Financial Aid - Changes to the FAFSA and tips on filling it out
The first thing that has changed on the FAFSA website is that the renewal form is missing. In the drop down box on the website you will see that there are previous years Renewal FAFSA forms but there was no renewal form for the year 2008-2009. Still relatively new for this year the 529 plan, whether it's the prepaid tuition plan or whether it's the college saving plan, is treated as the asset of the owner of the account which is typically the parent. So if you happen to have a 529 saving plan set up, instead of being counted against the student it's counted as parents' asset which means that its impact on the financial aid eligibility is much lower this year.
When you're filing your FAFSA on the FAFSA website, you will find that the interface is not terrific and it is very easy to get lost. So there is couple of things to keep in mind. First is to not hit the 'Back' button or you'll get a bunch of errors, and second is to keep an eye out for the 'Save' button at the bottom. Press the 'Save' button from time to time and save your FAFSA results so you're sure not to lose anything in the process.
Contrary to popular belief, the FAFSA is still accepted on paper. So if you're an individual who prefers to filing the FAFSA on paper it is still available, however, may not be encouraged. The Department of Education does not provide paper FAFSA anymore, so you must now go to their website and print out your own and mail it. Also, you should have your school code figured out in advance. When you file the FAFSA online using the official government website, they have a search function to find out what school you're going to.
A lot more people this year seem to be talking about FAFSA services that have been asking them to pay for money. You do not need to pay for the FAFSA at any point for any reason. If you come to a website that is asking you to pay for FAFSA you don't need to, though they may be helpful in gaining more information about other types of financial aid or