1. File for financial aid as soon as possible after January 1st.
While the deadline for applying for financial aid isn’t until June 30th, there are several reasons why you should apply for financial aid ASAP:
- Several states and many colleges have deadlines earlier than June 30th.
- Several states award grants on first come, first serve basis until the funds deplete.
- Many colleges award scholarships on first come, first serve basis as well.
- Some colleges award more generous financial aid packages to students who apply earlier.
To view a complete list of state deadlines, click here.
2. Consider other financial aid sources.
The FASFA isn’t the only route you can go for financial aid. Make sure your student applies for outside scholarships and merit-based scholarships. Also, consider education tax benefits and private students loans.
3. Apply for financial aid every year, even if you weren’t awarded any the year(s) before.
The formulas used to determine financial aid amounts are very complicated and even the slightest change in family income or situation can cause a bump in the amount awarded to your student.
Some examples of factors that can have an impact on financial aid eligibility includes:
- The number of children a family has enrolled in college
- The student’s income, assets, and capital gains
- The family’s income, assets, and capital gains
- Marital status
- Bonuses
- Household size
4. Request a professional judgement review.
If you are going through an unusual situation, you can contact the college financial aid office and request a professional judgement review. You will be able to provide documentation and reasoning why your child requires more financial aid.
5. Lastly, know that Hauk Kruse & Associates can help you complete the FASFA.
We know that the FASFA is a difficult, time-consuming, bothersome thing to complete. If you have any problems filling it out, you can always ask us for help – it’s what we’re here for.
If you have any questions or would like help completing the FASFA, please feel free to call our office at 314-993-4285 or email us at office@hkaglobal.com
