You can apply for financial aid between January and mid-March of the senior year. You will do this using the FAFSA (Free Application for Federal Student Aid). This form can be accessed through www.cfnc.org or directly at www.fafsa.ed.gov. You will need your income and tax information ready from the previous calendar year, so plan to do your taxes early! Remember that you will need to fill this form out every year that your student is in college.

The FAFSA is the general application for countless state and federal programs, including work-study grants. If you do not fill this form out, you could be missing out on free money. Equity in your home and money in retirement accounts will not count against you on the FAFSA. The FAFSA information will be used to calculate your EFC (estimated family contribution), or the amount the government thinks you can afford to pay each year for college. This amount includes any money in college savings accounts. That EFC will then be sent to the Financial Aid Offices at your colleges, and they will use it to prepare your SAR (student aid report). This will be mailed to you by April 1 of the senior year (or earlier). This report will include loans, grants, and work-study options. You may check the items you want to accept, or you may accept the whole package.

Some private colleges also require that you fill out the PROFILE form, which is available at www.collegeboard.com. This is a much longer, more detailed form, so set aside some time!

You do not need to commit to any college until May 1, so you will have all the financial aid offers in time to make the best decision. Please contact Mrs. Turner if you have any questions regarding this process.