College financial aid information for students and parents
January 31, 2006
Linda Barbosa

It is time for seniors to complete the financial aid process in order to receive money to go to college! Applications (FAFSA) are due on March 1, in order to be considered for Maryland State aid.  It is most efficient if you and your student fill out everything online.

Financial aid is money given by the US Government and the State of Maryland to attend college.  There are three types of student aid:

Grants:  money that doesn’t need to be repaid

Work-Study: allows you to earn money for college by working on-campus

Loans: borrowed money that you will need to pay back, at very low interest        

            rates, after you graduate from college and begin your career.

1. Apply for your PIN, which is a four-digit number, which allows you to electronically sign your online application. Go to www.pin.ed.gov, click on apply for PIN, and it takes 2 minutes to fill out.

1. Gather documents needed to apply, including your 2005 tax return, W-2 forms, and.

1. Once you receive your PIN, complete the worksheet and fill out the Free Application for Federal Student Aid or the FAFSA. Go to www.fafsa.ed.gov to begin the process.  If you haven’t completed your tax forms yet, you can estimate your answers.  You can go back and correct your information later.  Don’t forget to apply before March 1!!!! Money is on a first come, first serve basis! **DO NOT GO TO www.fafsa.com!!!! You will have to pay!

1. The Government will then send you a SAR or a Student Aid Report.  If necessary, make changes or corrections on it and resubmit your SAR for processing.

1. Make sure the financial aid offices at the schools you have been accepted to and are interested in going to have all the information to determine your eligibility. 

1. Review award packages from your colleges and compare amounts and types of aid. 

Please make sure that you have first applied to your colleges. No money will be awarded if you have not been accepted first to college!

Your student should already have applied for their PIN with Ms. Barbosa. On February 6 & 7, your student will fill out the FAFSA worksheet and FAFSA online with Ms. Barbosa. Please speed up this process by completing your tax returns as soon as possible. Your student will also be coming home with lots of financial aid booklets to read over to learn more about this process.  And as always, feel free to call Ms. Barbosa at 410-539-5794 x25 or email her at lbarbosa@sfacademy.org if you need assistance in the process.