You have been accepted into college and you even saved some money in your 529 college savings plan to pay for it, but it's not enough. It's now time to apply for financial aid, and you have questions.
The FAFSA form from the Department of Education's Federal Student Aid office is the place to start your quest for financial aid; FAFSA stands for Free Application for Federal Student Aid and uses your income/assets -- including funds from your 529 plan -- to determine how much money you can get in grants and loans.
- Free Application for Federal Student Aid
- FAFSA on the web worksheet (optional)
- 529 plan report
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Instructions
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1
Gather together financial information, including the latest report for your 529 college savings plan.
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2
Go to the website for the Free Application for Federal Student Aid at fafsa.ed.gov. Click on the "Start Here" button.
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3
Fill out required information as instructed.
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4
Include the amount of your 529 college savings plan when you add up the value of your assets for question No. 41, the net worth of investments.