Fear not the FAFSA

While the acronym FAFSA may sound like a disease, the Free Application for Federal Student Aid may be no less frightening for some parents of college bound students.

Completing the application is essential, however, as it determines eligibility for federal aid. It also calculates the expected family contribution (EFC), required to qualify for scholarships, grants, loans and work-study programs.

To remove fear from the process, Montgomery County Community College is hosting free assistance sessions for all college bound students at 10 a.m. and noon on Feb. 12 at both its Central Campus, 340 DeKalb Pike in Blue Bell and its West Campus, 101 College Drive in Pottstown. Pre-registration is required.

Denise Nuccio is the college’s financial aid generalist and is coordinating the event. Last year would have been the third year the college hosted the sessions; however, snow caused administrators to cancel.

One of the main reasons for holding the event is to make sure that students, regardless of where they plan to attend, meet school application deadlines and that the FAFSA is filled out accurately.

“Even simple mistakes could delay processing,” Nuccio said.

Each college may have a different deadline, Nuccio pointed out. For instance, Penn State has a Feb. 15 deadline, but Montgomery County Community College has a May 1 preferred deadline.

The preferred deadline helps to facilitate the school’s scholarship program awards.

 Students should check with the college(s) they are interested in attending and ask about their definition of an application deadline. For some it may be the date they receive the FAFSA, for others it may be the date it is processed.

 The event makes it easier for college administrators as well.

 “We don’t have to ask for additional information,” Nuccio said.

Students should bring along their parents if they are 23 or younger. Both need to bring social security cards, driver’s licenses, 2010 federal tax returns and W-2 forms, as well as information on savings, investments, and any other assets they may have.

For students with divorced parents, the parent with whom the student has lived with the most during the previous year is responsible for completing the FAFSA. If time with both parents is equal, the parent who has provided the most financial support in the preceding year should fill out the FAFSA. Any child support and/or alimony is reported, according to the Smart Student Guide for Financial Aid

Students ages 24 or older need only bring their identification and financial information.

The biggest surprise for folks after completing the FAFSA, according to Nuccio, is that they think they are going to get more funding.

“It’s always a good idea to do it early. If you waited, you wouldn’t be able to properly plan or afford to go (to a particular) school,” she said. “Then families make very personal decisions as to whether they incur additional loans or set up a payment plan.”

Click to register or for more information about the event.

For more college financial aid resources, visit: http://studentaid.ed.gov/students/attachments/siteresources/Funding_Educ...