How to Fill Out the FAFSA to Get Federal Student Loans

FAFSA (the Free Application for Federal Student Aid) is a required entry way to billions in federal student aid.
Though you may be overwhelmed by the amount of information required, you should fill one out regardless of your financial situation.
Basic preparation and knowing what to expect can ease your way and even help you win a larger award.
FAFSA Basics Is the FAFSA something you know you need to do but have procrastinated getting started? A few key facts should motivate you to learn more and get started:

• Submitting your application as early as possible really can make a difference in the amount of your award.
  In this case time really is money, so make a commitment to get prepared and get it done now.
  
• There are 130 questions on the application and many of them are financial.
  The good news? They are not a mystery.
  Knowing what is required will make it easier for you to prepare and complete this form.
  
• Some simple errors can cause your application to be returned, thereby delaying processing and possibly affecting how much money you might receive in Student Aid.
  Forewarned is forearmed -- take the simple steps outlined below to learn more and avoid costly mistakes.
  

Be Prepared Many FAFSA questions will be easy to answer: name, address, Social Security Number, family information.
Special guidelines do apply in the case of divorce and remarried parents, so don't assume you know the answers to all of the background questions which will come up.
Understand the questions and gather necessary data before you begin.
The most important thing you can have at hand when you sit down to complete your FAFSA is your tax returns from the appropriate year.
You will most likely also need your parents' returns and, if you live with a stepparent, theirs as well.
The financial information required on this application is extensive and you will bog down quickly if you need to chase after each piece of information as you go.
Having the IRS forms can make everything go quite smoothly.
The application even provides specific 1040 line numbers that apply to the information required so you will know exactly where to go to find it on the tax returns.
Next, prepare a list of the schools you are applying to and which should receive your information.
Be prepared to provide the code for each school along with your housing plans.
Online or On Paper? While you may fill out a hard copy there are important advantages to completing the form online.
There are also some tips to be aware of to ensure that your application does not get returned, delaying your processing.
Give yourself sufficient time, learn all you can before you start, and you'll be good to go!