Preparing for College: The New Streamlined FAFSA

Everyone who has children interested in attending college is interested in financial aid! Its never too early to start planning for paying for your children's college education. One important tool that parents need to use is the FAFSA or Free Application for Federal Student Aid. The FAFSA was designed to be used to determine how much money a family is expected to be able to contribute towards college expenses. The results of the FAFSA can determine the amount of money in student grants, work study and loans. (Scholarships must be applied for separately.)

The good news is that the process has been streamlined. In the past, the form was extremely complex, difficult to complete, and frustrating because the smallest errors could cause problems with aid or significant delays. Now, the US Department of Education has provided instant estimates of the Pell Grant and student loan eligibility so students and their families don't have to wait weeks for the notification. Also, the web-based form now has skip logic so that students and their families never see questions that are not relevant to their own application. Also, tax information is available directly from the IRS.

Every parent wants their children to grow up and live happy and productive lives. The ability to go to college is something that many parents struggle to afford. Streamlining the process to receive financial aid helps all families access the resources they need to help their children reach their fullest potential.

For more information on the FAFSA, go to www.fafsa.ed.gov