FAFSA, applying for college student financial aid tips!

Currently having one daughter in college,, NCSU, and another one heading to college,,Appalachian State, I have filled out the FAFSA, Financial Student Aid form way too many times. And, it looks like that trend will continue for another 4 yrs or so.

So i have figured out the hard way some tip and tricks to the FAFSA form. Check out this blog post to find out the details.

1.) Fill that sucker, FAFSA, out early. I start in mid January. We try to get income taxes filled out and filed ONLINE by late feb to first part of march. (you can estimate income or use AGI from last year)

2.) Coming up this year, 2017, the FAFSA will be available earlier, You can start the process of the application in Oct for the next year. That is great.

3.) If your kid (s) works and get a W2 be sure to do their taxes ONLINE and if any money is owed PAY it with credit card. We got tripped up on that carp this year as FAFSA uses the “IRS retrieval tool”  to verify your income tax number are correct.

4.) If you do a paper 1040 form you will NOT be able to use IRS retrieval tool till at least june at best and that is not good for financial aid, why….

5.) If you live in NC especially, and your income is below 75K AGI you may  qualify for NC Education lottery money.  Now this is a pot of money, so to speak ,and they reach in and grab a handful and start putting it on your plate, and the next guy/gal get some, and the next  and so on and so forth. This continues until the pot is empty and then they stop. (this is a very simply way to look at this wonderful benefit from NC, but you get the jist. )

6.) There are other grants, scholarships, assistance funds  and then you get into the loans. Loans come in several flavors. Federal subsidized,  unsubsidized loans, the ole Perkins Loan and a parent loan..Yes now you the parents can go in debt, dumb idea, for your kids school cost.

7.) The subsidized loans means you are not charged interest on the money till 6 months after you graduate, but that time flies by quick.

8.) The unsubsidized loans create interest from the first month of usage. My daughter had a nice summer intern job and was able to pay off almost $1200 in unsubsidized loans her jr summer.

9.) The Perkins loan does have some neat features like loan forgiveness for wide range of options. check out Wikipedia and search “Perkins Loan” to see more.

10.) You can get a bunch of money from loans and all the rest but remember you have to PAY it back at some point.  Its not real smart to go to college for 4 yrs, get a degree in Art or some other low pay area, take all the money that is available and have a $300 dollar a month payment just to pay back loans.

11.) Work part time and go to school. Try to be debt FREE at graduation or have less and 13K in loans. Your life will be much more stress free for sure.


So there you have it some tips for FAFSA form from the US Government.  Now go have a beer and prepare for battle..:)


(this is not to be considered an authoritative guide to FAFSA, just my comments and some thing I have learned. Use at your own risk. )  peace out….


This entry was posted in Uncategorized and tagged , . Bookmark the permalink. Both comments and trackbacks are currently closed.
  • Carl’s Corner

    Carl Newton: WolfPack Fan,
    Carolina Hurricanes Fan,
    Carolina Panthers Fan

    Well a new year is upon us and during this time in late Jan the temps are running above normal. This will end I hear the middle of Feb with temps coming back to normal and COLD..

    We still get a lot of folks calling to ask for a second opinion where another local company was call and they found a LOT of stuff wrong with your 20 plus year old chimney most of the time with a quote of 4-5K or more.

    A lot of the things they "recommend" are to bring your chimney up to 2018/2019 code standards which is not necessary unless you are doing major repairs on the chimney or it is being torn down and rebuilt.

    Chimneys built in the 60 and 70's had different code requirement than a chimney built in 2018/2019.


    PS, If you have gotten a quote for chimney repairs, ie.. you need a chimney liner -liner work, parging smoke chamber etc. or you have been told "you might burn your house down" or "this could create a problem" stuff, that seem HIGH give us a call and let see what we can do for you.

  • Woodburning and gas burning fireplaces. Are they ready for winter.

    Is your Fireplace or Gas Logs ready to go.. If not or for a service give us a call.

    In a power outage a fireplace or gas logs may be your only form of heat so make sure they are working in top form. Give us a call to set up appt 919-772-8110

    have a good week

    PS: if you do NOT have a Carbon Monoxide detector and you have gas logs.. GET ONE.. NOW... I recommend the combo CO / Smoke battery powered detectors at Lowe's Home depot or most hardware stores..

    If yours are over 10 yrs old replace it.. (there's a date on back) If there is not a date of manf on back GET rid of it.

  • Interesting Info/Links

    • Want to find out more about vacation rentals? Timeshare Resorts.
    • Own Timeshare and exchange with RCI? You need to read this info. IT'S IMPORTANT TO LEARN MORE. Tug2.net



    if you need a good photo resizer that works with batchs of images give this a try. Fotosizer - Freeware Batch Image and Photo resizing made easy