FAFSA Readiness: A Family Guide to Paying for College

There are a number of resources available, and understanding your options early can make the college planning process much easier. One of the best places to start is the FAFSA. You may be surprised by the types of aid your student could qualify for that doesn’t need to be paid back. Completing the FAFSA can give your family a clearer picture of the resources available to help pay for college. 

If you are wondering how to fill out the FAFSA as a parent, below is a step-by-step guide that covers what the FAFSA is, why your student should apply and how, and where to go for help.   

What is the FAFSA, and Should Your Student Apply?  

The FAFSA stands for the Free Application for Federal Student Aid. This form is used to determine a student’s eligibility for different types of financial aid and is administered by the U.S Department of Education. The form is submitted online for free through studentaid.gov. 

Submitting the FAFSA may help your student qualify for:  

• Grants: Financial aid that you do not pay back, like the Federal Pell Grant 

• Work-study: Part-time employment for students with financial need that allows you to earn money while enrolled 

• Federal loans: Low-interest loans from the federal government to help cover tuition expenses and is to be repaid later 

• Some scholarships: Certain schools or organizations may use FAFSA information to determine eligibility for need-based aid 

So, who should apply for the FAFSA? Any student who wants to be considered for federal, state, or institutional financial aid should complete the FAFSA, regardless of family income. It’s also important to note that filing the FAFSA does not mean your student has to accept every type of aid that is offered, but having the option does give you more resources on deciding how to pay for college.  

Remember, your student will have to complete the FAFSA every year they want to be considered for federal student aid.  

How Do You Fill Out the FAFSA as a Parent?  

The FAFSA is completed fully online at studentaid.gov. Make sure to set aside at least 30 minutes to complete, or you can always save your progress on your account and come back later. 

What Parent Info is Needed for FAFSA?  

Knowing what parent info is needed for FAFSA before you begin can make the process go much smoothly. Depending on your family’s circumstances, you may need info like:  

Personal information 

• Social Security Number 

• Email address  

• Phone number  

• Date of birth 

• Marital Status 

Financial Information 

• Records of any child support received, if applicable  

• Records of certain assets, businesses, or income-producing farms, if applicable 

The FAFSA will guide you on what information your family should provide. Once you’ve gathered the required information, you can start the filing process.  

1. Create Your StudentAid.gov Accounts 

Your student will need their own studentaid.gov account. Parents or other contributors will also need individual accounts to complete their portion. Each person (student and parent) will need their own email address and phone number to login. Be sure to keep usernames and passwords somewhere secure, as you will need them again to review information or make changes.  

2. Start the FAFSA 

The FAFSA is your student’s application, so it’s generally best for them to begin the form. From there, they can invite you or any other required contributors to complete your required sections. This is usually done via email, which prompts you to log in and fill out your section.  

To make the process easier, the FAFSA automatically pulls in tax details from two years prior using the IRS Direct Data Exchange, so you don’t have to manually enter your tax details.  

Once your portion is complete, it will kick the form back to your student to complete the rest.  

3. Add SEMO 

After your section is done, the form is sent back to your student. It will ask them to include their university. They should include SEMO so we can receive their FAFSA information.  

SEMO’s FAFSA school code is 002501.  

4. Review and Submit 

Before submitting, review the information entered by both you and your student. 

After submitting, continue checking email for updates or requests for additional documentation.  

Should You File the FAFSA Early?  

Yes! Filing your student’s FAFSA early is a good practice because some types of financial aid may have limited funding. 

Completing the form early can give your student more time to:  

• Respond to requests for additional information from FAFSA 

• Have ample time to review available aid  

• Apply for scholarships  

• Plan for any remaining expenses 

Should My Student Still Apply for Scholarships?  

Absolutely! Scholarships can make a big difference when it comes to paying for college. Even a few smaller scholarships can add up and help reduce out-of-pocket expenses during the school year. 

Your student can apply for scholarships with help from their high school counselor. They can guide them and connect them to opportunities available through local organizations, community foundations, or civic groups.  

SEMO also has scholarships for incoming students, transfer students, and more! Be sure to check out the different types of scholarships your student can apply for, some are even stackable! 

Where Can Parents Get Help With FAFSA?  

Navigating the FAFSA for parents can  come with questions. That’s why SEMO’s Student Financial Services team is here to help guide you and your student through the FAFSA process.  They can answer financial aid questions, explain your options, and help your family understand the financial side of college. 

Contact Student Financial Services at (573) 651-2253 or email sfs@semo.edu 

SEMO believes in the value of a college degree, so we work to make paying for college understandable and unintimidating. Taking these steps now can make a huge difference later. Start by completing the FAFSA, exploring scholarship options, and asking questions. 

We can’t wait to see your student find their fearless future at SEMO!