First Time Parent Financial Aid- What to do?

<p>So my son just applied to 8 colleges (privates) not including UCs.
I've heard that I had to fill out FAFSA or something but do I have to do something different for each school?</p>

<p>Is there a walkthrough guide for applying for financial aid because I have no clue what to do and neither does my son.</p>

<p>Thank you all and happy new year!</p>

<p>You fill out one FAFSA on line is best and at the end and you send the reports to all the schools that you applied to.</p>

<p>Finaid.org. Or even the FAFSA website will help you. The 2011-2012 FAFSA will be available to fill out Jan 1. Make sure you know the deadlines for the schools. You can always fill out an estimate for FAFSA using last years numbers or we use our last paystub for the year, then makenyour corrections when you get your W2 and file your tax returns. You will also need a FAFSA PIN which you obtain from the FAFSA website.</p>

<p>Many schools only require FAFSA but some also require the CSS Profile (on College Board’s site) or their own form…these would be in addition to the FAFSA. You can find out what each school requires, and their deadlines, by checking their websites. Please note that CA has an early deadline for applying for state aid…every year there are kids who post that they don’t have their grants due to this, so don’t miss it (and make sure to allow a few days for processing time)! All the info you need can be found here:</p>

<p>[Home</a> - FAFSA on the Web-Federal Student Aid](<a href=“http://www.fafsa.ed.gov/]Home”>http://www.fafsa.ed.gov/)
[Completing</a> the FAFSA: Financial Aid from the U.S. Department of Education](<a href=“http://studentaid.ed.gov/students/publications/completing_fafsa/index.html]Completing”>http://studentaid.ed.gov/students/publications/completing_fafsa/index.html)
<a href=“http://www.fafsa.ed.gov/fotw1112/pdf/Deadlines.pdf[/url]”>http://www.fafsa.ed.gov/fotw1112/pdf/Deadlines.pdf&lt;/a&gt;&lt;/p&gt;

<p>You and your student both need a PIN number in order to file FAFSA…start with the PIN link at the top of the FAFSA filing link. The second link will give you complete instructions, just make sure you’re entering student info in the student part (questions refer to “your”, but remember it’s the student’s FAFSA) and parent info in the parent section. If you’re filing now, you’ll have to use estimates and “will file” for tax status. Your student will receive an email in a few days that their SAR is available. Print it and check carefully for errors! Then, if there are any, submit and update or, if error-free, update to final income/tax numbers after your tax forms are complete. </p>

<p>Feel free to post any questions as you go along…good luck!</p>

<p>Why does a parent need her own PIN? Can’t there just be one for student? I applied for a PIN for D, using her info (SS#, etc.) with my email address. If D’s address was on it, we’d never know what is going on as she rarely checks it.</p>

<p>I will be filling out fin aid forms; H and I will be funding her education (as much as possible) except for the loans she takes out in her name. So I do not understand why we need separate PINs.</p>

<p>Okay, scrap my last post–just started filling out FAFSA and read that both parent and student need to sign it with their own PIN.</p>

<p>The FAFSA has to be electronically signed by both the parent and student. Apply for your own PIN now…that the way the system was designed! Keep track of both as you’ll need to use them every year!</p>

<p>Can you begin the fafsa before you receive your pins?</p>

<p>When you apply for the Pin numbers, you have the option of creating your own. Which is what I did…filled in as much info on the Fafsa, exited and then was able to get back in and continue. </p>

<p>So create your own Pin number and you won’t have to wait (at least I didn’t have to)</p>

<p>Diemking…be sure to check each school’s website to see what each requires…</p>

<p>Some only require FAFSA</p>

<p>Some require FAFSA and CSS Profile</p>

<p>Some require the above AND their own forms. </p>

<p>And…some have different deadlines.</p>

<p>^ Good point…and not only schools, but also states, have different deadlines! They have a list here, but I’d recommend verifiying state aid deadlines with your own state’s dept of higher ed…lots of kids seem to miss the early CA deadlines every year (which is March 2nd btw) but CA is not the only one with a March deadline. And remember to allow several days for processing time!</p>

<p>[Student</a> Aid Deadlines - FAFSA on the Web - Federal Student Aid](<a href=“http://www.fafsa.ed.gov/deadlines.htm]Student”>http://www.fafsa.ed.gov/deadlines.htm)</p>

<p>When I went to the CSS Profile site, I just entered each of the colleges that my daughter is applying to and was told whether or not the college is in the databank (and thus needs to receive the form).</p>

<p>Question about PIN: my husband just got one for our daughter but did not see how to get a second one for himself. Did he miss something? He created the PIN for our D.</p>

<p>Thanks for all the help you experts provide!</p>

<p>One parent must also sign the FAFSA for a dependent student. That parent will need to create a separate PIN for him/herself. [The</a> PIN Web Site - Federal Student Aid](<a href=“http://www.pin.ed.gov%5DThe”>http://www.pin.ed.gov). The parent enters his/her own SSN, DOB, etc.</p>

<p>Folks, I know that you plan to pay for college. However, you will not even be able to discuss your student’s financial aid with any school unless your child has filled out a FERPA release form with that school (even if the child is still a minor). The Family Rights & Privacy Act regs prohibit schools from discussing anything pertinent to your child’s file without that express written consent. Your student MUST understand how financial aid works, must understand how to file for it, access it, etc. I cannot stress this enough. I am a financial aid officer, and parents often get upset with me because I cannot discuss their child’s aid with them … even though the government expects them to pay for school.</p>

<p>hey everyone, happy new year. i know i got up first thing and get my daughter up to look at the 2011-12 fafsa. i have already submitted our css profile to her ED first choice school (accepted), the fafsa is also due. i’m going to use the same 2009 numbers but i’ve received a financial aid letter from the school indicating what i’m going to get. will the fafsa numbers be different? meaning, could the school has estimated too low? also, i put everything in the css profile, the small 529 plan we have (under $5000) and a small brokerage account we have (about 12,000). otherwise, our savings is small - accept for our house (worth nothing now) and my husband’s 401K. will the above small amounts kick us out of any federal aid. we do have full-time jobs however.</p>

<p>Your aid letter is based on estimates. Once you actually do your taxes, your aid package could change due to changes in income, AGI, taxes paid from estimated to actual.</p>

<p>FAFSA EFC is used to compute eligibility for federal aid. If you are using the same info to complete the FAFSA as you used to complete the Profile, your federal aid eligibility will remain the same … the school would have computed federal aid eligibility using the Profile info. The only “guaranteed” federal aid is the Pell (if you qualify), as well as Stafford loans (which not every college will package into your aid award, but for which students will qualify as long as there is a parent/student contribution not covered by grants & scholarships).</p>

<p>Thanks, Kelsmom, for all your guidance. Much appreciated.</p>