The "F" word

How's that for an attention grabbing title! But the F word of the day is FAFSA.
The Free Application for Federal Student Aid is a rite of passage for seniors and their families. If you want need based aid, you will have to go through filing your FAFSA. So what is the process?
First, you have to get a PIN that will allow you and your parent to electronically "sign" your FAFSA application. You will both need to get one, as both will need to sign. Go to www.pin.ed.gov and fill out the application; your PIN will be sent to you. As with any PIN, you want to keep it safe; you fill out a lot of financial information on the form and you will not want anyone else to access that information.
You can also begin to prepare beforehand by downloading a FAFSA worksheet at http://studentaid.ed.gov/PORTALSWebApp/students/english/fafsaworksheet.jsp. Although the FAFSA can't be filed until after the first of the year, you can often organize a lot of the information beforehand, especially if your income is pretty regular from year to year. Having the worksheet filled out before starting on the actual online application can save a lot of time.
Although you don't have to fill out the FAFSA early, it is good to get it finished before mid-February, as some state aid and college based aid is determined before the due date indicated on the FAFSA. Wor Wic usually sponsors a FAFSA help day in February, where they will put you in front of a computer and help you navigate the form. I will email senior families when I know the dates.
Once you finally finish the FAFSA and submit it, you will eventually receive the EFC--the expected family contribution. This number is what the government thinks you can afford to pay for college, and it may make you faint, so make sure you're sitting down when you read it! But keep in mind that, while this determines federal and some state aid, there are other sources of funds out there: scholarships, special grants for specific types of people, and other assorted money available for college., such as in-house college scholarships.
Financing a college education in today's economic climate is tricky, but there is money out there to help you; you just need to go after it.