Financial Aid Tip of the Day

1. Get a Federal PIN. It allows you to electronically sign the online FAFSA and provides access to your data at a later time.
2. Save valuable time and possible errors by completing the Free Application for Federal Financial Aid (FAFSA) online.
3. Gather required documentation ahead of time: http://www.startheregetthere.org/content.nsf/faam/completing-the-fafsa.html
4. Free help is available – Start Here, Get There. There is no “secret” method of filling out the FAFSA to qualify for more financial aid, nor do you have to pay to file it. Many schools and libraries offer free workshops and help in completing the FAFSA. Check out the SHGT Website for workshops near you.
5. Apply Early Don’t wait until the last minute to apply for financial aid. Some aid is available on a first-come, first-served basis – some programs have deadlines, while others have limited funds. Don’t wait until your 2010 taxes are completed; estimates are acceptable – update your FAFSA information after your taxes are completed.
6. When the FAFSA refers to “you,” or “your,” it means, you, the student, NOT your parents or family.
7. Make sure to use your legal name, as shown on your Social Security card. Enter your Social Security Number (SSN) carefully.
8. Read every question carefully and complete every field according to the instructions on the FAFSA. The computer often reads a blank as an error. The online form uses “skip logic” to help you avoid answering unnecessary questions.
9. Don’t use decimal points when completing financial sections. Decimals are not recognized during processing, so $500.00 will be misread as $50,000.
10. Don’t assume you are ineligible for financial aid. Many scholarships and grants are available based on merit and other factors, but still require a FAFSA for consideration.
11. Remember to sign the forms. When filing online, make sure to use the correct federal PINs for you, the student, and your parents.
12. Answer “both” to the questions asking about your interest in different types of federal aid, such as work-study and student loans. You won’t be obligated to accept offers you don’t want and answering “no” will not afford additional grant money.
13. Know your college financial aid deadlines. Be aware of your state's and your school's application deadlines. While there is no deadline for applying for federal student aid, you should apply as early as possible after January 1 of each year that you will attend college. Some state and school aid is awarded on a first-come, first-served basis.
14. Remember to apply for TAP, the New York Tuition Assistance Program. Look for the link to the NYS TAP Application on the FAFSA confirmation page. You’ll first be asked to establish a HESC-PIN. Then, your online TAP form will be pre-filled with some of the data from the FAFSA. You simply review the form, supply any missing information and submit.
15. Know the college cost of attendance (COA).
16. Understand your Estimated Family Contribution (EFC)
17. Remember to include yourself in the questions about household size and number of siblings attending college on the FAFSA,
18. A Student Aid Report (SAR) is generated and sent to you after you complete the FAFSA. Review it carefully and make any necessary corrections or updates right away.
19. Apply for federal and state student aid every year you attend college. Use the shorter, Renewal FAFSA and TAP online forms.
20. Never assume that because you received aid in one academic year you'll automatically get it again the next year. Review each program's application procedures carefully and reapply each year when necessary.
21. Your college will send an award letter stating the aid you can expect if you attend. Use HESC’s comparison chart and consider the options outlined in the letter, including grants, scholarships, loans and work-study programs.