FAFSA deadlines for college applications approaching

Posted 2/16/18

Many of Rhode Island's institutions for higher education, including the University of Rhode Island, Bryant University and Salve Regina University, have a priority deadline of March 1 for students or parents to submit the Free Application for Federal

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FAFSA deadlines for college applications approaching

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Many of Rhode Island's institutions for higher education, including the University of Rhode Island, Bryant University and Salve Regina University, have a priority deadline of March 1 for students or parents to submit the Free Application for Federal Student Aid (FAFSA) form, required by colleges and universities to determine financial aid and scholarship eligibility. It is important to note that colleges' priority deadline dates for FAFSA vary.

Several organizations help in completing and filing FAFSA forms including the Rhode Island Student Loan Authority (RISLA) and private firms. AAA Northeast has a free service, available to AAA members.

Donald Kerr, Senior Manager of Student Lending at AAA Northeast, reminds students and parents that many institutions require the results of the FAFSA application known as the EFC (expected family contribution) to determine scholarship eligibility.

"Colleges want to know what scholarships students have been awarded which may impact the amount of aid they offer," Kerr explains, "It is helpful to have a professional assist in the application process to avoid common mistakes, ensure that information is reported accurately and understand next steps in the college financing process."

AAA offers these tips to help parents understand that managing the cost of college doesn't have to be a daunting task:

  • The FAFSA ID is your golden ticket to financial aid. This unique identification allows an individual to electronically sign all required documents to receive federal financial aid. It's important to note that the student and at least one parent each need their own ID's.
  • Financial aid can be used cover all expenses under the total cost of education including room and board, off campus housing, transportation and other expenses the school considers to be part of the cost of education.
  • For a family who has a student attending college for the 2018-19 academic year they will need 2016 federal tax returns and W-2 statements Along with current information on savings, checking accounts and non-retirement assets.

AAA's meetings with members often result in misconceptions being cleared.

"I once met with a family who wasn't going to complete the FAFSA form because they weren't sure they could provide all the required financial information due to a divorce," Kerr said. "I was able to inform them that only the custodial parent needs to complete the FAFSA and provide financial information. This eased their concern about completing the FAFSA which they then did, and the student was given a generous financial aid package from the school."

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