FAFSA FAQs

According to the College Board, the average price for one year of undergraduate studies can range from $24,610 for an in-state public school, to $49,320 for a private university.

There is some good news, however. Several different sources of financial aid are available for qualifying students, the largest of them being the federal government.

In order to qualify for federal grants, loans, and work-study eligibility, incoming students must complete the FAFSA form. FAFSA, or Free Application for Federal Student Aid, is used to determine a student’s eligibility for financial aid. In addition to federal funding, your FAFSA may also be used to determine financial aid from your state, and even your school.

With that said, you can see why it is important to submit your FAFSA on time every year, and make sure all of your information is correct. The FAFSA form can be tricky for parents and students alike, so we’re here to answer some of your most frequently asked questions.

How do I fill out the FAFSA?

You can submit your FAFSA form at https://fafsa.ed.gov/. You will need a Federal Student Aid ID and password. If you have previously submitted a FAFSA, your ID and password will be the same as last year. If you don’t have one yet, don’t worry. Just follow the instructions in this video.

When is the FAFSA deadline?

The federal deadline for the 2016-2017 school year is: June 30, 2017 by midnight CST.

The federal deadline for the 2017-2018 school year is: June 30, 2018 by midnight CST.

State deadlines may vary from state to state. You can view the deadlines in your state by clicking here.

You may notice that the deadline for this school year is not until the end of June. That’s because the loans you receive can be applied retroactively. However, it is best to submit your form as soon as possible, as aid is often distributed on a first come, first served basis.

Do I need to fill out the FAFSA each year?

Yes. It can be a pain, but your eligibility can change from year to year based on your family’s financial situation and other various factors.

Do I have to pay to submit my FAFSA?

No! After all, the first F stands for “free”. However, since it can be a time-consuming task, some services may charge you to complete your FAFSA for you – much like a tax return.

Even with financial aid, planning for college is tough. Let us help. American Investment Planners, LLC offers financial planning services for families across the country, including those trying to put their children through college.

To schedule an appointment with one of our advisors, please call (516) 932-5130 or email info@americaninvestmentplanners.com.

Ways To Save Money At College

American Investment Planners LLC

500 North Broadway, Suite 260, Jericho, NY 11753

(516) 932-5130 / (866) 932-5130

When it comes to college and money, figuring out how to save for tuition costs is only half the battle - once those are covered, students must find ways to save while they are living the college life. Though they may have a part-time or full-time job while attending school, bills sure do add up fast when you factor in the cost of supplies, transportation and so on and so forth.

Should you have a child preparing for their first day of college, or if you've come across this post because you're getting ready for the college experience yourself, below are a few tips that can be used to save:

Buy used instead of new: Textbooks are known to be one of the biggest expenses for college students. To reduce your textbook costs, always look for used instead of new, and always opt for renting when possible. And if your school's bookstore doesn't carry the reading material you need, don't hesitate to look online or at local stores instead.

Research meal plans first: If you'll be living on campus, chances are you'll be required to purchase a meal plan. However, while choosing the most expensive option may put your mind at ease knowing you have more than enough to cover the cost of breakfast, lunch and dinner, don't forget that you may wind up with leftover funds that you can't use at the end of the school year (not to mention, what if you aren't crazy about the food?). That being said, your best bet is to do some research and find out what types of food your school offers and for how much before selecting a plan.

Carpool and minimize driving time: Planning to commute? Then find a friend to carpool with! Additionally, try and plan your schedule so that you don't find yourself with hour breaks that encourage you to drive home. Even if you live nearby the college you attend, every trip back and forth uses gas (and money) that you could be saving.

To learn other ways that you can save money while at college, check out this article from U.S News and World Report MONEY.

Aside from how to save money during the college years, are you seeking information and guidance on how to save for tuition? To put together a savings plan that will benefit you financially, be sure to give us a call at (516) 932-5130 to start speaking with a member of the American Investment Planners LLC team today!