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Evan M. Haines, CFP®, ChFC®, RICP®
Financial Advisor
Prudential Advisors
222 Independence Street
PO Box 632
Perryopolis, PA 15473
Phone: 724-736-2130
Email: evan.haines@prudential.com
May/June 2023
FAFSA 101
Do you have a child who is headed to college in 2024? If so, you’ll want to fill out and submit a FAFSA when the form becomes available on October 1, 2023. FAFSA stands for Free Application for Federal Student Aid. It’s used to determine the amount of the loans, grants, and other federal financial aid a prospective student qualifies for. In addition, colleges use the FAFSA when deciding on a financial aid package to offer an applicant.
Create an Account
The first step in the process is for your child to set up an online account at studentaid.gov Both parents and students should create a login and password to access the account. Make sure you write down your sign-in credentials because you’ll use them during all the years your child is in school.Gather Documents
Before you begin the application, assemble all the documents you will need to complete it. The list includes:- Student’s Social Security Number
- Parents’ Social Security numbers, if your child is a dependent
- Alien registration number if not a U.S. citizen
- Parents’ federal tax return
- Untaxed income, such as child support
- Cash, checking/savings account balances, and investments (stocks, bonds, real estate, but not your home)
- List of schools (up to 10) where information should be sent. You can add to this list later on if you need to.
The Deadline
Students have until June 30, 2024, to apply for the 2023-2024 academic year. However, it’s wise to apply early before the bulk of the funds has been awarded.More information and help with filling out the FAFSA are also available on the website: https://studentaid.gov
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