In this column, Academic Adviser and AP English teacher Molly Sargent discusses the college application process with Austin Ward and gives advice for prospective college students.
You’ve been told all your life you can be anything you want to be if you just want it enough, if you just work hard enough. So you’ve gotten the best grades in school that you could, taken challenging classes, joined clubs, visited college campuses and applied to your top five (more or less) college picks. And you got in to three of them! Congratulations!
Now, the “rubber hits the road,” as they say, and whether you can actually attend any of those colleges comes down to cold, hard cash. And that’s where the FAFSA comes in.
The FAFSA (Free Application for Federal Student Aid) is a document that must be completed if you are hoping to receive any kind of financial aid for college, whether it is from the federal government, state agencies or private institutions. It is filed online and is used to determine your EFC (Expected Family Contribution).
According to the FAFSA website, the EFC is a preliminary estimate that measures your family’s financial strength. It is subtracted from the Cost of Attendance at the school(s) you plan to attend to determine your eligibility for student aid. Once the EFC is determined, schools use it to prepare a financial aid package (grants, loans and/or work-study). Financial need is the difference between your EFC and your school’s cost of attendance (which can include living expenses).
The FAFSA will not be available online until Jan. 1, 2011. It must be submitted no later than March 2 for California.
The first step in beginning the process is for you and your parent to sign up for a PIN. This four-digit number, along with other personal information, is used to access your personal information on federal student aid websites. It is highly advantageous to receive a PIN before you begin the process since it takes a few days to receive it.
Other information and documents necessary to complete the FAFSA include: your Social Security Number; your driver?s license; your parent’s or guardian’s 2010 Federal Income Tax Return; your tax return, if you filed one; W-2 forms for 2010; untaxed income records; current bank and business statements; and your alien registration or permanent resident card (if you are not a U.S. citizen).
Both the student and the parent/guardian have their own sections to complete, each of which requires the declaration of personal financial assets. Also, if you are a male 18 years old or older, you must have registered with the Selective Service System.
At first glance, the FAFSA may seem a bit intimidating. But once you have the necessary information, it’s not so bad. And if you run into any trouble, there are several avenues to receive help, all found on the FAFSA website, including a Live Help option.
The good news is that you only need to file it once every year you are in college. Considering you may receive grants, low interest loans, or work-study opportunities as a result of completing a FAFSA, it’s worth your time to go through the process.
For the previous installment, read the Nov. 23 column, College Corner: Essay advice.