Much of the anxiety infused into college admissions stems from the fear of making that one mistake that makes all the difference. Families worry that missing one detail, instruction, or advantage will erase all those years of hard work. Good college counselors spend much of their time talking families down from these fears.
But one college preparation version of a catastrophe is failing to file your financial aid forms on time. And this year, that means doing so as soon as possible after October 1, 2016—a full three months earlier than it used to be.
The worst regret I’ve ever heard a family express about submitting the FAFSA is that they spent time filing the form and ultimately got no aid. I understand that’s frustrating.
But I’ve also heard from families who deeply regretted not taking that step, who didn’t get the aid they needed for college, who weren’t eligible for merit scholarships because their chosen colleges required a FAFSA for consideration, or who saw their financial situation change after the filing period and had no recourse to be considered for aid.
You can avoid these, and so many other financial regrets, by simply filing the FAFSA. The form won’t be live until October 1, but you can set up your Federal Student Aid ID account now at www.fafsa.gov.
There are also about 400 colleges who require the CSS Profile form to be eligible for aid, and that form also goes live on October 1. But the Profile is submitted in addition to—not in replacement of—the FAFSA. Visit the financial aid websites of the colleges your student is applying to for the full list of requirements. But the FAFSA is the starting point for all student aid.
I write here often about focusing on the elements of this process that you can control. You can’t control whether or not you get the financial aid you want. But you can absolutely control whether you file the necessary forms to access it. You can’t insulate yourself from financial aid disappointment. But you can take steps to eliminate financial aid regret.