Iowahippiechick

I haven’t yet, because I’m still waiting for our accountant to complete our 2008 income tax returns.  Hopefully he is done soon, because the quicker we fill out & file Cody’s FAFSA, the better I’ll feel.  (And then I can finally tick that off my spring to-do list!)

Filling out the Free Application for Federal Student Aid (FAFSA) takes a bit of time, but is usually worth the effort.  “Most people underestimate their eligibility for financial aid,” says Mark Kantrowitz, publisher of FinAid (a financial aid web site.)  And to qualify for almost any financial aid package … federal, state, or scholarships & grants from private schools … the student must have filled out a FAFSA.

Here is a checklist of documents needed to fill it out for 2009/2010 -

• 2008 federal tax return.
• W-2 forms.
• Records of untaxed income, such as Social Security, welfare payments and tax-exempt interest income.
• Bank statements.
• Mortgage statements.
• Brokerage statements.
• Student’s Social Security number and, if available, driver’s license.
• For business owners, the company’s financial statements or corporate tax returns.
• Records of any child support paid to or received by former spouse.
• Records of medical and dental expenses paid in 2008.

You’ve probably rounded up most of these for filing your income tax anyway …

So why not give it a shot and file a FAFSA for the college student in your house?

You just never know -

It might end up saving some money on 2009 fall / 2010 spring tuition this school year.

And wouldn’t that be SWEET!

personal finance

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