5 Financial Aid Tips
Hi, My name is Crystal Finefrock and I am the President of NHASFAA (New Hampshire Association of Student Financial Aid Administrators) and have worked in the financial aid office at Plymouth State University for over eleven (11) years. As the "financial aid season" is now here, I wanted to share a few things that you might find helpful:
#1: MEET DEADLINES
Know what financial aid applications are required and the filing deadlines for each application; this will maximize your financial aid eligiblity.
If your IRS Tax Return is not completed prior to an institution’s filing deadline, file the Federal Application for Federal Student Aid (FAFSA) with estimated information based on your 2010 tax returns or last paystubs from 2011 to ensure that deadlines are met.
#2: IRS DATA MATCH
Once you have filed your tax return (both the students and the parents) and the IRS has processed the tax return, you must update your information on the FAFSA form. This is easy! Log into the FAFSA, change your tax filing status to "I have already completed my tax return" and you will be prompted to complete the IRS Data Match. Using the IRS Data Match may save you time later on in the process!
Note: Some may not be eligible to complete the IRS Data Match, including the following two examples: "married filing separately" and "married filing head of household." If you are unable to complete the match, manually make any necessary corrections to your financial data and submit.
#3: APPLY FOR SCHOLARSHIPS "OFTEN AND EARLY"
This helpful hint says it all! Visit your High School’s Guidance Office Today!
#4: HOW WILL A SCHOOL COMMUNICATE WITH YOU
It is critical to find out how each of the colleges will correspond with you. Will they be sending everything through the mail, will it only be online, or will it be a combination of both? You don’t want to wait for an award letter or other necessary information and then find out it’s been sitting in a portal on the school’s website for weeks.
#5: FINANCIAL AID ADMINISTRATORS ARE HERE TO "HELP YOU!"
Financial aid administrators ARE YOUR FRIENDS! Financial aid administrators across the country are ready to help you through the financial aid process. Don't be afraid to pick up the phone, or send that email, to find the answers to all of your questions!
Wishing you all the BEST!!!
Crystal
#1: MEET DEADLINES
Know what financial aid applications are required and the filing deadlines for each application; this will maximize your financial aid eligiblity.
If your IRS Tax Return is not completed prior to an institution’s filing deadline, file the Federal Application for Federal Student Aid (FAFSA) with estimated information based on your 2010 tax returns or last paystubs from 2011 to ensure that deadlines are met.
#2: IRS DATA MATCH
Once you have filed your tax return (both the students and the parents) and the IRS has processed the tax return, you must update your information on the FAFSA form. This is easy! Log into the FAFSA, change your tax filing status to "I have already completed my tax return" and you will be prompted to complete the IRS Data Match. Using the IRS Data Match may save you time later on in the process!
Note: Some may not be eligible to complete the IRS Data Match, including the following two examples: "married filing separately" and "married filing head of household." If you are unable to complete the match, manually make any necessary corrections to your financial data and submit.
#3: APPLY FOR SCHOLARSHIPS "OFTEN AND EARLY"
This helpful hint says it all! Visit your High School’s Guidance Office Today!
#4: HOW WILL A SCHOOL COMMUNICATE WITH YOU
It is critical to find out how each of the colleges will correspond with you. Will they be sending everything through the mail, will it only be online, or will it be a combination of both? You don’t want to wait for an award letter or other necessary information and then find out it’s been sitting in a portal on the school’s website for weeks.
#5: FINANCIAL AID ADMINISTRATORS ARE HERE TO "HELP YOU!"
Financial aid administrators ARE YOUR FRIENDS! Financial aid administrators across the country are ready to help you through the financial aid process. Don't be afraid to pick up the phone, or send that email, to find the answers to all of your questions!
Wishing you all the BEST!!!
Crystal
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