Students planning to head off to college next fall should put filing the FAFSA form at the top of their New Year’s to-do list.

Starting Tuesday, anyone planning to attend college next year can jump-start the financial aid process by filing the Free Application for Federal Student Aid.

“If there is anything that is critical, it’s the FAFSA,” said Agnes Canedo, the director of financial aid at Central Washington University. “It’s important to submit because it does put you in consideration for all federal aid and all state aid.”

The form uses annual income information, bank statements and investment records of students and their parents to determine the family’s ability to pay for college. Other factors, such as the number of family members and how many are already in college, also help determine the family’s eligibility.

As the cost of higher education rises, so does the amount of financial aid available to help with those costs. Department of Education officials expected to give out $82 billion in grants, loans and other assistance in 2006.

Before students can qualify for any of that financial aid, however, they have to complete the FAFSA.

“It really is an important document to complete,” said Tom Alex, interim director of financial aid at Yakima Valley Community College. “You can’t get anything if you don’t apply, basically.”

The FAFSA is also used by most colleges and universities to dole out need-based financial aid available directly through the schools.

And since most need-based federal and state aid is awarded on a first-come, first-serve basis, the sooner the FAFSA is filed the better. Though the annual income information relies on tax filing information, Alex said filing taxes first is not essential to getting the process started.

The form can be completed based on estimates, but more accurate information should be updated online at www.fafsa.ed.gov after obtaining a pin number.

“Some parents and students feel they need to wait for their tax return before they fill out the FAFSA …,” Alex said. “The real key is to file early, as early as possible. Then use your pin to update the information when you do get your tax return.”

Families will be notified once the free application is filed, and Alex said it is important to review that information for accuracy when the paperwork arrives.

Central’s Canedo even encourages students who are not citizens to file the form. Though they are not eligible for federal or state aid, once the form is filed noncitizens are in the running for many forms of aid given by individual colleges or universities.

“That can be a scary thing for noncitizens,” Canedo acknowledged.

Canedo also said consistency is important for the financial aid process. It’s important to make sure the name used on the FAFSA form is the same legal name that appears on the student’s social security card and college application.

In addition to filling out the FAFSA, students should be looking to community service organizations, parents employers and the Internet for other outside scholarships.

People struggling with the forms should have no trouble getting advice.

In addition to the FAFSA Web site, Alex noted, most financial aid counselors and high school guidance councilors are willing to help with questions.

“We offer our assistance to anyone, basically, who needs it,” he said. “If you have problems with the application, please ask because that’s what we’re here for.”

* James Joyce III can be reached at 577-7675 or jjoyce@yakimaherald.com

The YVCC financial aid office is holding three FAFSA presentations in the area during January.

* Wednesday at West Valley High School starting at 7 p.m.
* Jan. 9 at Riverside Christian School starting at 7 p.m.
* Jan. 17 at Davis High School starting at 6:30 p.m.

For more information, visit www.fafsa.ed.gov or contact your local high school guidance counselor or financial aid office.

This entry was posted on Monday, January 1st, 2007 at 10:21 pm and is filed under Education, Financial Aid. Tags: College, Education, Financial Aid, Grant, Loans, Scholarship, Student. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.