If you have ever completed the Free Application for Student Aid (FAFSA) on the web, you probably remember it as a tedious process that may have been frustrating, or at the very least, time consuming.
The good news is renewing FAFSA on the web is not the same time commitment as the initial application. The U.S. Government makes it pretty easy to renew your FAFSA application on the web and the benefit to this is online applications are processed far more quickly than the old paper applications.
Another benefit to renewal of FAFSA on the web is the fact it is less work for you. Most of the information is prefilled in and all you need to do is basically go in and ensure all data is up to date and add only the current year’s details. This is a terrific advantage because all you have to do is update any personal information, current tax return data and you’re good to go.
Here are a few tips for FAFSA renewal:
• PIN Number
Your PIN number is the gateway to your files which are stored within the FAFSA system and this number does not change. Be sure to always keep your in a safe place from year to year because you will need this identifier to access, update and, ultimately, file your application every academic cycle.
• E-mail Address
As you update information, a primary detail is to ensure your e-mail address is current on the application. Since e-mail is the primary source of communication, it is vital to have this information correct on your renewal application.
• Gather Tax Information
In order to renew FAFSA you’ll need to have access to specific financial information. Gathering these details ahead of time makes renewal go all the more quickly. You’ll need the most recent tax return, and if you are under the age of 24, there is a requirement to also include your parents’ relevant tax information.
• Check Each Line
When the renewal form is completed, always remember to double check to ensure the FAFSA application is filled out in its entirety. Missing questions or not updating required information can result in significant delays in processing your application. Another important detail to remember is if you intend to change educational institutions, update the college code to reflect that of your new school.
Renewing FAFSA on the web is worth the effort. Don’t miss out on the opportunity to receive a potential award, or at the very least, a good student loan. Remember there are a few sites which will try to charge you money, but filing the FAFSA is a free process and does not cost you a cent. Beware of lookalike websites and only renew your FAFSA at the official FAFSA webpage. This website, for the most part, will walk you right through the entire process.