Subscribe to the NCSA BlogCompleting Your FAFSA
October 7th, 2009 - byFAFSA stands for Free Application for Federal Student Aid and can be found at http://www.fafsa.ed.gov/ The biggest mistake a lot of families make is not filling the FAFSA out because they think their family income is too high. This could not be further from the truth. Every family, regardless of income, has an EFC (estimated family contribution) number and the LOWER your EFC, the more aid you will receive. Even if you may not receive a significant amount of financial aid, you should still complete the FAFSA because it can act as an insurance policy for your son/daughter’s education. If there is a change or loss of income or an emergency in your family; you will not be eligible for college funds if you do not complete the FAFSA on an annual basis.
The first date you may submit the FAFSA is January 1 of senior year. Submit the FAFSAS on this date or as soon after as possible! University financial aid budgets are limited and are awarded on a first come first serve basis, so the earlier you submit your FAFSA, the better your chances of receiving aid. Each college/university has a specific deadline and at a certain point, the money does run out.
