Seniors applying to college must complete and submit their FAFSA (Free Application for Federal Student Aid) as soon as possible after January 1. But while you can't fill out the form yet (the 2013/14 FAFSA won’t be available until January 1, 2013 at which point you fill it out here), you can get a head start by pulling together the documents you'll need, including:
- The student's driver's license and social security card
- Current bank statements and mortgage information
- Investment records (stocks, bonds, mutual funds, etc.).
- Documentation of any non-taxable income (like Social Security)
- If you own a business, you’ll need your records to substantiate the income.
- If you’ve had any unforeseen or unusual family expenses, get whatever records you can to substantiate them. For example, maybe you had to pay for an emergency medical procedure that wasn’t covered by insurance? Do you pay tuition for younger kids attending private elementary or secondary schools? Do you care for an older parent or pay significant costs for any other dependent? Those are valid costs that need to be taken into account when calculating your ability to pay for college.