Parents,
I bet you thought that once your filled out the Free Application for Federal Student Aid (FAFSA) that your scholar's financial aid paperwork journey was over. Maybe you thought it was over once you received the acceptance letter that had the complete listing of financial aid offered to your student.
The answer to both situations is NOT EVEN CLOSE!
Parents and students alike end up at college in August and many are unaware that their financial aid is not complete. They did not know the school created an email for your students and was sending them request after request for further information because of course your scholar is 100% effective at communication at the ripe old age of 17!
I want to inform my parents that filling out the FAFSA is just the first thing to complete on the list each year when it comes to a complete financial aid package.
If your student is considered a fully accepted student at the university of their choice then please do the following:
1. Make certain you completed the FAFSA because as the picture says: "First You Have To FAFSA"!
2. Take a tour on your selected college's Financial Aid Section and locate the following forms:
2018-2019 Verification Worksheet (must do)
2018-2019 Untaxed Income Form
2018-2019 Asset Information Request
2018-2019 Marital and Tax Status Verification Form
2018-2019 Non-Filer's Statement (must do for student usually or a parent who did not file taxes)
Tax Transcript (optional, but recommended)
I always ask my parents to order a TAX TRANSCRIPT every year. It is better to have it and give it on demand, than to have to wait for the IRS to send it in the mail, while your scholar stresses over their bill. Most schools do not require the Transcript unless you are flagged. However, in my experience more schools request it than not. I just like my families prepared for anything.
Remember to use the IRS DATA RETRIEVAL TOOL when filling out your FAFSA. Its when you do not use this tool that your red flagged and more documentation is needed.
You won't have to fill out every form listed but you will need to fill out the Verification Worksheet and Non-Filers Statement if your scholar or yourself did not file taxes. Schools require these documents as a form of proof that you are in need of the funds you the government and the school is willing to give you.
Overall, get used to this section on your schools website. These are the forms you will fill out every year of your higher education career.
Believe it or not it is these forms and documentation that keep students from actually attending college or causing them to drop out because they had no idea how important these forms are to receiving and finalizing their financial aid.
Check your scholars account daily once accepted and your deposit is paid in full. Remember if you don't complete the forms, are missing information required (final grades from high school, Immunization Record-Freshmen) then please understand your financial aid that is offered will not be applied to your scholars bill. In fact the school will send you a complete bill for all monies owed. You will say: "I thought we got Financial Aid?" and they will say "Did you fill out the required forms we needed to ensure you receive it?".
Remember Guided Education Services is here to assist with this also. Our scholars never have to worry about these forms. We break down everything to our families so that they have a full understanding of all the documents and the school receives them ahead of all other students who wait to the last minute.
Contact us today for better guidance through the Financial Aid Hurdles