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General information for people seeking debt consolidation and/or credit counseling
 

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US Department of Education

"Mission is to ensure equal access to education and
to promote educational excellence for all Americans."

Following are some tips that applicants may find useful:

Applying for federal aid is free. Filling out the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov is the first step in the process. Students can file electronically or on a paper application. Students are also encouraged to talk to the financial aid directors at the schools they hope to attend to learn about financial aid packages and other sources of assistance. Most states and schools make determinations about aid eligibility by information supplied on the FAFSA form, so students should start the process of finding money to pay for college with completion of the FAFSA. Students can obtain a FAFSA at high school guidance offices, libraries, or by calling the Federal Student Aid Information Center toll-free at 1-800-4-FED-AID (1-800-433-3243; TDD 1-800-730-8913).

Electronic filing is faster and easier. An estimated eight percent of paper applications are returned for errors, adding time to the application process. By filing electronically, students can avoid delays because the software immediately identifies errors and allows for on-the-spot corrections. Students may apply electronically through the Internet at www.fafsa.ed.gov.

Reapplying for aid is simple "whether filing electronically or on paper" for all filers who applied the previous year regardless of whether the student actually received aid. Students simply add a minimal amount of new information on the renewal form and update any information that has changed from the previous year (family size, for example). For renewal filing over the Web, students are given an electronic access code or PIN that serves as the student's signature. Parents will still have to sign if the applicant is a dependent. Check with the school financial aid administrator for questions about the renewal paper or electronic FAFSA or contact the Federal Student Aid Information Center.

PIN numbers are now available and can be requested in advance of filing the electronic FAFSA. Both parents and students can register for a PIN at www.pin.ed.gov, so that they can provide an authorization signature without submitting a separate paper signature sheet. PINs can be used to electronically access student account information and renewal FAFSAs online. The PIN can also be used to electronically "sign" other federal documents, such as Stafford promissory notes.

Other useful tips by the US Department of Education

  • If using the paper FAFSA, applicants should print carefully and clearly using only blue or black ink or pencil as no other color ink is accepted;
  • Have Social Security Numbers ready for students. Have parents' Social Security Numbers ready also if filing on behalf of dependent students;
  • To ensure that the most current financial information is used in calculating aid eligibility, federal tax returns for calendar year 2001 should be completed. If this is not possible, use W-2 forms and carefully estimate tax information;
  • Be aware of deadline dates for applications to schools. Some schools have early filing dates (a list of state deadlines is included in the FAFSA instructions);
  • Some schools require students to complete a separate form for institutional aid, so be sure to check with the school;
  • The forms are processed by computer, so do not attach additional materials and write only in the marked spaces on the application, never in the margins;
  • Applicants (or parents, if the applicant is a dependent) without PINs must sign the application or separate signature sheet if filing electronically.
  • Paige also noted that a number of President Bush's initiatives to help families afford college, such as full student loan interest deductibility and an increase in tax-free contributions to Education Savings Accounts, are now available. "Federal student aid programs can ease the financial burdens that keep some students from pursuing a college degree or training," Paige said. "And, the new No Child Left Behind Act, signed by the President on January 8, offers all students, especially students from minority and disadvantaged backgrounds, the opportunity for the rigorous academic preparation through high school they need to succeed. Together, these efforts will offer all American students the opportunity to achieve prosperity and stability."