Author: Charlotte Lau

Receiving your financial aid award letter can be an exciting time when you’re prepping for college. You can see how much financial aid you’re eligible to receive per college you’re accepted to. But it can also be confusing – what do the numbers mean? What is the financial aid award letter, and do you need to act on it? Which college has offered you a better “deal?” We’re breaking all of this down for you.

Increasingly, the “9-to-5” doesn’t represent the landscape of American jobs. Over 10% of the American working population is self-employed, and 16% report working on some sort of freelance or online gig job. But these “unusual” job setups can make it complicated to fill out the FAFSA®. So we’re here to break down how to report parent (or student) finances if you’re self-employed or own a small business.

Our team knows the FAFSA®–and the common mistakes made on it. Over the last 3 years, we’ve helped thousands of students fill out the form (using our FAFSA® Made Easier), and walked countless confused parents through how to correctly report their complicated home/financial situation. Here are the top 14 most common FAFSA® mistakes we’ve seen, in rough order of most common to least common.

If you see any kind of federal student loan (Direct, Stafford, or PLUS) listed in your college’s financial aid award package/letter, then you might be wondering: What are they? How do they work? We break it all down for you here.

The average college graduate comes away with a degree – and $29,000 of student loan debt, requiring an average monthly loan payment of $393. That ends up being a really high percentage of new graduates’ salaries. The problem is: once you’re behind, it can be even easier to get more behind. We’re here to help you figure out how to not let that happen to you. How do student loans work? How do you know how much you can afford to borrow? How do you choose the right (cheapest, most flexible) loan? And how do you best manage the costs?  We’ll get into all that, and more!

About one-third of college-bound high school seniors don’t fill out the FAFSA® – and therefore miss out on an average of $14,000 per year in financial aid. Even more students don’t fill out their state financial aid forms – despite states granting students an average of $1000 in additional financial aid. Maybe it’s because high school students often don’t realize there’s an extra step beyond the FAFSA®. That’s why we’re here to explain how the state financial aid process works.