a few fafsa questions from the experienced please

Paying for College
1

<li><p>If I remember correctly this form has space for 6 schools at a time. I remember something vague about when you get it back?? you then can erase the first 6 and add 6 more schools. Please elaborate for me. How does this work?</p></li>
<li><p>Some parents had pin issues. What are the issues and how many do you need? </p></li>
<li><p>What if your child decides to apply to another school when this is completed?</p></li>
<li><p>What happens if there are 14 schools and you can with corrections send it to 12? How are the last 2 schools dealt with regarding this form?</p></li>
<li><p>Some people had major headaches with this form, what else do I need to know to avoid disaster?</p></li>
<li><p>If I am confident that we aren’t getting need based aid from our state schools should I just omit them from the fafsa?</p></li>
</ol>

<p>Anyone who has the patience of a saint to answer these Qs, I thank you in advance!!</p>

2

<ol>
<li>If I remember correctly this form has space for 6 schools at a time. I remember something vague about when you get it back?? you then can erase the first 6 and add 6 more schools. Please elaborate for me. How does this work?</li>
</ol>

<p>Yup-- you list 6 schools when you submit the FAFSA. After that, you can go back in and revise it (several times if you want). Each revision updates the SAR (that's the summary that includes the all-important EFC) that gets sent to the schools currently listed. So if you're applying to 10 schools, go in and revise the FAFSA to erase 4 of the original 6, and add the new 4. Gets tricky, though, because if you make any further changes to the substance of the FAFSA, only the currently listed schools get the updated info. Eventually, though, you'll have the pool whittled down to just a few, and then probably to just one when you finally go in and revise the 'estimated' income numbers to the 'actual' income numbers after taxes are filed.</p>

<ol>
<li>Some parents had pin issues. What are the issues and how many do you need?</li>
</ol>

<p>In order to file online, each parent needs a PIN in order to create an electronic sig. This is different than the PIN you use when completing or revising the FAFSA. Details are on the FAFSA site-- just follow the links. Write down the PINS because you'll probably need them several times.</p>

<ol>
<li>What if your child decides to apply to another school when this is completed?</li>
</ol>

<p>Go to FAFSA, click on "Revise FAFSA" or something similar. Add the new school, delete one of the others. Remember that any future revisions of substance will only go to the six currently listed schools, so you may need to make the substantive revision, submit, and then change the schools, and submit again. You can end up with 4 or 5 different FAFSA revisions this way.</p>

<ol>
<li>What happens if there are 14 schools and you can with corrections send it to 12? How are the last 2 schools dealt with regarding this form?</li>
</ol>

<p>Same way as above. Pick six, send. Pick another six, send. Add the final two to the mix, send again.</p>

<ol>
<li>Some people had major headaches with this form, what else do I need to know to avoid disaster?</li>
</ol>

<p>Dunno. I'd suggest the Princeton Review's: "How to Pay for College without Going Broke". Read it a year before you anticipate filing for aid, so you can get your ducks in order and maximize your eligibility. Then take your time on the FAFSA-- don't try to do it in one sitting. Leave plenty of time. Don't worry about estimating based on previous year's income. Remember it's just a snapshot of assets on the day it's filed, and an estimate of future income. If you're considering making a major purchase, do it before the FAFSA date. If the student has any assets and accounts, and also has some significant pending expenses, have the student spend down those accounts to pay off those expenses before the filing date (generally, each $100 the student spends will reduce the Expected Family Contribution by $33).</p>

<ol>
<li>If I am confident that we aren't getting need based aid from our state schools should I just omit them from the fafsa?</li>
</ol>

<p>No-- I'd read the book, and submit to them anyway. Couldn't hurt, and might just help a bit.</p>

3

<p>Can't answer them all.</p>

<ol>
<li>Never forget your PW and Pin for FAFSA or for your subsequent loans. As one who has forgotten a PW and pin, " its a real pain, and FAFSA is run by a governmental agency, which makes, NO, exceptions.</li>
</ol>

<p>You will need these codes to make amendments and for filling for years 2,3,4, and perhaps beyond.</p>

<ol>
<li>Run a fafsa in junior or early senior year. This will give you an idea of the FC. You cannot file the Fafsa until Jan of the year of attendence. Also be sure to sign the form, either by paper or by electronic.</li>
</ol>

4

<p>Quick answers to expound upon the above (very excellent!) responses:</p>

<ol>
<li><p>Only one parent will need a FAFSA pin, but it's probably in your best interests to have one for everyone in case you need it. DO NOT LOSE THESE! They can resend one to you, but it takes time, which the financial game does not like to lose. </p></li>
<li><p>Have your tax forms on hand, and anything else the above recommended book suggests. They often reference line numbers on the tax forms. THIS IS IMPORTANT: No matter how much you think a number from a different line belongs there, don't put anything other than what it asks for -- anything. It is extremely important to follow the directions on the form precisely. It leaves some important things out (beware if someone's self-employed), but there's nothing you can do about it.</p></li>
<li><p>Submit the FAFSA anyway. It's the only way to be eligible for loans, even the non-subsidized, non need-based PLUS loans. ALWAYS SUBMIT A FAFSA. You never know what could happen (and sometimes it's the only way to be eligible for some scholarships).</p></li>
</ol>

5

<p>The most important thing I can say about the FAFSA and all other forms for college...DEADLINES, DEADLINES, DEADLINES!! Do NOT miss the deadlines.</p>

6

<p>Itstoomuch:"Run a fafsa in junior or early senior year. This will give you an idea of the FC."</p>

<p>Are you saying I could start the app now, then just "file" in Jan.?</p>

7

<p>You can file a FAFSA whenever you wish actually and select any school for it to be sent to.....including NO school. Some folks file the FAFSA and don't attend school during the valid period. Be sure to file online....it eliminates errors and when you go to file the next year.....you can carry over all of the general info and just insert new data...it is quite easy actually.</p>

8

<p>Thanks for the info!</p>

9

<p>I don't know what schools you are considering but be aware that some states have deadlines which you must comply with to qualify for state program monies. Your school may have a different deadline and at this point you may not know what school. Just be sure to comply with the deadline for your state and when you get your taxes for '05 done.....bingo plug and chug.</p>

10

<p>You can as the application cycle rolls on add any school to have the report released to.....at any time. It is fully modifiable online with your PIN. Many schools will entertain a discussion with your during the application process and discuss their probable awards with you....don't be shy about contacting Financial Aid Officers early on.....they are there to assist you in many ways. They are not your enemy and they get paid to know how this all works.</p>

11

<p>I haven't checked the FAFSA site but I don't believe the FAFSA for the 2006-7 school year (which is the one that will need to be filed for THIS year's high school seniors who will begin college fall 2006) is there yet. Last year, it was online about the beginning of December, and the earliest you could file it was Jan 1.</p>

12

<p>Thank you Thumper. I was wondering how that worked. I knew that one could not file until Jan. 1st.</p>