Need some FAFSA advice?

Bring some coffee or any beverage of your choice and do load up on the caffeine because you will be filling-out this form for at least 30 minutes (that's probably an underestimation). Here is a quick overview of some of the things you will need:

• Form W-2
• Other tax documents
• Completed tax return documents
• School codes
• PIN code

Why you need them:

Form W-2

You will need this if: you are required to file for taxes but you have not done so. Note: There are times when people do not have to file taxes because they did not make enough money during the previous year. Always, check the current requirements for filing taxes as they may change from year to year.

If you have worked at some point in your life and have previously filed taxes, then you are familiar with the Form W-2. Your employer sends this to you during the tax filing season and it contains information about your gross income, taxes paid, benefits, etc. You will need this form only if you haven't filed for your tax refund yet. However, If I were to fill out the FAFSA again, I would file my tax return first because not doing so can be a hassle. Why? There are a lot of questions that pertain to your tax return information so if you don't have it, you would have to estimate your earnings from the previous year. Of course, if you are a dependent, you will have to estimate both your income and your parent's income. Now, that's double the hassle.

So, the take home message from this is: file your tax return before you fill-out the FAFSA. However, don't wait until the last minute because the deadline for FAFSA submission to get federal grants is usually in June. One word about the deadline: you can apply for the FAFSA at any time but you can usually qualify for more money if you file before the state deadline.

Other tax documents

You will need this: whether you filed for your tax return or not.

Again, a lot of the questions in the FAFSA asks about your income or any investments you may have. If you are a student, you most likely will not have many investments and/or savings. If that is the case, then this part will be easy for you. However, if your banking institution did send you tax forms that indicate your investments' interest earnings, you are required to report it on the FAFSA. The same situation applies if your educational institution sends you some tax documents that pertain to scholarships and any tuition assistance you may have received from them.

I would suggest that you keep a file of all your tax documents and keep them in one folder for each year. This would make filling-out your FAFSA much easier because you can easily find all the documents you need in one place.

Completed tax return documents

You will need this if: you have filed your taxes already

Filling-out the FAFSA gets easier when you have your tax return documents. When you get to the questions regarding your income, the FAFSA questions usually refer to the item number on the tax document of the figure they are asking you. For example, when the FAFSA asks for your 'adjusted gross income,' it will ask you this way: "What is your adjusted gross income? 1040EZ # etc." Then, all you have to do is look up that item number and the figures you need. That is real easy!

PIN

Ok, so now that we're done with the taxes and income part of the FAFSA, let's move on to another important document...the PIN code. The PIN code serves as your electronic signature for signing your FAFSA application. Before, getting your PIN code used to take at least one week because they have to mail them to you after your requested them online. However, things have changed. The federal government has made this process faster and easier for everyone. Now, all you need to do is put in all the required information once you get to the PIN request section of the application. Then, you can either choose to have them send you a PIN code through snail mail or e-mail or you can make your own.

One great FAFSA advice: make your own PIN code. Why? Two reasons:

• (1) you can sign your application right away as soon as you make your PIN and
• (2) you can remember it better because you made it

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