It’s time to fill out college aid forms
January 08 2016 - 8:45AM
January marks an important time for college-bound students and
their families: the Free Application for Federal Student Aid, or
FAFSA, is available for next academic year. Navient, the nation’s
largest student loan servicer, recommends families complete it
sooner, not later.
New and returning students must fill out the form to apply for
financial aid, such as Pell grants, federal student loans and
work-study opportunities.
“The right timing is right now,” said Patricia Nash Christel,
vice president, Navient. “Applying early is important because some
states and schools have early deadlines, and others distribute aid
on a first-come, first-served basis. An early start also helps you
develop a realistic plan to pay for college—not just for one school
year, but all the way to graduation.”
New this year is the FSA ID, a username and password that gives
FAFSA filers more secure access to financial aid information and to
electronically sign the form. Navient recommends filers register
for a FSA ID ahead of time.
Students and their parents can also be prepared by collecting
tax returns and other financial information in advance. The FAFSA
requires filers to provide information from their 2015 federal
income tax return. While most people won’t receive their W-2 forms
and other tax documents until the end of the month or later,
families can use their 2014 taxes or another best estimate to get
started. After 2015 taxes have been filed, families can then update
the form.
Later this year, changes to FAFSA rules will shift the
timetable. The form for the 2017-18 academic year can be filed as
early as Oct. 1, 2016, and will rely on income tax information from
the previous tax year. The change will also help students and their
families to understand aid eligibility options earlier in the
college application and decision process.
It’s also important to know the FAFSA is totally free. For more
information and to complete the form online, the official FAFSA
website is fafsa.gov.
Connect with @Navient on Facebook, Twitter and LinkedIn.
About NavientAs the nation's leading loan
management, servicing and asset recovery company, Navient
(Nasdaq:NAVI) helps customers navigate the path to financial
success. Servicing more than $300 billion in student loans, the
company supports the educational and economic achievements of more
than 12 million Americans. A growing number of public and private
sector clients rely on Navient for proven solutions to meet their
financial goals. Learn more at navient.com.
Contact:
Media: Nikki Lavoie, nikki.lavoie@navient.com
Customers: 888-272-5543
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