FAFSA Information
By Kim Stezala

Did you know?

• The number one reason students who are accepted to college do not go to college is their lack of money.



• The government has money available for you in the form of loans and grants.

• As of January 1, 2006 applications became available for the FAFSA (Free Application for Federal Student Aid). This application allows you to find out just how much money is available and in what form (grants or loans), based on your family's income and the school you plan to attend. Once your FAFSA has been completed you will receive your SAR (Student Aid Report), which will tell you if you are eligible for financial aid and how much is available to you.

• You will need: your Social Security Number, driver's license (if any), W-2 forms, your parents' 2005 Federal Income Tax Return (Have your parents do their income taxes early!), 2005 untaxed income records (Social Security, Temporary Assistance to Needy Families, Welfare, or Veterans Benefits), 2005 Bank Statements, and your alien registration card (if you are not a US citizen).

• No, by filling out the FAFSA you are applying for all of these things within one application.

• You can get the FAFSA from your school guidance counselor, or visit the website at www.fafsa.ed.gov .

The FAFSA is a nationwide application process and only needs to be completed once per school year, even if you have not chosen your school. The FAFSA allows you to indicate multiple schools to which the application will be sent.

Remember to apply for scholarships too! COMPASS Guide offers profiles on more than 700 scholarships. Log on to www.compassguide.org to find scholarships that are available to you. Start searching for scholarships right away.

Don't wait until the last minute to find out how you are going to pay for college!

Loans= you must pay back
Grants= you do not have to pay back
Scholarships= you do not have to pay back