Financial Aid 101

Strong Recommendations

File your taxes electronically

  • Filing your taxes electronically allows you to use the Data Retrieval Tool to upload information from the IRS directly to the FAFSA. This decreases errors and the chance of being audited

The early bird gets the worm

  • You must apply early to maximize your financial aid options. It is also important to submit your taxes as early as possible

 Frequently Asked Questions

What is financial aid?

  • Financial aid is a combination of grants, scholarships, loans, and federal work study. Some financial aid is free and some financial aid is borrowed which your student will have to pay back after they graduate from college

How do we apply for financial aid?

  • Students applying for financial aid should start by filling out the Free Application for Federal Students Aid (FAFSA) and then begin to apply for scholarships. FAFSA is a form used to determine the amount of money a family is expected to contribute to the price of attending a college or university. The one-and-only website to apply for federal financial aid is www.fafsa.gov

What if we don’t file taxes?

  • You will still need to report your income earned from working play any other income you received in 2013 on the FAFSA

What if I am divorce or separated?

  • The parents your student lived with the most in 2013 is the person who is responsible for completing the FAFSA. If this parent has remarried, then the step-parent must also report his or her financial information

What documents will I need to fill out FAFSA?

  • Your 2012 tax return
  • Your 2012 W-2 forms
  • Your student’s social security card
  • Current bank statements
  • Your 2013 tax return (once submitted)
  • Your 2013 W-2 forms

The financial aid process can be confusing and frustrating, but if you sign up with College Apps Academy you will never have to worry about incorrectly filling out any of these forms!