Filing out financial aid papers can be tedious and boring. There are a lot of general questions that need to be answered and too many numbers that need to be figured out. This is why it is so easy to want to sit back and let you parents do all the work. In the end is mostly their information, so why do you really need to help? I’m here to tell you that even as a high school senior it is important to have some sort of hand in your financial aid. Being apart of your financial aid paper work can help shed a whole new light on the process.
When you go off to college you are going to be a legal adult, or you will be shortly after you arrive. The school is going to recognize you as such, so when it comes to questions about your financial aid they’re going to be looking at you for the answers. This starts before you even move out of the house. If there are some issues with your paperwork or the just have some simple questions they are going to call you. Now they may call before your parents are even home from work. The conversation is going to go much smoother if you know what is on your financial aid form.
There is certain information that you need to know not only for your FASFA, but private scholarships as well. By going through the information when filling out the FASFA your going to have a much easier time filling out those income portions of scholarships.
It’s a learning experience that you should have. By sitting down and doing your financial aid with your parents your going to learn a lot about money and taxes. While yes you learn a little bit about the whole taxes thing in school, you don’t really get to see the full effect of it. Watching your parents fill out the forms is going to help you better under gross income and net income. It’s also going to show you what kind of savings gets factored into your financial aid. Take this all a learning opportunity and as a time to ask questions.
On the form not only do your parents need to fill out their financial information, but you need to as well. Since you are soon to be an adult you should understand how much money you make and how much is being saved. Just like watching you parents doing your own financial aid is going to help you understand the way money works.
There is going to come a time when your going to be responsible for doing your financial aid yourself. Even if your parents are willing to do it this year, next year they might not be so willing. It’s best to make sure you are prepared early. You don’t want to get stuck having no clue what you are doing.
Financial aid is a huge part of going to college. Nobody can deny that college is expensive and going to school without financial aid can be extremely hard. While you may be enjoying you last for moments as teenager it is important to remember that you have a huge part in the financial aspect of your life now. When taking out federal loans they will be in your name. Colleges are going to be calling you when they have questions about your paperwork. To make life a little easier, take the time to sit down with your parents while they fill out financial aid forms.