how to get the best financial aid package for college

How to Get the Best Financial Aid Package for

College

CollegeWeekLive  

StudentAdvisor.com Dean Tsouvalas, Editor-in-Chief

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1. Fill out the FAFSA! It all starts with the FAFSA (Free Application for Federal Student Aid)

53% of eligible families do not bother applying for aid through the FAFSA leaving millions on the table. 

Most need-based scholarships are based on your FAFSA score. 

The FAFSA determines your eligibility for financial aid such as grants and federal student loans.  

You can do it all online at FAFSA.ed.gov 

2. Common FAFSA Mistakes(and how to avoid them)

Incorrect Social Security or driver’s license number. 

Double and triple check

these numbers.

Leaving spaces blank.Write “0” or NA when

applicable.

Using decimal points or commas.

Always round to the nearest dollar!

Not sending the FAFSA to every school you’ve applied to. You can include up to 10 colleges per FAFSA. You will need each college’s Federal School Code.

Forgetting to sign and date. If you’re filling out the paper FAFSA be sure to sign it. If you’re filing electronically, be sure to obtain your PIN from www.pin.ed.gov. Your PIN is your electronic signature and will always be assigned to you only.

Waiting to file FAFSA until you submit the most recent income tax return. You can estimate your taxes.

Other common FAFSA mistakes…

3. On the day you file, make sure your parent has as little cash in checking, savings and other cash-equivalents as possible.

4. Students: Always file a tax return, even if you aren’t making any money. 

5. Compare financial aid packages from different schools closely. 

6. Remember: grades have little to do with financial

aid awards.

2012-2013 FAFSA Deadlines

• Federal Deadline: Online applications must be submitted by 

midnight Central Time, June 30, 2013. Any corrections or updates must be submitted by 

midnight Central Time, September 15, 2013. • State Deadlines: Each state has a different deadline. See the list2012 - 2013 FAFSA Deadlines