Following up with another fun FAFSA fact...

Items:

• Percent of families who know that FAFSA is available starting October 1st [25%]
• Percent of families who plan to complete the FAFSA together WITH their college bound child [37%]
• Percent of families who plan to complete the FAFSA [97%]

If you need an explainer, here's a two minute video explaining the FAFSA:

Questions:

• Why do you think the FAFSA is so important? Does this survey information confirm how important it is? 
• Have you had a conversation with your family about filing the FAFSA? 
• Do you plan to complete the FAFSA with your parents OR do you think they will complete it on their own OR do you think you will complete it on your own? 
• Do you think it's important to complete the FAFSA soon after October 1st? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Yahoo News):

While most parents surveyed planned to make sure the FAFSA is filled out, only 25% knew that it becomes available in October. That could be problematic because families that wait to fill out the FAFSA may lose out on financial aid sources that run out quickly. “It’s really important to know that some schools award financial aid on a first-come, first-served basis, so parents and students should fill out the FAFSA as soon as it becomes available on October 1,” said Nicole Straub, vice president for Discover Student Loans in a press release.

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Check out our Paying for College unit for more resources to help your students navigate the college-going process.

For those students looking for alternatives to 4-year colleges, check out our NEW Mini-Unit on this topic. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.