The most important financial aid form is the Free Application for Federal Student Aid (FAFSA). It is best to fill out this form as soon as possible after October 1st of your senior year.  We recommend having it submitted by mid-November but the deadline for most colleges is March 2nd. If your parents’ tax returns are not finalized by that date, they must use estimates rather than miss the deadline. There is time to file an amendment if the estimates are way off – just don’t miss that deadline. 
ACCESS THE FAFSA APPLICATION HERE
The FAFSA is automatically reviewed for grants, loans and work study.
  • Federal Pell Grants: Unlike a loan, a Federal Pell Grant does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a BA or professional degree. The maximum amount of the award is $4,000 per year.
  • Federal Supplemental Educational Opportunity Grants (FSEOG): A FSEOG is for undergraduates with exceptional financial need and gives priority to students who receive Federal Pell Grants. The FSEOG does not have to be paid back. The maximum amount awarded is $4,000 per year.
  • Federal Work-Study: The Federal Work-Study Program provides jobs for undergraduate and graduate students with financial need, allowing them to earn money at a campus job to help pay education expenses. The total Federal Work-Study award depends on when you apply, your level of need, and the funding level of your school.
  • Federal Perkins Loan: A Federal Perkins Loan is a low-interest loan for both undergraduate and graduate students with financial need. Your school is your lender, with government funds, with a share contributed by the school. You must repay this loan to your school. The maximum loan amount is $4,000 per year.
  • Subsidized or Unsubsidized Student Loans: Subsidized loans are awarded based on need, and interest does not accrue until after you have completed your studies. Unsubsidized loans are not based on needs and start accruing interest during your studies.
  • Federal PLUS Loan: These are loans available to parents of dependent students.

Note: If you list a California college on your FAFSA form, then you will automatically be considered for a Cal Grant, which is state-funded money which is not repaid. However, in order to be considered, you must complete and submit a GPA Verification Form no later than March 2. You can obtain this form from your counselor and it will be submitted electronically for a quicker response.

Once you have filed your FAFSA form, it will be processed and a Student Aid Report (SAR) will be mailed to you. If there are corrections to be made, make them at once and return the form as instructed. Remember that accurate figures from completed income tax returns are necessary.

A good website for tips on the FAFSA is CREDIBLE.

Step by Step VIDEO on completing the FAFSA