Education
Filling out your FAFSA (Free Application for Federal Student Aid)

You have the grades, you have the ACT/SAT scores, and you even have your acceptance letter or know where you will be attending college next year. The only thing missing is the money to pay this year of college. Thankfully the government of the United States provides great amounts of student aid each year and it is the number one financial aid source for college students.

But to get a piece of the cake you need to file your FAFSA. You can file it electronically by visitingwww.fafsa.ed.gov. Here are some things you want to consider:

Even though the deadline for the application reads June 30, you should try to submit your FAFSA application as early as possible after January 1. The government funds are handed out in a first-come first-served basis, so the earlier you apply the more chance you have to get more aid.

You will need your income tax information to include in the application. If you and your parents have not filed your taxes yet, you can fill it out as best you can. You can always file a FAFSA correction, but ideally you want to complete it and have it ready to go early in the year.

The FAFSA application is one that you file every year of your college career. To get started and fill out your form electronically, you can visit www.fafsaonline.org.

Here is what you will need in preparation for your application:

• Your Social Security Number (can be found on the Social Security card)
•  Your driver's license or state ID (if any)
• Your W-2 Forms and other records of money earned
• Your 2010 Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ or 1040TeleFile
• Your parents' Federal Income Tax Return (if you are a dependent student)
• Your untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records
• Your current bank statements
• Your current business and investment mortgage information
• Your alien registration or permanent residence card (if you are not a U.S. citizen)

Once you have gathered all these materials, you are ready to start. The next step is to set up your online account. You can visit http://www.fafsaonline.com/financial-aid-application/fafsa-application/ and start filling out your information to set up your profile.

After your account has been set up, you will be able to start filling out your information. With all the information outlined above in hand, you can complete every section. There will be about 10 different parts to it requiring different information that you should be able to provide with the information you gathered.

Then after submitting, you will get an initial estimate of your financial aid need, or your Student Aid Report (SAR). This document contains all the information you provided so make sure you print one copy for your records.

After the application process is complete, your college will use the information in your FAFSA to calculate your financial need. You will receive communications from your school once they have received FAFSA records.

Completing your FAFSA application is one of the most important financial decisions that you can make for your college career. I encourage you to follow through all this process, in spite of how complicated it may seem, you will be very satisfied once you realize the prize.

I invite you to share your questions or concerns regarding this process or any financial aid question you may have. I hope you find this article helpful and your feedback is welcome.