By Admin 
Introduction
Free Application for Federal Student Aid (FAFSA) offers you the key to financial aid at college. The form is a great source of concern among many students and parents who wonder how much time they would be required to put away. The best thing is that it only takes less than an hour to complete to most people. You can shortcut it and complete even quicker with a little preparation. This guide will step you through the dates, the information you will need to collect, and strategies you can use to make your application as easy and quick as possible, so that you can get back to planning your future.
It is important to know the FAFSA Timeline.
The FAFSA takes the majority of applicants less than an hour. According to the U.S. Department of Education, the average time of completion is ranging between 30 and 60 minutes, but this may differ. The time taken to complete the FAFSA is dependent on your personal situation.
In case you are a student who is dependent and your family financial situation is a simple one you may complete in a short period. Nevertheless, when your family has a complicated financial situation, e.g., by owning a business or several properties, you should anticipate spending a bit longer to find the required information.
Variables Which Affect FAFSA Completion Time.
There are a few important things that can make the process of completing the FAFSA Federal Student Aid Form take you a long time. The most important component is preparation. It will help you save time that could be wasted searching to find information by having all your documents ready before you begin.
It is also important that you know the form. The first time filers might require additional time to interpret the questions. The process is also normally quicker to the returning user, with some of their information already entered into the form, having been done last year.
Key Influencing Factors
Closure: Going through all papers.
Familiarity: It is either your first or you are a repeat filer.
Financial Complexity: plain vs. complicated financial scenarios.
Family Structure: Dependent student vs. independent student.
Documentation required before you begin.
The most important documentation step is to collect your documents. It may save you half your time to decide on everything before you can log in. This eliminates inconveniences and is accurate.
You and or your parents if you are a dependent student will need personal and financial information. It can also be expedited by importing tax information with the help of the IRS Data Retrieval Tool, which will take time to securely import tax data.
Document Checklist.
Your Social Security Number (and your parents, in case dependent).
The number of your driver license, in case you have one.
Federal income tax returns, the W-2s, and other documentation of money earned.
Bank records and investment statements.
Records of untaxed income.
Electronic signature FSA ID.
A Stepwise Guide on how to fill the FAFSA.
The FAFSA form is separated into a few sections. You will begin with student demographics that will contain simple personal information. The second step will be to enlist the schools to which you wish to get FAFSA information. There is an option of adding 10 schools at once.
Your dependency status and parent demographics (where relevant), are covered in the following sections. The last sections deal with financial data of the student and the parents. You should move step by step through every portion to prevent failure that might slow down the processing.
How long does it take to complete a FAFSA during the First time?
An approximation of an hour would be needed to fill out FAFSA in first-time applicants. This gives the opportunity to read instructions slowly and comprehend each question. It also takes a few minutes to create your FSA ID, which will be required to sign the form.
Do not hurry when it comes to your first application. It is important to crossread your entries. Minor mistakes such as misspelling a name or wrong Social Security number will lead to extensive delays when you are supposed to get your financial package.
FAFSA tips in a fast application.
A few things can be done to help you fill in your FAFSA faster and with less hassle. The one best thing that you can do is to get all necessary documents prepared in advance. Prepare a folder that holds all you need even before you step on the site.
Also, at the prompt, use the IRS Data Retrieval Tool (DRT). The tool is a secure way of transferring your tax information to the FAFSA form. It does not only save time, but also eliminates the possibility of committing an error when typing financial information.
Some of the basic errors which delay the process.
The processing of FAFSA may take a lot of time due to some of these mistakes. Mistyping of wrong Social Security Numbers or names is one of the most prevalent. Ensure that the details that you give are identical to those on your official government documents.
The other common problem is the tendency to submit a filing at the last minute. Filing your FAFSA early so that you have time to make corrections and to also have just enough time to apply to state and other institutional aid which has priority due dates. Failure to meet such deadlines might imply a loss of such valuable funding.
Once you submit: what happens next?
After you have entered your FAFSA, you will get a confirmation page. You will receive an email Student Aid Report (SAR) shortly thereafter. The SAR will summarize the information you have given and will show your Expected Family Contribution (EFC) or Student Aid Index (SAI).
Check your SAR to ensure that there are no mistakes. In case of an error, you may re-enter your FAFSA account and correct. Your information will be received electronically by the schools you listed and then used to make your financial aid award package.
Conclusion
The FAFSA is a relatively simple form to complete and it ordinarily takes less than 1 hour. Preparation is the key to a successful and quick application. You can save time on the unnecessary delays by collecting your financial records, establishing your FSA ID in advance, and utilizing such tools as IRS DRT. Always remember to submit before the due dates to have time to meet deadlines that are critical and take time to make corrections where necessary. Such minimal investment of time today can create the gateway to thousands of dollars of financial support in your university education.
You are now prepared to move to the next stage because you know how it works. In case you liked this guide, take a look at other articles on our site on tackling college admissions and financial aid. A comment below with questions is welcome!
Frequently Asked Questions
am I able to do the FAFSA in a sitting?
Yes, majority of individuals can fill FAFSA within a single session, and it will normally take less than one hour. It is also possible to save what you have done and come back anytime.
What happens in case I realize that I have to make corrections?
You may reenter the FAFSA site with your FSA ID in order to correct. Your new knowledge will be forwarded to your chosen schools.
Is I required to complete the FAFSA annually?
Yes, you need to submit a new FAFSA application every academic year you have to be eligible in case of federal student aid.
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