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Can you FAFSA?
 Sally Mullen, associate director of student financial aid at Southern Illinois University Edwardsville, answers Lawandria Freeman's questions about financial aid. COLLEGE CONNECTION MAGAZINE
If you have a child considering college, by now you've probably head mention of the Free Application for Federal Student Aid, or FAFSA, so many times that when its acronym is casually thrown around you know exactly what's being discussed. Your pulse, however, may react differently. When you think about FAFSA's significant role in determining a college student's financial aid award and, thus, your child's college destination, preparing the form may be a bit unnerving. Here are tips from local experts that will help you through the process. First Things First "We recommend that anyone interested in any type of aid -- even loan assistance and scholarships -- fill out the FAFSA," said Sally Mullen, associate director of student financial aid at Southern Illinois University Edwardsville. "A lot of schools want students to complete FAFSA to make sure they receive need-based aid first -- before awarding academic scholarships," Mullen said. Eligibility for aid depends on the student's Expected Family Contribution (which is determined after filing), the student's year in school and enrollment status, as well as tuition costs. Mullen said financial-aid packages can range from zero dollars to the total cost of attendance. One factor that influences the amount awarded is the date the FAFSA is submitted. Filing for the 2010-2011 academic school year begins January 1, 2010. Most institutions don't begin awarding money until March 1; however, each school has its own deadline, so be sure to contact them directly. This being said, experts still recommend filing as soon as possible. "Some programs are given out on a first-come-first-serve basis," Mullen said. In order to file as early as possible, she suggested preparing income-tax forms early so the numbers are available for the FAFSA form, and she recommended filing the FAFSA electronically (at www.FAFSA.ed.gov). "You don't have to actually send your tax returns to the IRS before filling out the FAFSA," she added. If you're still waiting for important tax documents to arrive, Cari Wickliffe, assistant vice provost for enrollment management and director of student financial services at Saint Louis University, recommended filing the FAFSA using estimated information from last year's income-tax forms and updating the numbers later. In the meantime, students and parents can review the FAFSA form and worksheet online and apply for a PIN, which allows them to access and electronically sign the FAFSA, Wickliffe suggested. After the first year of school is behind you, filing the FAFSA isn't as intimidating because people know what to expect, Wickliffe explained. And yes, students are encouraged to file annually. "Their situation can change and so can the federal formula," she said. To file FAFSA online, you will need the following materials: -- Social security card, driver's license and/or alien registration card if not a U.S. citizen; -- Student's income-tax returns, W-2 forms and 1040 forms for the previous year (if married, spouse's documents are needed as well); -- Parents' income-tax returns, W-2 forms and 1040 forms; -- Documentation of other untaxed income; -- Current bank statements and records of investments; -- Current mortgage information (if applicable); -- Business or farm records (if applicable); -- Records relating to any unusual financial circumstances; -- Title IV Institution Codes for each applied to. What's New This Year One change is the expansion of questions involving a student's dependency status. "This is what determines whether or not a student needs to include parent information," Wickliffe explained. "This impacts those in foster care, emancipated minors, minors with legal guardians and children designated as homeless or at risk of being homeless." Another significant change gives additional allowances to dislocated workers, Wickliffe said. "With so many people laid off, this one is huge right now." Filing Assistance is Available There are a variety of resources available to get you through any problem. For starters, call the Federal Student Aid Information Center at 800-4-FED-AID (800-433-3242), or visit the live help link on the website. If further assistance is necessary, "students should utilize financial aid officers at the schools they have chosen or are interested in," Mullen explained. "Don't ever pay someone to do the FAFSA for you because that help is available for free." "We have a team of advisors who take walk-in families and students," Mullen said. In addition to FAFSA questions, "we council them on what their costs really will be versus what their aid eligibility really is -- and help them make wise decisions about debt. We don't want students to just take the maximum financial aid package offered. We know they will regret it in the future." According to Leah Preston, director of guidance and counseling at Cor Jesu Academy in South County, more parents are including their children in such financial discussions. "Some girls are willing to take out loans to get to the schools they really want to go to," she explained. "Parents are trying to help them be realistic. They don't want them to be burdened." Sometimes parents can use a little extra coaching, too. "It's important for parents to tell a school if there are special circumstances, such as a major illness in the family or a job loss, because the school will work with them," Preston said. "Parents need to learn to be honest about their circumstances and [share] it with the financial aid office at the school where their student is interested in going." Hard Work Pays Off As many families discover after filing the FAFSA for the first time, the process may be time consuming, but it is not impossible. Just remember to file early and know help is available when questions arise. In the end, your effort may make it possible for you and your child to take on less debt and still attend a first-choice school.
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