Tuesday, July 22, 2008

College costs Help - Federal student aid - Fafsa4caster

Everybody knows College costs are rising, so as a student who needs help with paying for college, Federal student aid is the most important financial assistance for you.

You wanna know just how high college costs are? - Try the college cost finder - you will find the annual costs of any four-year college or university in the United States.

It is very important to compare amounts and types of aid being offered as it will help you to decide which college to attend.

Federal Student Aid, an office of the U.S. Department of Education, provides federal student aid, which includes grants, loans, and work-study.

Federal student aid as a federal provider of student aid, including grants, loans, and work-study, can be used to cover the costs of your college's tuition and fees, and also dependent child care expenses.

You should be aware to the fact that Federal student aid may not cover all your college expenses. You could use other Non-federal sources in your junior year to determine if you are qualify for these funds:
  • Your state or local government.
  • The college you're interested in has its own financial aid sources, which often include scholarships or grants.

What is the difference between Fafsa and Fafsa4caster?

Typically, students submit the Free Application for Federal Student Aid (FAFSA), online or by paper, sometime after January 1 of their senior year in high school.
  • The problem is that for many of them this is the first time to be exposed to the federal financial aid process, and they have to decide which college they intend to apply, yet unfortunately most of them have no financial aid information needed.

That's where FAFSA4caster arrives.
  • It is an early estimator, for students need to have an idea about their financial aid eligibility before January of their senior year.

What do you need to officially apply for federal student aid?
  • Your Social Security Number (SSN)
  • First and last name exactly as they appear on your Social Security Card.
  • Identity verification with the Social Security Administration (SSA).
  • Federal Student Aid PIN.

8 steps to successfully apply for federal student aid?

The process for determining federal student aid eligibility is separate from the process of applying for admission to college. The Free Application for Federal Student Aid (FAFSA) is the basic application that is used to apply for federal student aid.

Step 1
Get information at FederalStudentAid.ed.gov or call 1-800-4-FED-AID (1-800-433-3243).
Talk with your high school counselor or the financial aid office at the college you plan to attend.
Make a free financial aid application enter Fafsa

Step 2
Get a Federal Student Aid PIN at www.pin.ed.gov.

Step 3
Personal documents and information such as tax returns and W-2 forms.

Step 4
Make sure you meet the college and state aid deadlines.

Step 5
Get your Student Aid Report (SAR) which is a summary of your data with an information on the status of your FAFSA.

Step 6
The colleges you list on your FAFSA need to verify the information that you provided on your FAFSA.

Step 7
Follow up with your colleges.

Step 8
Contact your college's financial aid office only after you have your award information.

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