Wondering what the FAFSA is? The Free Application for Federal Student Aid, or FAFSA, is a form that determines your eligibility for college grants, federal student loans, and other forms of financial aid. Filling out the FAFSA is completely free. Some aid is first come first served, so grab your laptop and secure that bag.
A little preparation will make filling out the FAFSA a lot easier! Before you begin your FAFSA online application, find out the answers to these questions for your FAFSA checklist:
- Are you considered a dependent on your parents' taxes, or are you independent?
- If your parents are divorced or separated, who did you live with most for the last 12 months? If the time is equal, who provided the most financial support? That is the parent whose information you will report. Include your stepparent's information too if applicable.
- Does your parent pay child support? Does your parent receive child support? Do you pay or receive child support? All of this will factor into your aid eligibility.
You will also want to gather the following important documents for your FAFSA checklist:
- Your Social Security number.
- Your parents’ Social Security numbers, if you’re a dependent.
- Your driver’s license number, if you have one.
- Records of untaxed income such as received child support, interest. income, and veterans noneducation benefits (for you and your parents, if you’re a dependent).
- Account balances for your savings and checking accounts, or your parents’ accounts if you’re a dependent.
- Investments like bonds and real estate, business and farm assets, and stocks.
- Email addresses for each contributor so you can invite them into FAFSA.
- Federal tax information or tax returns, from two years prior.
- Your Federal Student Aid (FSA) ID.
- You’ll have to consent to use IRS Direct Data Exchange.
- The FAFSA code for the schools you’re applying for; SEMO’s FAFSA code is 002501.
Having this information on hand will be a time saver while you fill out your FAFSA online application.