President Obama has promised to improve this nation’s student financial aid system, and that includes overhauling the process of applying for assistance. Top on the President’s list is the Free Application for Student Aid, AKA the FAFSA, which is currently a long and rather complex document that needs to be filled out on line or on paper in order to qualify for federal aid. The document asks students questions about their family’s income, savings and other resources in order to determine how much assistance one is eligible for. The President Education Secretary, Arne Duncan, has recently announced that the Administration plans to completely eliminate the FAFSA and rely instead on an individual’s tax returns to figure financial aid. Secretary Duncan plans to launch...

Welcome to the final part of the Financial Aid Finder’s five-part FAFSA Workshop. If you want to catch up on parts 1-4, follow these links: Essential FAFSA Documents FAFSA PIN Common FAFSA Blunders FAFSA Deadlines Well, we have arrived at the final installment of our FAFSA workshop. For some of you, this may no longer be relevant, since you had March 1st (or earlier) deadlines by which to complete your FAFSA. If you are still working on your application, however, you might find some good tips in today’s FAQs. A special thank you to everyone who sent me their questions. I hope that our answers today are able to help you, but if you are still confused, leave me a comment below so I can follow up with you. I am applying to three private schools and two state schools. How many FAF...

Welcome to part 3 of the Financial Aid Finder’s five-part FAFSA Workshop. As the month of February winds its way down, many of you have just days or weeks left to finish up your FAFSA. In the first two weeks of our series, we gave you a list of the Essential FAFSA Documents and talked about How to Get a FAFSA PIN. Next week we will review the various state and federal FAFSA deadlines and then in week 5, we will be taking your FAFSA questions (so send ‘em in to me on email or leave me a comment.) Today, we are taking a look at some of the most common mistakes students make when completing their FAFSA. I know this process can feel overwhelming when you first get started, but it’s important to stay focused. Mistakes on the FAFSA are serious business, since they can delay...

Welcome to part two of the Financial Aid Finder’s online FAFSA workshop. (Go here to read Part 1: The Essential Document Checklist .) The FAFSA is the Free Application for Federal Student Aid and it is your key to unlocking the treasure chest of federal financial aid. In order to help you maximize your student aid award, we are running a five-part series on FAFSA basics. This week, we are looking at the FAFSA Pin — what is it? Do you need it? And how do you get it? Coming up soon, we will cover: •    Common FAFSA Blunders & How to Avoid Them •    What’s your FAFSA deadline? •    FAFSA FAQs So, without further adieu, on to the FAFSA PIN. You probably already know by now that you can complete the FAFSA on paper or online. There are numerous benefits...

Do you need help with your financial aid application? Are you worried about how to complete your FAFSA in order to maximize your student aid award? If your answers were yes and YES, then you need to know about College Goal Sunday. I just read about this free nationwide program in my local Saturday paper. I was so impressed with what I read that I jumped online to learn more. Here’s the deal: The goal of College Goal is to help students and their parents navigate the financial aid process. On Sunday afternoons throughout the winter, College Goal Sunday stages free help sessions at different sites across the country. Financial aid professionals will be on site to offer hands-on help completing your FAFSA and answering your other financial aid questions. To learn more about this fre...

February 4, 2009 by Mara Strom Welcome to the Financial Aid Finder’s online FAFSA workshop. The FAFSA is the Free Application for Federal Student Aid, which is your key to the treasure chest of federal (and even some state) financial aid for college. If you want to qualify for federal student loans, federal grants (that’s free money, people!) or federal work-study programs, you must fill out the FAFSA. Every college has its own deadline, so check with your school’s financial aid office immediately. In the meantime, you can start working your way through our five-part workshop on completing the FAFSA and maximizing your student aid award. Here’s a schedule of topics: Checklist of essential documentation What’s a PIN and how do you get one? FAFSA Blunders W...

The month of January is winding down, which means the days are rapidly ticking away until tax the dreaded tax filing deadline (AKA April 15, 2009). If you are planning to apply for financial aid, however, you have even less time than you may think. That is because you can not complete your FAFSA, the Free Application for Federal Student Aid, until you have your and/or your family’s federal tax return in hand. So, while you busily scurrying around searching for receipts and calculating itemized deductions, you might also want to start figuring out what you will need to complete your FAFSA. If that sounds to daunting to deal with just yet, take five. Five minutes that is. I found this great five-minute video on You Tube, which is the perfect introduction to completely your FAFSA. F...

September 22, 2008 by Mara Strom A panel of financial aid experts thinks that America’s federal financial aid system needs a major overhaul.  According to the Rethinking Student Aid study group, these changes include simplifying the application process (aka FAFSA, or the Free Application for Federal Student Aid) and increasing Pell grant maximums. The most sweeping change recommended by the Fulfilling the Commitment report is the creation of federally-funded college savings accounts for children from low-income families. Each year, the government would add money to a fund for each eligible child, until that child turned 18. To draw on the fund, the money would have to be used to cover approved college expenses.  The group recommends starting the program from the age of 5. The G...

July 15, 2008 by Mara Strom Some of you may be wondering whether qualifying for a federal loan is really that big of a deal. You figure money is money, and debt is debt. Plus, you’ve heard that applying for and getting accepted for a private loan is easier and faster. While it’s true that any green will pay the bills, not all loans are equally emerald. Here’s a look at the major differences between federal and private student loans. Federal Student Loans Backed by the U.S. government, federal student loans are available through your school (Perkins loans) or through lenders and banks (Stafford and PLUS loans). To qualify for a Federal Student Loan, you must complete a FAFSA, the Free Application for Federal Student Aid. Benefits of federal loans include: • Lower, ...

July 7, 2008 by Mara Strom Most of the time I come here and talk about what you should do to get financial aid…Gentle reminders about filing before the FAFSA deadline, applying for as many scholarships as you can, and picking the right student loan to cover the gap. Well, today, I’m going to be a little more ruthless. I’m going to tell you what NOT to do — under any circumstances — if you want financial aid. Don’t let one of these goofs gut your chances for the education you want and deserve. 1. Not Applying for Financial Aid This made sound too obvious to be true, but many students and their families assume they won’t qualify for financial aid so they don’t even bother applying. They think they make too much money — but even families makin...