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September 16, 2024

Navigating the FAFSA Form: Your Guide to College Financial Aid

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FAFSA— you’ve heard of it, but do you really know what it is or how it impacts your college journey? For juniors and seniors in high school, this might seem overwhelming at first, but understanding FAFSA and how to apply for financial aid doesn’t have to be scary.

FAFSA guide for high school seniors applying to college at ¶¶ÒõÂþ»­

What is FAFSA?

The Free Application for Federal Student Aid (FAFSA) is a form you fill out to apply for financial aid for college or career school. It helps determine your eligibility for federal, state, and school-specific aid like grants, scholarships, work-study programs, and student loans.

After submitting your FAFSA, schools use your information to calculate your financial aid offer. You can add up to 20 schools to your FAFSA—just make sure you have their individual school codes.

What is FAFSA?

According to the website, you will need the following things to complete the FAFSA form: 

  1. Social Security Number (for U.S. Citizens) 
  1. A-Number (Non-U.S. Citizens) 
  1. Federal Student Aid (FSA) ID login to complete the FAFSA form online 
  1. Federal income tax returns, records of child support received; and current balance of cash, savings, and checking accounts (NOTE: You must provide consent and approval to disclose federal tax information to be eligible for federal student aid) 
  1. Bank statements and records of investments (if applicable), net worth of investments, businesses, and farms 
  1. Records of untaxed incomes (if applicable) 

If you are a , you will also need all of this information from your parents. 

Steps to Apply for Financial Aid at ¶¶ÒõÂþ»­ 

¶¶ÒõÂþ»­ wants to be financially accessible for students and 99% of students receive some kind of financial aid. Here is a list of steps to complete to receive financial aid at ¶¶ÒõÂþ»­: 

  1. Apply to ¶¶ÒõÂþ»­ 
  1. Create on the Federal Student Aid website 
  1. Complete FAFSA form using the ¶¶ÒõÂþ»­ FAFSA School Code: 001700 
  1. Receive student aid report (SAR) 
  1. Receive and return financial aid package  (You need to apply and be admitted to ¶¶ÒõÂþ»­ to receive a financial aid package.) 
  1. Accept student loans if needed (You can work with our Student Accounts office to help you.)

(For first-time borrowers, you need to go to the website and sign a Master Promissory Note (MPN) and complete Entrance Counseling) 

Getting Started! 

For seniors in high school, it’s important to make sure you are understanding what this all means. The best tip to avoid the stress and worry of FAFSA is to start early! The FAFSA form opens on October 1st, and it is best to get your form filled out as soon as possible so your school has plenty of time to receive your information and complete your financial aid package. 

Contact the financial aid office at [email protected] with any questions that arise while you navigate through your college journey. 

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Elgin, IL 60123

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