Plan now for college loans, grants

If your high school senior is heading to college this fall, you may be sweating over where to find the cash.

You’re not alone.

According to a recent survey by Next Step Magazine (www. nextSTEPmag.com), one-third of parents have not saved money for their children’s college education and 55 percent insist that their children share the burden of college costs.

To be eligible for federal and, in many cases, state aid, filling out the Free Application for Federal Student Aid is the first step. And now is the time to do it.

Parents and students must collaborate on the application to be considered for federal grants, work- study and loans. And many colleges use the FAFSA to determine students’ eligibility for state and private scholarships.

Colleges consider FAFSA applications on a first-come, first-serve basis. Some universities began accepting the FAFSA Feb. 1. Others – including Washington State University and several area community colleges – will begin considering applications March 1.

Applications may be made via the Internet and results are posted in about two weeks. To get started, go to www.fafsa.ed.gov.

Don’t be misled by mirror Web sites, however.

“Never pay anyone to file a FAFSA for you or who promises to get you scholarships,” says Nancy Pemberton, a Rogers High School career specialist. “Filing a FAFSA is free.”

Information on the FAFSA is self-reported and comes directly from federal tax returns and bank statements.

Don’t panic if you haven’t filed your 2005 taxes yet. You may use estimated financial information to fill out the FAFSA now and update it later, says Pemberton.

Need help with the FAFSA? Call the financial aid office at Spokane Community College (533-7017). The staff can help you with the FAFSA or let you use a computer – even if your student plans to enroll elsewhere, says Tammy Zibell, assistant director of financial aid.