and linking up with Countdown in Style! Don’t forget to come back on Friday to see if you were featured!
~~April~~
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I definitely remember being told to file early and we’d probably qualify for something, but that wasn’t the case. In the end, it all worked out, but definitely without the help of any federal aid.
I got married really young, so was able to qualify independent of my parents really young. And continued to do so throughout my college education. I wouldn’t have been able to go to college without FAFSA grants. But I wouldn’t have been able to get them without being independent of my parents (who were either unable or unwilling to help despite how their income looked on paper.)
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