Today I am trying to familiarize myself with FAFSA.
As I began, I realized that I’ve been calling it FASFA instead of FAFSA. Good example of how little I know about it. I was going to correct my error in a previous post, but I am supposed to be basically bearing all of my ignorance here, so I left it as it was.
FAFSA stands for Free Application for Federal Student Aid. In order to apply, I will need general things such as my driver’s license and social security card, as well as all financial records from the previous year (W-2 forms, stocks, bonds, bank statements, etc.). Obviously this makes sense. Also, students must apply for a PIN, which will serve as an electronic signature. It takes one to three days for the PIN to register. I applied for my PIN the other day when I began this process.
SAR: Student Aid Report
EFC: Expected Family Contribution
After completing the FAFSA process, I should receive my SAR. I’ll have to review it and make sure all of the information is correct, and submit any corrections if it is not. The EFC is basically a needs analysis. It will show where I stand in comparison to the rest of the nation. My selected school will use the information I submit to determine my financial aid award. They may request documents for proof, which I’ll need to send immediately in order to avoid delays in my financial aid decision.
That’s all for now!
I’ve had a very long day today and I am admittedly kind of proud of myself for accomplishing as much as I have. And also for not delving into the TV the very instant I got home… haha. Now it’s time for dinner, because I’m starving.