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Financial Aid Answers - presented by eLearners.com

It is a daunting task to analyze, interpret, and implement federal financial aid regulations these days. Hopefully the information I provide will help you understand and locate the financial aid you need to earn your online degree.

Happy New Year!

First off, I hope you all have a very safe and prosperous new year.

On that note, let me announce that the 2008-09 FAFSA on the Web is now available! There are some changes to the process that I need to tell you about, as well as some tips.

New for 2008-09:

  • For those of you who have completed a FAFSA before, there is no longer a Renewal FAFSA. Instead, you will be asked if you want to access a "pre-filled" application, which has the demographic information from the prior year. The fields to be updated for 2008-09 will be blank.
  • Students and parents who do not have a PIN will now be able to create a PIN at the time the FAFSA on the Web is completed. If you have filed a FAFSA before, you already have a PIN. In the past, the student's PIN was emailed after the FAFSA was completed, and parents had to request a PIN on their own. I highly encourage you to create your (and your parent's, if required) PIN at the time you complete the FAFSA.
  • There are four new options for listing a school choice on the 2008-09 FAFSA. Now, you can request the FAFSA be sent to up to 10 schools.
  • A paper FAFSA will no longer be sent to schools or other institutions for student use. If you require a paper FAFSA, whether in English or Spanish, you may call 1-800-4-FEDAID to request a paper copy.

Tips on filing the FAFSA:

  • Use the FAFSA Preapplication Worksheet. This worksheet is the second bullet under Step 1 of the FAFSA on the Web. Print this worksheet and complete the information prior to entering the data on the official online application. This will save you time when completing the actual application. 
  • Read the FAFSA thoroughly! Many rejected applications are the result of not reading the directions. For entering tax information, the FAFSA tells you exactly which lines to look at on your tax return. Don't assume you know what they're asking.
  • Don't leave necessary questions blank. If you are asked to enter a dollar amount and the question does not apply, enter a 0. This is especially important, as financial aid administrators don't know if your answer is 0, or if you unintentionally left it blank. Leaving information blank may require additional followup by your financial aid office.
  • Use your PINs. The FAFSA requires the necessary signatures, whether electronically or by paper. If you have created or established a PIN, this will expedite your application. If you do not use PIN numbers, a paper signature page must be completed at the end of the FAFSA application and mailed to the federal processor.
  • If you do not have your taxes completed, you may file the FAFSA using the "will file" option in the tax information. However, you should have a very good estimate of what your tax information will be. Significant changes between tax figures from the previous year and 2007 may raise a red flag at your financial aid office, which means you may be selected for verification.
  • Do not use www.fafsa.com!!!!!!!  This website is not affiliated in any way with the Department of Education, and may charge you a fee for filing. The official FAFSA website is www.fafsa.ed.gov
  • File early! Don't put off completing the FAFSA. I know it's a tedious process, but it's in your best interest to file as soon as you are able. Federal campus-based aid such as Federal Supplemental Opportunity Grant (SEOG) and Federal Work Study are very limited in funding and monies go very quickly. Even filing early does not guarantee you will qualify for these programs, or that funding will be available.

Best wishes for a new year in education!

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Published Tuesday, January 01, 2008 7:00 AM by ter
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Comments

 

MichelleA said:

Great post, thanks for the information!! :-)

January 2, 2008 11:40 AM
 

Victoria said:

And if you need, the 2007 IRS 1040 forms are available at this web address:

http://www.irs.gov/pub/irs-pdf/f1040.pdf

January 2, 2008 1:45 PM
Anonymous comments are disabled

About ter

I have been a financial aid advisor for nearly 25 years now! Time really does fly. Like other e-learners, I acquired my Bachelor of Arts degree and my Master of Science degree while working full time and raising a family. My coursework consisted of classroom instruction, online and independent study courses, and weekend classes.

I began in financial aid as a secretary, and have worked my way to senior level financial aid advisor at a public four year college in the Midwest. When I began in 1984, we did not have computers, so I have seen the evolution of technology and its impact on education and financial aid.

My husband and I have four children in our household. My daughter and stepson are both in college. My son and stepdaughter are high school freshman.

I look forward to being a part of eLearners.com and given the chance to educate students, especially “non-traditional” students, on the ins-and-outs of financial aid. It is a daunting task to analyze, interpret, and implement federal financial aid regulations these days. Hopefully the information I provide will help.

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ter

I have been a financial aid advisor for nearly 25 years now! Time really does fly. Like other e-learners, I acquired my Bachelor of Arts degree and my Master of Science degree while working full time and raising a family. My coursework consisted of classroom instruction, online and independent study courses, and weekend classes.

I began in financial aid as a secretary, and have worked my way to senior level financial aid advisor at a public four year college in the Midwest. When I began in 1984, we did not have computers, so I have seen the evolution of technology and its impact on education and financial aid.

My husband and I have four children in our household. My daughter and stepson are both in college. My son and stepdaughter are high school freshman.

I look forward to being a part of eLearners.com and given the chance to educate students, especially “non-traditional” students, on the ins-and-outs of financial aid. It is a daunting task to analyze, interpret, and implement federal financial aid regulations these days. Hopefully the information I provide will help.

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