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Community Corner

Tips for Filling Out the FAFSA: Priority Deadline for Financial Aid Nears

Tomorrow is the priority deadline for the Free Application for Federal Student Aid.

With tax season upon us, financial pressures are surely looming. However, there is another deadline students and parents must heed among schoolwork and W-2 forms. It’s time to file the Free Application for Federal Student Aid (FAFSA).

March 2 marks the FAFSA priority deadline for 2011-2012 applications. This means that students interested in qualifying for state aid as well as federal aid will want to submit their form by this date.

FAFSA provides financial aid to students who demonstrate eligibility for federal financial assistance. Students can apply online or by forms at their campus’ financial aid office. However, students are strongly encouraged to apply early, said Chris Collins, associate director of financial aid and scholarships at San Diego State University.

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“The best piece of advice is for students to apply as early as they possibly can,” Collins said. “Don’t wait until you’ve filed your taxes, because you want to maximize your eligibility.”

Collins added that every college campus program has a set amount of money to distribute and once it is distributed, it’s gone.

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“The earliest applicants that complete their application all the way through verification are the ones that can best maximize their aid eligibility,” Collins said.

Due to current conditions, financial aid has become more important to students. Under Gov. Jerry Brown’s proposed budget for next year, the California State University and University of California school systems would each receive a $500 million budget cut. In addition, the state community college system would receive a $400 million cut.

The UC system’s undergraduate tuition fee for 2011-12 was $10,302 while the CSU fee was $4,230. Extra fees vary by campuses. Currently, the UC and CSU system have not decided on tuition and fees costs for the 2011-2012 academic year.

In light of expected tuition increases, Ann Klein, director of UC San Diego's financial aid office, said all students should make sure they apply for aid.

“More than half of UCSD undergraduate students receive need-based support and the university remains affordable and accessible,” Klein said. Klein also advised students to list the correct school code when filling out the FAFSA and check over the form when completed.

For students looking to file their application online, here are some things you and your parents should have readily available to make the process quick and easy:

1.       Social security number, drivers license (if you have one).
2.       2010 W-2 tax forms, 2010 federal income tax return.
3.       Your parent’s 2010 federal tax return (if you are a dependent).
4.       2010 untaxed income records, your current bank statements.

In addition, applicants should be prepared to answer questions about:

1.       Demographics.
2.       School selection.
3.       Dependency status.
4.       Parental demographics.
5.       Financial information.

It should take less than one hour to complete the FAFSA form, according to the FAFSA website. The site also cautions that applicants have up to 45 days to finish their form and do not have to complete the form in one session. Financial aid counselors at both UC and CSU schools are available to help students complete their application should they have questions.

Visit fafsa.ed.gov.

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