Applying for Federal Financial Aid

You should never have to pay for help to apply for Federal Financial Aid. Free information and help is available from your school counselor, the financial aid office at the college or career school you plan to attend, or the U.S. Department of Education. Free help is available any time during the application process. To apply for Federal Financial Aid you'll need to complete a FAFSA (Free Application for Federal Student Aid). Here are the steps you'll need to take to apply for Federal Financial Aid:

1. Apply for a Federal Student Aid Personal Identification Number (PIN) that serves as an identifier and lets you "sign" your online Free Application for Federal Student Aid (FAFSA) and make corrections to your application information. You should apply for your PIN 5 to 10 days before you start the FAFSA application.

2. Collect the documents needed to apply, including income tax returns, W-2 forms and other records of income. A full list of what you need is available at www.fafsa.ed.gov.

3. Complete the FAFSA between Jan. 1, 2008 and June 30, 2009, but, apply as soon as possible after Jan. 1 to meet school and state aid deadlines. Applying online is faster and easier.

4. The Department of Education will send you your Student Aid Report (SAR) - the result of your FAFSA. Review your SAR, and if necessary, make changes or corrections and submit your SAR for reprocessing. Your complete, correct SAR will contain your Expected Family Contribution (EFC) - the number used to determine your federal student aid eligibility.

5. If you are selected for verification (an asterisk will appear next to your EFC), your school's financial aid office will ask you to submit tax returns and other documents, as appropriate. Be sure to meet the schools deadlines, or you will not receive federal student aid.

6. Whether youre selected for verification or not, make sure the financial aid office at the school has all the information needed to determine your eligibility.

7. You will recieve a financial aid package from the school. Contact the financial aid office if you have any questions about the aid being offered. Carefully review award letters from the schools to compare amounts and types of aid being offered. Decide which school to attend based on a combination of (a) how well the school suits your needs and (b) its affordability after all aid is taken into account.

Note: You also might be able to get financial aid from your state government, your school or a private scholarship. Research nonfederal aid early (ideally, start in the spring of your junior year of high school). Be sure to meet all application deadlines!