As you begin to prepare for college, the financial aid process really begins after the application and admissions process is complete. Most colleges will not even consider a financial aid offer without a student and family completing basic financial aid forms.

One of the most important forms that all colleges request is the FAFSA or Free Application for Federal Student Aid. This is also one of the most feared ways by most students, parents, and families in general. There are many books, articles, and websites that are dedicated to the sole purpose of helping you complete the FAFSA. There are also many local businesses that will charge a fee of $ 250 to $ 750 to help you fill out these forms and submit them to selected colleges.

But if you’re reasonably smart (as I think you are) and patient enough to read the instructions, these forms are not only manageable, they can be completed in a couple of hours. First, gather all of your information as described on the FAFSA website, then sit down at your computer and get started.

Mistakes to avoid:

First, be sure to submit the form. Some families feel they won’t qualify, so they don’t even submit the form. Many colleges won’t even consider you for private aid if you don’t file the FAFSA.

Then, especially for your student’s first year, apply early. File your taxes early or use the return from previous years. Financial aid for freshmen is based largely on information from the FAFSA. Many colleges are on a first come, first served basis when awarding financial aid, private donations, and scholarships. So getting your first year early can save you money.

Never let your child complete the FAFSA form himself. Most of the information is foreign to them, so they will ask a lot of questions, guess or ignore the information. You want the college to have up-to-date and accurate information to use to calculate your financial award.

Never leave an answer blank. If the answer is zero, use a 0, if not applicable, write n / a. Always put an answer to each question on the form so there is no reason for your request to be delayed, marked or returned as incomplete.

And the last mistake many families make is forgetting to sign their FAFSA. Either with pencil and paper or electronically for both the student and the parents. If you do not sign the form, it will be returned to you as incomplete.

There are many other tips for reducing your adjusted gross income, reducing the assets listed on the FAFSA along with your Expected Family Contribution (EFC), and making sure you don’t include assets that you don’t legally need to disclose on the form.