College nowadays is an expensive undertaking; depending on your child’s choice of college, you may end up paying hundreds of thousands of dollars. You won’t even be able to depend on the college fund that you saved up, since increasing fees mean the fund might not even be enough to cover the customary four years. This is why you and your child should consult expert college financial advisors to help you both with paying for college.
Experienced college planning advisors will help you focus on the main source of a lot of financial aid: the Free Application for Federal Student Aid (FAFSA) Program. Groups like The Studemont Group College Funding Solutions, LLC can help ensure that your application for FAFSA will be approved and you can get as much financial aid as possible.
One of the things that advisors can tell you about FAFSA is the basics. For one, many people are unaware that FAFSA application forms are only submitted once a year, and this holds even if you are applying to multiple schools. A new FAFSA application form is released at the start of a new year and if you don’t submit early enough, it may take time for the form to be processed, which is a delay you probably won’t be able to afford. Submitting the form early will require you to gather the appropriate documents and fill up the form properly.
Correctly filling out a FAFSA application is another thing the experts can help you with. Mistakes in your application can result in processing delays, such as submitting incomplete documentation. These include social security numbers, W-2 forms and tax returns, bank statements and financial statements. Properly filling up the form is also important. For example, you shouldn’t leave any blanks to answer questions about numeric figures; if the answer is zero, then fill it up with “0.” Since you’ll need to submit a FAFSA application annually, be sure to note any changes to your situation. Read the form carefully, too; there may have been changes since the previous version.
Financial aid is a necessary reality if you are short of cash for educating your child. Ensure that you get it by consulting experts like John McDonough from entities like The Studemont Group College Funding Solutions LLC.
TIPS FOR COMPLETING THE FAFSA, Scholarship.com
10 Tips to Prepare for the FAFSA, TeenLife