Filing the FAFSA is a critical first step in the financial aid process, but not the last. Understanding what happens next, and when, will make navigating the rest of the process easier!
There is no standard format for award letters, making it difficult to compare packages from different schools. Use FAME’s Comparing Financial Aid Awards Worksheet to help you compare different packages. (Please note: not all browsers/versions support PDF forms. For best results, download the worksheet and open with Adobe Reader, available as a free download from Adobe.com.) Want to print the worksheet? Download and print this file.
All students need to have an FSA ID (which can be created at fsaid.ed.gov) to access FAFSA on the Web. Keep track of the information entered when creating the FSA ID by using this information tracking sheet.
Checklist of what you need to file the 2018-2019 FAFSA, what assets you may need to report on the FAFSA, and how to determine when parent information is required on the FAFSA.
This checklist is designed to help students be ready to go on the first day of school.
Wondering how much you need to earn to pay your student loan debt? FAME’s interactive calculator can help you figure out how much you should borrow based on expected future earnings.
Ever wonder how the federal EFC is calculated? Each year, the U.S. Department of Education makes the formula available. The EFC Formula Guide provides information on the various formulas as well as the associated worksheets and tables. If you are looking for the Parents’ Education Savings and Asset Protection Allowance table, see page 19.
Net Price Calculator is an online tool offered by colleges that calculates your estimated annual cost to attend each college. Net Price Calculator can be found on each school’s website. Sometimes it is also called a cost calculator or financial aid estimator.
Use this online calculator to create a monthly budget.
Calculate how much your account will be worth in the future, and the interest earned.
Use Federal Student Aid’s Repayment Estimator to learn which plans you may be eligible for and estimate how much your monthly payment would be for various federal student loans.
Estimate your repayment period, interest rate and repayment schedule if you consolidate your federal student loans.