FASA Cycle To Open on October 1st - Here's What To Do
About a week ago through October the first the facet. Has a planned outage? This allows for the new updates to load in the system and it will open on October first. Now, the fastest cycle lasts twenty one months from October one before the school year begins and it closes on June thirtieth of that year and each year their system changes and processed guidelines that can cause issues when logging in or when processing your paperwork, and that is why I always recommend waiting about a week or two because the irs website might be experiencing some technical issues and you really want them to work it out. there is no big rush to log on October one or even. October. Second to do anything the money's not going to run out in a day or two and I want to talk about what you can do two things to really important things you can do during from now until you complete your Fassa that will help get you moving in that direction. So I know a lot of times families here that you know the money is on a first-come-first-served basis and that is true. the funds that the schools received they allocate based on you know as their students submit their applications and acceptances or made. However, they're not gonNA run out of money in a week or two. So waiting is always in your best interest because. You know in the past, there have been issues with the data retrieval toll when the federal government went to a different shorter tax form, I believe that was twenty eighteen there were issues or with the two thousand eighteen cycle. So you just want them to work those issues out and you don't WanNa be the Guinea pig you don't want them working out on you so. No rush you know maybe put on your calendar for October fifteenth or even October thirtieth but no rush. So. Here's what you can do. Instead two big things. Number One, really start to gather all your documents. So everything in place ready to go so that you're just in all the data. So one of the first things you want to do is get your F- Essay I D, and you can create that at f. s. a. ide- dot E dot go the have this link in the show notes. And both the student and the parent will need to create their own FSI ID and you keep it private because it's your electronic signature. and you will use this. Your student will use this for all of their years of school and parents. You'll use the same idea for your current student and if you have other students after this student who use that same day. Also make sure you have all social security numbers, driver's license license numbers and alien registration numbers if you're not a US citizen. Now you'll want to gather your W. Twos, federal income tax returns, any other records of income earned. And for the parents income you want to have the most tax return. So for this cycle for the twenty, twenty, one, twenty, two, you're going to have your twenty nineteen tax return. So just having on hand even though you will most likely be using the data retrieval toll there's some cases where you shouldn't use it, but if you're using it but it's still just really good to have it on hand as well as ten forty forms If. The Student Is Independent Bank statements and records of investments and just records of untaxed income, and this leads me to my second thing that you should be doing and that is no the schools you're you're planning to apply to so. Begin to think through the list of schools you're interested in attending. sure. You add colleges you're considering even if you haven't applied yet most likely students have not applied by the time you know it's still September. So most likely applications are not in. An for many students are still waiting to sit for either the sat or act. So you know that application may not be in yet. or You may not have heard back. But even if there's a slight chance that you'll be attending, that are applying to that college you one to listed on the fast form you can always remove it later if you decide not to apply. But if you wait too long if you're waiting until the this spring or later to at a school, you could miss out on financial aid. So my number two point is really to think through your list to build your college list and get those schools are on your list on your essay on the Fassa form. So that they receive your results electronically when you do submit. To help them to determine the type of a that you would receive. Okay. Now, you can list up to ten schools at a time on the form if you're applying to more than ten schools, this is what you do. So you'LL WANNA give it like a week or two be a week or you know for the school to retrieve the data and pull it off, and then what you do is go log. Back in Click on the homepage log into your F s you're facil- account and you'll be given the option to make corrections. What you'll do is just remove a few of the schools on your list and then add the additional schools hit submit and then it sends it out again to those particular schools. So again, the two things that you can do while you wait and don't rush for that October one deadline. I'm number one, gather all your documents that you're going to need all your supporting documents and number to really think through the school list because just completing it that step one but part of that completion process is knowing where's the information going and what what I don't want to Excuse me what I don't want to have happen is you know students kind of complete it and forget about it. In terms of the later lying for school maybe November or December and forget Oh, I forgot to add that school to the list. So really keep a list of the schools at you're planning to apply to and make sure that they are on the list on the fast form.