Those headed to college in the fall should get ready to start the application process for financial aid.
The new Free Application for Federal Student Aid, FAFSA is now available online. Click here to start filling out the form.
Filing the FAFSA as soon as possible after January 1st increases applicants’ chances of getting the best financial aid packages for which they are eligible. Those who file the form from January through March receive, on average, twice the amount of grant money as those who file later, according to Mark Kantrowitz, publisher of the financial aid website Edvisors.com.
Keeping this in mind, you can choose to either wait until your tax return is complete and filed for the year or complete your FAFSA using estimates derived from the previous year’s tax returns and other documentation. (Note: If you do this, you will need to return later and correct any discrepancies between the estimated values and the current year’s tax returns.)
Connecticut has a February 15th deadline for certain aid programs. Some state grant programs distribute awards on a first-come, first-served basis, which means waiting could cost students to miss out on aid even if they qualify.
MJW EA & Company LLC offers FAFSA preparation services with negotiable fee options.
Also, please take some time and check out our “College and Beyond” section on our website for information and resources regarding all things education oriented.