Paying For College: Financial Aid Forms (FAFSA)
BOSTON (CBS) - In the past we have done this series in January because folks were just beginning to fill out the dreaded financial aid (FAFSA) forms, but this year they have been available since October first for parents to fill out.
The Massachusetts College Goal Sunday is now the FAFSA Day Massachusetts. Don't get hung up on the name; this is a program that provides free information and assistance to Massachusetts families applying for financial aid.
There are over 30 locations in Massachusetts where these workshops will be held with dates starting last weekend with most being held in November. For those of you who procrastinate there will be a few during the winter months. Check their website for more information.
There will be financial aid professionals from Massachusetts colleges and universities to help families and students complete the Free Application for Federal Student Aid (FAFSA), which is required for students seeking financial aid, including grants and loans.
Download the (FAFSA) form and review it before you attend. They ask for financial information from the parents such as your income, assets and savings. A stepparent's information will be required as well.
The sooner you get this form in the better your chances are for getting financial aid. This is serious stuff; get it in too late and there may not be any money left for the schools to give out. They like to send out the acceptance letter and with it the award letter, with your financial-aid offer.
You may receive a financial aid shopping sheet created by the Consumer Financial Protection Bureau. This form includes important information including a school's graduation record, the loan default rate and median borrowing at that institution.
If you are thinking about attending a FAFSA workshop, plan to be there a couple of hours and you need to bring some information with you. Check their website for more information and to register.
What to Bring:
- 2016 Federal Tax Return
- Social Security numbers
- Driver's license
- 2016 W-2 Forms or year-end pay stubs and other year-end
records of money received such as 1099s - Current bank and investment statements
- 2016 business and investment information
....................
You can hear Dee Lee's expert financial advice on WBZ NewsRadio 1030 each weekday at 1:55 p.m. and 3:55 p.m.
Subscribe to Dee's Money Matters newsletter here.
