This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

College Financial Aid Application Season Kicks Off A New Year

Sallie Mae, the nation’s No. 1 financial services company specializing in education, has a New Year’s resolution that should be on the list of every high school senior and college student: complete the Free Application for Federal Student Aid (FAFSA), available on Jan. 1.

Used to calculate eligibility for federal grants and loans, as well as resources from states and institutions of higher education, the FAFSA can be completed online at www.fafsa.gov for upcoming academic year 2013-14.

“The FAFSA is the key to unlocking the financial aid that’s so important to students and families,” said Joe DePaulo, executive vice president, Sallie Mae. “By following a few simple tips as you complete the FAFSA, you can maximize your chances of receiving financial aid that will make higher education more affordable.”

The application form collects information about the current financial situation of the student applicant and their parents. It is used by the U.S. Department of Education, states and colleges to assess financial need. That assessment is a factor in student financial aid award letters.

New this year, hundreds of colleges and universities have committed to adopt the new “ Financial Aid Shopping Sheet,” with the goal of making it easier for students to compare their options for college. The standardized financial aid award letter presents information about the cost of attendance, financial aid options, graduation rates, and other data in a standardized format.

The FAFSA is a critical first step in the “1-2-3 approach” Sallie Mae recommends families take to pay for college. First, make sure to take advantage of free money such as grants and scholarships. Next, explore federal loans. Finally, if necessary, fill the gaps in funding with affordable private loans.

At CollegeAnswer.com, Sallie Mae offers free how-to videos and checklists to help make the process easier, including these tips:

1) Gather necessary information. Collect the documents with the information you’ll need to complete the application, such as student and parent driver’s licenses, latest federal income tax returns, W-2 forms, bank statements, investment information and Social Security numbers.

2) Know your state’s deadline. It’s important for families to learn their state’s submission deadline for the FAFSA. Deadlines vary by state, with the earliest being February 15 in Connecticut, quickly followed by California, Idaho, Indiana, Maryland and Michigan in early March. State deadlines are available on the FAFSA website. In addition, check your school’s deadlines and additional financial aid application requirements.

3) Don’t let income tax filings slow you down. The FAFSA requires students and parents to use 2012 tax information, but don’t panic—families can use their 2011 taxes or another best estimate to get started. Once 2012 taxes have been filed families can then update the form.

Sallie Mae (NASDAQ: SLM) is the nation’s No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include 529 college savings plans, Upromise rewards, scholarship search tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,113.54 +61.81 0.36%
S&P 500 1,983.53 +9.90 0.50%
NASDAQ 4,456.0160 +31.3120 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs