Experts Recommend: Fill Out Your FAFSA Early
Students who want to maximize their federal financial aid for the
2009–10 academic year should fill out their FAFSA (Free Application for Federal Student Aid) this week — the first week applications are
accepted, reports The Baltimore Sun (“Ringing in the New Year With FAFSA Might Be
a Good Move for 2009,” Dec. 30, 2009).
“The sooner you get [the FAFSA] done, the better,” says Mark Kantrowitz, publisher of FinAid, a financial aid website.
Since many states and colleges use the FAFSA to determine how to allocate their funds and some schools have early admissions deadlines,
students who complete their application sooner rather than later may have a better chance of getting federal financial aid. Schools often
have two separate financial aid funds, each with their own deadlines, and make more money available to families who met the earlier
deadline, Kantrowitz says.
He recommends that families should always fill out the FAFSA even if they think they make too much money to qualify for need-based financial
aid; a family making $100,000 or more could still qualify for federal and state aid to attend an expensive institution.
Resources to Get Started
- Find out how to fill out your FAFSA online.
- Use the FAFSA4caster at www.fafsa4caster.ed.gov to calculate how much financial aid you may qualify for and to get tips on how to reduce
the time it takes you to complete your FAFSA.
- Call the Federal Student Aid Information Center for free at 1-800-433-3243 if you need help with your application.
- Go to www.finaid.org for tips
on how to maximize the need-based aid you could receive.
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