Financial Aid
It is always a goal for seniors to complete the FAFSA, but this year is the first year that it is a state graduation requirement for seniors. Completing the FAFSA by December 18 gives a student the best possible chance at receiving the financial aid for which he or she is eligible.
Waivers are available upon request, but it is recommended to complete the form.
Financial Aid Overview
I completed the FAFSA, now what?
Verification Process
Top Mistakes Made on the FAFSA
Not filling it out. Big mistake. Some people think they won't qualify for aid, so they don't complete the FAFSA. This will then also mean that students can't get low interest, federal student loans. Also, some colleges use the FAFSA to award their own institutional scholarships based on other criteria, not financial need. So, your student may miss out on those opportunities.
Reporting your home as an asset. You do not report the home you live in as an asset.
Reporting the value of your farm or small business. You do not need to include the value of a farm or small business if you employee less than 100 people.
Claiming both parents in the instance of divorce or separation. If you are divorced or separated as of the day you complete the FAFSA (even if it is not yet legally confirmed), you only claim the financial information of the custodial parent. This means that the student reports for the parent whom he or she lives with more days of the year. That can be tricky to determine if it is split custody, but still, you use the information for the parent the student lives with the most.