Kiplingers, one of my favorite personal finance sites & magazine, has a great article up for parents with advice on making sure you can get the free money you might be entitled to for your child’s education. From dealing with the FAFSA (Free Application for Federal Student Aid) application to to when to file your taxes, the article has great tips for making sure you get some of the available funds. A few of the most important include:
Don’t fail to list all household members on the application. This includes step children and even unborn babies – anyone who can be claimed as a dependent.
Be sure to report the tax you had withheld, not the amount you owe. These numbers should be different.
Don’t overstate your wealth. You’re required to list assets as of the date you sign the FAFSA, not the end of the tax year.
So for you parents out there looking to get your fair share of the free federal student aid money, you really should check out this entire article for the other 9 tips. You never know what you may be missing out on when filling out your forms!