9 Things You Need to Apply for Student Financial Aid

Topic: Finances and Employment

As college applications are submitted and acceptance letters roll in, preparing to send your teenager to college is both exciting and stressful. The biggest concern for most parents during this time? Paying for it.

The first step to receiving financial aid for school tuition is through the Free Application for Federal Student Aid (FAFSA). Filling out and submitting the FAFSA is a process required of every student each year.

In South Carolina, the application will open in December this year and close June 30 but keep in mind, colleges may have their own deadlines. Grants based on financial need can run out quickly so be sure to apply for financial aid as soon as the application opens.

Here’s everything you and your child will need to get started:

  1. FSA ID. Both you and your child will be prompted to create a unique ID and password.
  2. Your child’s social security number.
  3. You and your spouse’s social security numbers.
  4. Your child’s Driver’s License number—if they have one!
  5. Your W-2.
  6. Tax returns.
  7. Records of untaxed income—this includes child support, interest income and veterans noneducation benefits.
  8. Information on cash, savings and checking account balances, and investments.
  9. A list of schools your child applied to—even if an acceptance letter has not been received yet.


While starting the FAFSA may feel daunting, gathering these materials ahead of time will help you and your college-bound teen finish the FAFSA with ease. Once the application has been submitted, take a breath and find a way to celebrate this milestone with your child!

 

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