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6 KEYS TO UNLOCKING COLLEGE AFFORDABILITY (Millsaps College)

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6 KEYS
TO UNLOCKING
COLLEGE AFFORDABILITY
Millsaps is committed to helping your family explore the wide
range of financial options that can help you pay for college.
The first, and most important, steps toward receiving funds to
minimize your educational costs are to understand and file the
FAFSA (Free Application for Federal Student Aid).
Let’s walk through each step of the filing process now, to make
sure you feel confident that you’re filing your FAFSA efficiently and
at just the right time.
Think of the FAFSA as the most important document you need to complete
to be considered for all types of assistance—federal funds, scholarships,
grants, loans and work-study programs—at every school you’re considering,
including Millsaps.
The FAFSA is the only way colleges and the federal government can
accurately gauge your financial need when awarding assistance. That’s why
Millsaps encourages every student to file the FAFSA, even if you think you
won’t qualify for financial assistance. With so many options out there available
to all types of students, you may be surprised by what you qualify to receive.
KNOW WHY
THE FAFSA IS SO IMPORTANT.
KNOW WHAT YOU NEED
IN ORDER TO FILE THE FAFSA EFFICIENTLY.
To file that FAFSA, you’ll need these documents on hand. Start gathering
them now so when you file your FAFSA, you’re prepared with all of the
required information:
- Student’s Social Security number
- Student’s driver’s license number (if you have one)
- Parents’ W-2s stating their income for the past year
(and student’s, if applicable)
- Parents’ federal income tax return for the past year
(and student’s, if applicable)
- Parents’ most recent bank statement (and student’s, if applicable)
Take note of what’s new and changed on the FAFSA this year too.
Each year, the FAFSA becomes available on January 1. Every school will
encourage you to file your FAFSA as soon as possible, since some financial
awards are given on a first-come, first-served basis. In order to get the most
money possible for your education, get a head start on filing your FAFSA
by registering for a FAFSA PIN now and filling out as much information as
you can as early as you can.
The closer January 1 gets, the longer it could take for the site to generate your
PIN, so we encourage you to request yours as soon as possible. Your parents
will need their own PIN to access the FAFSA site, so ask them to register too!
KNOW WHEN
TO FILE THE FAFSA.
KNOW THE QUICKEST AND EASIEST
WAY TO FILE THE FAFSA.
While there are several options for filing the FAFSA, the quickest and easiest
way to file is by completing your form online. When you file your FAFSA
online, within two to three days your financial information will be sent to every
school you include.
You may also complete a PDF FAFSA, print it and mail it. Or request a paper
FAFSA by calling 1-800-4-FED-AID (1-800-433-3243).
If you print and mail your FAFSA, each school will receive your information in
two to four weeks. In order to make sure you receive the most money you can
for college, it’s best to file online. If you’re not sure which option is right for your
family, explore the options on the FAFSA Filing Options site.
Most of the information the FAFSA requires will come from your parents’ W-2s
and tax return. Even if you have your own W-2 and tax return, you’ll still need
theirs. If your parents are waiting for their W-2s, make sure they know that
filing the FAFSA is time-sensitive so that they will file their taxes as early as
possible. In the meantime, we recommend that your parents request their
FAFSA PIN now and file using estimated figures (they can make revisions after
their W-2s arrive).
Your parents may also be able to help you find additional scholarships. Explore
the companies your parents work for, as well as the church and community
organizations your family may be involved in. Millions of dollars in scholarships
and grants are available too—you just have to know where to look.
KNOW YOUR PARENTS’ ROLE
IN FILING THE FAFSA.
KNOW HOW MILLSAPS
CAN HELP MAKE COLLEGE AFFORDABLE.
We devote considerable resources to making sure you can afford to go to
school here. In fact, more than 90 percent of our most recent enrolling class
received financial assistance of some kind. Explore our range of scholarships,
grants and need-based financial aid, and discover how our simplified
scholarship selection system offers awards worth up to $28,000 per year.
Be sure to list Millsaps on your FAFSA to be considered for these awards.
Our FAFSA code is 002414.
Still have questions? Contact our Office of Financial Aid at 1-800-352-1050
or 601-974-1220, or email us at financialaid@millsaps.edu.
We look forward to receiving your FAFSA soon and would love for you to join
the Millsaps community this fall.
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6 KEYS TO UNLOCKING COLLEGE AFFORDABILITY (Millsaps College)

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Completed 23 July 2020

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