Read the FAFSA form carefully and fill it out as accurately as possible. Small mistakes could cost your child financial aid in the future. Also ensure you understand which assets count toward your EFC and which are exempt.
Buy all necessary supplies before sending in the FAFSA form. Use your own money to purchase items such as a computer or school clothes. The goal here is to lower your current assets, qualifying you for more financial aid.
Attend college along with a sibling or another family member; doing so will raise the expected cost of education for your family and result in more financial aid.
Tell family members to reserve monetary gifts until your graduation date. The less money in your possession as you fill out your FAFSA, the better.
Send in your FAFSA before acquiring large sums of money. For example, if you or your parents plan on applying for a job in the near future, fill out your FAFSA beforehand. You should apply when your available funds are at their lowest, which is also the best time to use your savings to eliminate or reduce consumer debt, such as credit card debt and auto loans.
Acquire a Dependency Review Form from your school and file as an independent student, if applicable, which means that you are not living at home or receiving financial assistance from your parents or guardians. You may also qualify if you are a married individual, an Armed Forces veteran, orphan or have reached a specified age.