Filling out the FAFSA (Free Application for Federal Student Aid) is a crucial step in getting financial help for college. It’s really important to have all your documents ready before you start the application. Here’s why and what you’ll need:
Why It’s Important to Have Your Documents Ready
- Accuracy: Having your documents on hand ensures you fill out the form correctly. Incorrect or incomplete information can delay the process or even reduce the amount of aid you receive.
- Speed: If you have everything ready, you can complete the application faster. The sooner you submit it, the better your chances of getting more financial aid, as some funds are given out on a first-come, first-served basis.
- Less Stress: Knowing you have all the necessary information at your fingertips makes the process less stressful. You won’t have to pause to search for missing details.
Important Documents You Need
- Social Security Number: This is crucial for both you and your parents (if you’re a dependent student).
- Driver’s License Number: If you have one.
- Federal Tax Information or Tax Returns:
- For the previous year, for both you and your parents. This includes IRS 1040, 1040A, 1040EZ forms.
- If you or your parents didn’t file taxes, you may need W-2 forms or other records of money earned.
- Records of Untaxed Income: Such as child support received, interest income, and veterans’ non-education benefits, for both you and your parents.
- Bank Statements: Current statements for both you and your parents.
- Investment Records: This includes stocks, bonds, and real estate (but not the home you live in), for both you and your parents.
- FSA ID: An FSA ID (a username and password) which you need to electronically sign your FAFSA form. Both you and one of your parents (if you’re a dependent student) need this.
By gathering these documents before starting the FAFSA, you’ll make the application process smoother and more efficient, ensuring you can apply for and receive the financial aid you need for college.