The new school year is an exciting time for both parents and the kids. It is a time when parents will get back to the routine and the kids will be thinking of making new friends and also take their favorite sports lessons. It is a bit more different than the usual for parents whose kids are now entering the senior year in the high school. The cost of the college is too much for many parents so they start thinking how to fix my credit and hence they need to know the financial aid options that are available to them.

Most of the colleges will ask you to fill out the FASFA or the Free Application for Federal Student Aid form. This is an application form that will be used to what financial aid package is suited for your child. The following are the simple and trusted steps you can follow to initiate the financial aid option in the college application process.

• Exploring and comparing the college costs

The colleges that take part in the federal student aid program will be offering the details about the cost of attendance on its website. There will also be a net price calculator on the website that will give you an idea of what the cost of the program would be after detecting the financial aid. The net price to attend a college program will be determined by subtracting the average amount of scholarship aid you receive (federal, institutional grant, local government, or scholarship aid) from the total cost of the largest program of the college.

• Get access to FSA ID

The parent and child looking to attend the college must have an FSA ID. This is a username and password that you can use to login to the FAFSA online website. Both of you should have their own IDs. If you are opening a new FSAID then you will be able to immediately use the created ID to sign in and submit the FAFSA online. If you have already filled up the FAFSA form, then you will have to wait for 2 to 3 days to make use of the new FSA ID. It will be done through a verification process.

• Filling the FAFSA form online

After the FSA ID is created, you need to visit the fasfa.gov website. This is where you will find the FAFSA form. The following are some tips to fill the form correctly.

• Filling out the FAFSA form will be easier for a parent if you ask your child to first login and use his or her FSA ID as most information asked for will be revolving around your child.
• The list of the schools/colleges that the child is interested in will be asked in the form. Make sure that the maybe list is also filled up so that schools get access to your child’s completed FAFSA form.
• As there is limited financial aid that a school has, it is important to fill the FAFSA application form quickly. It can be submitted before the child finishes his or her admission application to the school.

• Go through SAR of the child

After the FAFSA form is submitted, you and your child will receive the Student Aid Report (SAR) through email. Make sure to go through the SAR report and see if all the details are furnished correctly. There will be an Estimated Family Contribution (EFC) number on the SAR that is used to find out the amount of financial aid that the child can receive based on the information shared on the FAFSA application form. If you want to make any changes to the SAR about the financial situation of your family, then you can very well get in touch with the financial aid office of the col

• Look out for scholarships

It is very important to spend some time with your child to research on the scholarships that are on offer. As most of the scholarships would have a deadline, you should make sure that you submit the FAFSA as quickly as possible.