Howdy Readers!

I am sure all of you are anxiously counting down the days until the 2011-2012 FAFSA becomes available at www.fafsa.gov on January 1, right?  <insert sarcastic chuckle here…>

In all seriousness though, what might be more accurate is that you all are getting a little anxious about what the results of completing the FAFSA will be and the effect that it will have on the financial aid packages you are offered from each of the schools you submit it to.  Am I a little bit closer?

Wouldn’t it be great if there was some kind of tool that allowed you and your family to get a general idea of what your EFC (Expected Family Contribution) might be, now…before the FAFSA becomes available on January 1, 2011?

Well my friends, I’m here to tell you that there IS!  And it’s called the FAFSA4caster (clever, yes?).

The FAFSA4caster is a US Department of Education tool that is available for students and their families to complete for FREE at www.FAFSA4caster.ed.gov and provides you with an opportunity to estimate what your EFC might be and the kinds of financial you might be able to expect as a result of it.

As noted on the 4caster website:

FAFSA4caster will help you get an early start on the financial aid process by:

• Providing you with an early estimate of your eligibility for federal student aid.

• Giving you an experience similar to FAFSA on the Web
• Allowing you to transfer all of your FAFSA4caster data to FAFSA on the Web once you are ready to apply for aid.
• Providing you the option to apply for your Federal Student Aid PIN.
• Increasing your knowledge of the financial aid process, and providing information about other sources of aid.

As you can see, the 4caster provides each applicant a number of benefits.  Maybe most importantly, it provides you with an opportunity to get a real-life feel for what it’s like to complete the FAFSA on the web.  Completing it for the first time can be very stressful! So pull out a copy of your parent’s tax returns from a previous year and get some experience looking for the information that the FAFSA is going to be asking you.  Where exactly is line 37 on my parent’s 1040?  The better prepped you are to complete your FAFSA when the time comes, the more accurate your EFC will be and the more accurate your financial aid award letters will be.  Many schools may provide an Estimated Award Letter based on the preliminary information you entered on your FAFSA and then ask for verifying documentation (tax returns, etc.) after you deposit and confirm your enrollment.  If you made an error on your FAFSA and your school then corrects that error once they have your tax returns, there could very well be quite a large difference between your Estimated and Final Award Letters. 

NO financial aid administrator expects you to be completing your FAFSA with 100% accuracy.  What they DO expect, though, is that you complete it to the best of your ability with a sense of honesty, responsibility and integrity – just as you should expect the same from your financial aid office. 

Give it whirl! www.FAFSA4caster.ed.gov  just in case you’ve forgotten…

And let your countdowns begin…39…38…days and counting…but who’s keeping track? Certainly not me…

Amanda