The Renewal FAFSA System
If you are like many college students today, you may not have received all the financial aid you were entitled to receive in prior years. To add insult to injury you’re most likely doomed to once again lose out on financial aid that you where eligible for.
Understanding Renewal FAFSA
Failure to understand the renewal FAFSA and how the system works can cause you to lose thousands and thousands of dollars in financial aid. There is so much confusion misunderstanding and misinformation surrounding the renewal fafsa and financial aid process that some families don’t even complete the renewal fafsa form or apply for financial aid. Many families incorrectly assume if they own a home or have a six-figure income they won’t qualify for financial aid.
If you’re a parent of a student in college you need to be concerned about Renewal FAFSA and…
Bait & Switch- Although most colleges do not practice this technique, colleges will often offer the student a very favorable award package the first year (to entice them to enroll), then in the second year drop the award by thousands of dollars. They do this knowing that the student will be transferring thereby accepting the offer.
Two or more students in college- Your financial aid package will change dramatically when you have two or more students in college. You need to know how much you qualify for or you are simply putting your faith in the college to do the right thing, and trust that they have made you the best offer with your Renewal FAFSA.
Everyone including you is eligible to receive some financial aid. However if you fail to complete the FAFSA correctly the first time you’ll lose your financial aid and you’ll jeopardize receiving free college scholarships. If you do complete your renewal FAFSA but make mistakes the consequences can literally be devastating to your financial aid package.
Strategies To Maximize Your College Financial Aid.
Your family might significantly reduce your cost of college by taking advantage strategies available to help make paying for college more easily affordable. Even if you take advantage of only a few of the college aid strategies to reduce your cost of attendance you could potentially save thousands of dollars each year.
The reason why families like yours can lose free college scholarships each year is simple. You are not college financial aid advisors. The financial aid process is not simple or easy unless you don’t care about receiving all the financial aid you’re entitled to. If you don’t care you can muddle your way through the financial aid process and take advise from friends, neighbors relatives and hope it all works our for your. But as the statistics prove the odds are against you.
It’s virtually impossible for a your family to learn all the rules and regulation you need to know about when applying for college financial aid. Even if you had the desire to learn the process it takes years to become an expert.
Next you need to learn about the tax code and financial planning strategies, which will take you a few more years. You also need to love paperwork and you must have a keen attention to detail. Your organizational skills along with your patience will be tested through the renewal FAFSA process.
If you decide to tackle the financial aid jungle on your own, be sure to sign up for our FASS Times newsletter. You’ll learn some of the amazing secrets that Financial Aid Insiders use to help both parents and students maximize their financial aid and renewal FAFSA. You’ll also receive our acclaimed E-course and definitive industry white paper”The Insider’s Financial Aid Survival Brief“.
If you have more then one child in college, you should take advantage of the Financial Aid FastTrack family plan and make sure your children get every penny of college financial aid that they are entitled to!
Tags: financial aid advice