College application due dates are quickly approaching, and many may have already passed. Now that this part is complete, many high school seniors and their parents are starting to look into financial aid, and they may have many questions – first being, how much will they get? According to the Pocono Record, before getting money back, students and parents need to know what they have to do.
First, students have to fill out the Free Application for Federal Student Aid (FAFSA). This form will ask for tax returns of the parent and child from the previous year, along with a few other questions. The form will then compute the Expected Family Contribution (EFC), providing a Student Aid Report, which is given to the desired college or university, the media outlet reports.
There are a number of resources that parents and students can take advantage of to learn more about financial aid. According to the Record Herald, Washington High School in Ohio, is hosting an event to teach families everything they need to know about financial aid.