ALL SENIORS who are U.S. Citizens or Permanent Residents!! We HIGHLY RECOMMEND all seniors fill out the FAFSA (or CA Dream if you are a non-citizen or non-permanent resident). If you do not fill out the application, you will miss out on federal, state, and institutional aid. Most colleges will not offer you a financial aid award letter without first receiving your FAFSA, so you could potentially miss out on merit aid, as well as need-based aid.
The FAFSA opens on October 1st every year and you should plan to submit by March 2nd to be eligible for the maximum amount of aid. The sooner, the better! To be eligible for aid during your first year of college, you should fill out the application for the year you plan to attend (next year). For example, students in the graduating class of 2021 should fill out the 2021-2022 application.
To get started, you and a parent need to create an FSA ID. You will use this FSA ID to start and ultimately, sign and submit your FAFSA. Once you create this ID, you can start the actual application (linked above). You should have the following information handy in order to efficiently fill out the FAFSA:
Social Security Number or Green Card Registration Number
Parent(s)' 2019 tax return
Bank account balances
Any investments or untaxed income
I don't need to fill out the FAFSA, because my parents make too much money for me to qualify for finanacial aid. MYTH! All seniors (who are U.S. citizens/permanent residents) should fill out the FAFSA, regardless of income. While some students may not be eligible for federal grants, the FAFSA provides work study money, loan options, and is the key to many non-need based grants and scholarships. In fact, most schools will not give you a financial aid award letter unless you have filled out the FAFSA, so you could miss out on merit aid!
I'm going to community college and will get my tution paid for already, so I don't need the FAFSA. MYTH! The FAFSA can potentially qualify you for aid that will cover expenses beyond your tuiton. You can get money that will pay for fees, transportation, books, etc. In addition, in order to cash in on the free tuition offered through the Promise, you MUST submit your FAFSA/Dream Act.
The FAFSA takes too long to complete. MYTH! If you have the necessary documentation ready, FAFSA can be filled out by most people in less than an hour. If you do get stuck, please reach out to your counselor or call the FAFSA help line at 1-800-433-3243.
I don't know if I'm going to attend college, so there's no point. MYTH! First of all, many students decide to attend college later in the year and if they haven't submitted their FAFSA, they now have missed on some valuable financial aid. Secondly, FAFSA can provide aid for students wanting to attend a trade/vocational school, as well as college.
The FAFSA costs money to complete. MYTH! The first "F" in FAFSA stands for FREE! It doesn't cost anything to apply.