In 2012, make sure you fill out your FAFSA

Happy New Year 2012!

Here’s a resolution for college-bound students and their parents that may be worth more than $10,000 in free money for college in the form of federal Pell and state Monetary Award Program (MAP) grants ... complete the FAFSA!

The FAFSA — or Free Application for Federal Student Aid — is the important first step in the college financial aid process. The FAFSA determines eligibility for need-based grants, scholarships, loans and work-study programs administered by federal, state and higher education institutions. The U.S. Department of Education begins accepting FAFSAs on Jan. 1, 2012, for the 2012-13 school year, and awards are made on a first-come, first-served basis. Last year, close to 800,000 Illinois students filed a FAFSA, but these limited resources only go so far. It’s best to apply as close to Jan. 1 as possible, and you should never assume that you will not qualify for financial assistance.  

The new, streamlined FAFSA takes about an hour to complete and requires much of the same information required in a tax return. The FAFSA is available online (www.fafsa. gov) or in paper form, and in Spanish.

Should you have any questions, contact your university financial aid office.  The Northern Illinois University Financial Aid Office website (www.niu.edu/fa) has great resources available for prospective students to help offset the cost of education. In fact, during the 2010-2011 academic year, over 21,000 students received a total of $210,945,144 in financial aid and 7,642 NIU undergraduates received federal Pell grants totaling $30,352,023. 

So make a resolution that’s easy to keep and will mean a world of difference in college affordability: Complete your FAFSA!