FAFSA: Deadlines, PIN Numbers and Other Requirements You May Not Know About

Hurry up!

You could be out in the cold on federal and state funding if you are not on the ball (read “early”) in getting started on your Free Application for Federal Student Aid (FAFSA) form. Follow the best advice of Sallie Mae, the largest student loan provider in the country, and get your paperwork handled early. The charge is led by an article today in the The Southern outlining just how many pieces of the FAFSA puzzle you risk missing.

The article emphasizes the importance of filing well before the deadline. But what exactly you might ask is the deadline.

The Deadline

Check out these FAFSA deadlines for federal and state funding. The deadline concept is important: you must consider that every entity that loans money has a deadline for the FAFSA. This means you must make the earliest date to catch them all: federal, state and college. The next most important concept is that there are quite a lot of funding opportunities tied to the FAFSA. It’s much more than just a tool to get a Stafford Loan:

“’The cost of missing a deadline can be measured in real dollars,’ said Martha Holler, a financial aid expert with Sallie Mae. ‘Some states have lots of free money, but if you apply after their deadline, you jeopardize your chance of getting some. And when it’s gone, it’s gone.’”

Filling out the FAFSA is not something to be done over a 10-minute coffee break, either. The FAFSA, it’s already been charged, is a long-winded, dinosaur of a document whether you do it in hardcopy or online—it’s eight long, grueling pages. Not only does it require you provide all manner of information short of the kitchen sink, you also need to apply for a PIN ahead of time. The PIN allows you both access to the electronic version, which is preferred, as well as a means by which to electronically sign the behemoth document before you file online.

Also, make sure you are up to snuff on your home state’s requirements, too. In some cases you may also need to fill out their application to qualify for specific state funds, including loans, grants and scholarships. And of course, make sure you know the deadline for this form if one is required.

The Right Documents

Here’s a list of personal documents you will need to collect in order to get ‘er done:

• Last year’s tax returns. Haven’t done them? Better hop to it. Yours and your kid’s.
• Bank and investment statements and records.
• Drivers license number, social security number, and/or alien registration number.

Think you might make too much income to sign up for federal loans? Don’t waste one more minute trying to run the figures: fill out the form no matter what.

Here is the FAFSA website for your reference.

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