September is a busy month for many seniors and their families. As students put their final touches on their school lists, many families find themselves lost with the best way to approach the financial aid process (yes, you are not alone!). To help get you started, here are a few recommendations to make the process run smoothly.
- Get Ahead! Every school your child applies to will require the Free Application for Federal Aid or FAFSA. The FAFSA becomes available on October 1st for the 2023-2024 Application cycle. You and the student will both sign and authenticate the FAFSA using an FSA ID. Register today for your FSA IDs to limit delays once the FAFSA becomes available.
- Stay Organized! Each school your child applies to will have a separate process to apply for financial aid including their priority deadlines for application submission (these could be the same or different than your child’s specific admission deadline). Create a spreadsheet that outlines the specific requirements and deadlines for each school.
- Be Prepared! Make sure you have easy access to all of your banking and financial data. Collect PDF copies of your and the student’s 2021 Federal Taxes, W2s, 1099 Statements, Business Taxes & K-1s. If you’re applying to a college or university that requires the CSS Profile have a copy of your most recent mortgage on hand as well. Some colleges will require you to submit copies of your taxes, W2s, or other information.
Still lost where to start? Campus Bound is here to help guide you through this process. Reach out today to learn about our Financial Aid Services and we can figure out the best options to help you navigate you throughout the financial aid cycle.