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Estimate your financial aid using FAFSA4caster and be sure to save for college.

Taking out a student loan is not necessarily a bad thing. It’s like a double-edged sword. If you don’t use it carefully, it will hurt you. Read about the pros and cons of federal student loans here.  

Read IRS Publication 970, Tax Benefits for Education to see how you might benefit from federal income tax credits for education expenses.

Contact a school’s financial aid office if you have questions about the aid that school has offered you. In fact, getting to know your financial aid staff early is a good idea no matter what—they can tell you about deadlines, other aid for which you might wish to apply, and important paperwork you might need to submit.

Review your college acceptances and compare the colleges’ net price.

Complete any last scholarship applications.

As soon as possible after Jan. 1, complete and submit your Free Application for Federal Student Aid (FAFSA®), along with any other financial aid applications your school(s) of choice may require. You can complete the FAFSA online or on paper, but completing the application online is faster and easier. You should submit your FAFSA by the earliest financial aid deadline … Read More

Parents are encouraged to complete their income tax forms early. If your parents have not completed tax forms, you can provide estimated information on your federal student aid application, but remember to make any necessary changes later.

Ask your counselor and teachers to submit required documents (e.g., transcript, letters of recommendation) to the colleges to which you’re applying.

Apply to the colleges you have chosen. Prepare your applications carefully. Follow the instructions, and PAY CLOSE ATTENTION TO DEADLINES!