Easier FAFSA Form Finally Available? January 8, 2010
Ian Welham discusses the new FAFSA form changes for college financial aid
A promised new and improved FAFSA (Free Application for Federal Student Aid) form will make its debut this month for schooling through June and will then be available in the beginning of July for college financial aid for the 2010-2011 year.
The form is supposed to be much more user-friendly, including fewer questions and an easier online interface. (The reason I say “supposed to be” is because the Department of Education has promised a simpler FAFSA form for years, but has yet to deliver marked improvement.)
Another potentially exciting feature is the ability to instantly receive your Pell Grant estimate and student loan eligibility which previously could take weeks to obtain.
But perhaps the best new improvement is the IRS data-retrieval process. This process will allow students and their families to briefly exit the FAFSA form and go to the IRS site. At the IRS site families can view previous tax information and even transfer that information directly to the FAFSA form. A big time saver, if it works as advertised.
A couple things to keep in mind about your FAFSA forms and student aid. You must fill out a new FAFSA every year that you attend college. Apply as soon as possible! This is the only way you can ensure that you will receive your fair share of the federal money. Do not wait until you file your taxes; you can provide an estimate and then correct it later on.
Although the FAFSA form will be easier it can still get overwhelming, so secure help to make sure you get it right. The right professional can ensure that you will receive your portion of the $168 billion dollars available for student aid!
