2012 FAFSA priority deadlines vital

2012 FAFSA priority deadlines vital

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College students cringe at the thought of deadlines. However, this upcoming deadline doesn’t just affect AMK, it affects the entire nation.
On March 31 college students across America must submit their FAFSA to be considered for priority deadline.
“Priority deadline guarantees a student for all funding available based on eligibility and guarantees that all funding will be available and paid for the payment deadline for upcoming fall,” said Financial Aid Director Ralph Perri. “Fifth-five percent of our current undergrad students receive a Pell grant and, if they have high eligibility for financial aid,  they could be losing out on anywhere between $2-4,000  of extra grant funding by not meeting the deadline.”
FAFSA is an open application  which students can apply for daily starting Jan. 2. Once the form is filled out,  parents and students can know how much financial aid the student qualifies for based on parent and student income and assets, number of household members, and number in college. AMK will calculate your need based on the following formula: cost of attendance – EFC = financial need.
“It’s a needs analysis form so it needs to see the total family picture to determine that Expected Family Contribution (EFC),” Perri said.
“ EFC is a real number in determining need,” Perri said,  “to what the government says based on your income information supplied on your FAFSA. This is what we think you can contribute to your educational expense.”
During this process, it’s sometimes common to make mistakes and that can cost you some of your monies, he said.
Making sure a students report the correct number of people living in a household, parent and student income and assets , as well as responding to emails can save  headaches in the long run, Perri said.
“ I get your FAFSA here in March, but if you’re selected for verification, that means the federal government  is requiring you to submit your tax information to me to verify that it is correct,” Perri said.  “If I send you an email, you need to go out to Blue and Gold to see what you need. If you don’t do that and wait until August to do it, even if I got your FAFSA here in March, you won’t go through the priority and the funding will be gone.”
Don’t be left out of the Financial Aid Race.  Follow guidelines.
For more information by phone you can call the Federal Student Aid Information Center at 1-800-433-3243, or you can call the AMK financial aid office at (316) 593-3026.
Students can also contact Perri or his department for more information.