Tips for Filling Out the FAFSA® as a First-Generation College Student

If you’re a first-generation student, congratulations on taking this exciting step toward higher education! But let’s be real—figuring out how to pay for college can feel overwhelming, especially when it comes to filling out the FAFSA® (Free Application for Federal Student Aid). If you’re unfamiliar with terms like “Student Aid Index” or “FAFSA® Submission Summary,” don’t worry—you’re not alone. This guide will walk you through everything you need to know about filling out the FAFSA® as a first-generation college student.

What Is FAFSA®, and Why Should You Care?

FAFSA® is your golden ticket to financial aid. Filling it out not only makes you eligible for federal aid like grants, work-study, and loans, but it’s also used by many colleges to determine how much institutional aid they’ll give you. Even some scholarships use your FAFSA® information to decide how much aid you qualify for. So, if you want to maximize your chances of getting financial help, filling out the FAFSA® is a must.

Who Can File the FAFSA®?

Great news! Almost everyone is eligible to file the FAFSA®. As long as you’re a US citizen or an eligible non-citizen with a high school diploma (or equivalent), you can submit it. Plus, you’ll also need a Social Security number.

Types of Aid Available

When you submit your FAFSA®, you’re essentially opening the door to three major types of financial aid:

Grants: Free money that you don’t have to pay back. The most well-known grant is the Pell Grant, which is awarded to students with significant financial need.
Federal Work-Study: A program that allows you to work part-time on or off-campus to earn money to help pay for your education.
Loans: Borrowed money that you’ll need to repay with interest after graduation. Federal loans typically have lower interest rates than private loans¹ and come with flexible repayment options.

Understanding Your Estimated Cost of Attendance (COA)

When you fill out the FAFSA®, you’ll encounter the Cost of Attendance (COA), also referred to as a Student Budget, which estimates your total college costs for a year. The COA is determined by your school and varies based on factors such as tuition, fees, housing, food, and other estimated expenses. It covers more than just tuition—think room and board, textbooks, transportation, and personal expenses. Knowing your COA helps you budget and determine how much financial aid you may need. For a deeper dive into how the COA is calculated and what it includes, check out this Going Merry guide on financial aid award letters.

Here’s what COA includes:

Tuition and Fees: The cost of your classes and any required fees.
Room and Board: Housing and meal plan or living expenses off-campus.
Books and Supplies: Estimated costs based on your courses.
Transportation: Commuting, gas, or travel home.
Personal Expenses: Miscellaneous costs like laundry and toiletries.

Why It Matters: Your COA minus your Expected Family Contribution (EFC), called the Student Aid Index (SAI), helps schools calculate your financial need, determining how much need-based aid you can receive.

Pro Tip: COA includes both billed expenses (like tuition) and non-billed ones (like personal costs). Understanding both helps you plan better and avoid surprises. Check out this highly useful budget checklist for the parents of high school seniors.

Planning around your COA is key to managing your college finances!

The Importance of Filing Early

File your FAFSA® as soon as possible after it opens. This is (typically) on October 1st, but it was delayed last year and will be fully released by December 2024 for the 2025/2026 school year. Why? Because some financial aid is awarded on a first-come, first-served basis. Waiting until the last minute could mean you miss out on some money. Plus, filing early gives you more time to correct any errors, submit additional forms (if needed), and plan out your finances.

Tips for First-Generation Students

Filling out the FAFSA® as a first-generation student can present a few unique challenges, but these tips will help you get through the process smoothly:

Gather Your Documents Early: You’ll need information like your Social Security number, tax returns, and possibly your parents’ financial information. If you can, start gathering these documents before you even begin the FAFSA® so you’re not scrambling later. Here’s a handy FAFSA® Prep Assignment checklist (provided by Going Merry and not affiliated with the Department of Education) for you to use!
Ask for Help: Many first-generation students might feel hesitant to ask questions, but there’s no need to go it alone. Reach out to your school’s financial aid office or use online resources like FAFSA® help lines. Many high schools even host FAFSA® workshops.
Don’t Be Discouraged by Parent Info: If your parents didn’t go to college, they might feel just as confused by the process as you. It’s OK if they don’t know all the answers. Many financial aid advisors are happy to help you (and your family) navigate the tricky questions about income and taxes.
Be Aware of FAFSA® Deadlines: Federal and state deadlines can vary, but your school might also have its own deadline for submitting the FAFSA®. Missing these deadlines can mean losing out on aid, so stay on top of them!
Be Careful of Social Media Updates: It’s easy to get caught up in social media posts about financial aid or the FAFSA®, but not all information you see online is accurate. Double-check anything you come across with official resources, like your school’s financial aid office or the FAFSA® website, before taking action.
FAFSA is Free to File: The FAFSA® is exactly what its name suggests—completely free to file. The US Department of Education provides the tools you need, without cost, to file your FAFSA accurately.

However, there’s still immense value in seeking assistance from financial aid consultants, particularly when it comes to navigating the more complex aspects of the process. These professionals can explain the intricate FAFSA regulations, help you understand what financial figures to include or exclude, and guide you through the submission process with ease. They don’t just focus on the FAFSA either—they assist with a range of federal forms, offer insight into aid eligibility, and can even provide strategies for maximizing your aid opportunities.

While filing your FAFSA shouldn’t cost a penny, the knowledge and expertise that financial aid consultants bring to the table are worth considering. This is especially true for students and families who feel overwhelmed by the complexities of the application.
Do Not Disclose Sensitive Information Outside of the Official Form: Keep your personal details secure by only entering your Social Security number and financial information on the official FAFSA® website. Be cautious of any third-party sites asking for sensitive information, as this could put you at risk for identity theft.

Real Talk: First-Gen Student Stories

Let’s look at two first-generation students who’ve gone through the FAFSA® process. Their experiences might sound familiar and offer some valuable insight.

Case Study 1: Emily’s Journey*

Emily didn’t think she could afford college. As a first-gen student, she had no idea where to start with financial aid, and her parents were confused about the forms they needed to fill out. But after attending a FAFSA® workshop at her high school, she realized she had more options than she thought. By filing early, Emily was able to receive a mix of grants, work-study, and loans—enough to attend her dream school. Her advice? “Start the FAFSA® process early and don’t be afraid to ask for help. It can be scary, but it’s worth it!”

Case Study 2: Carlos’s Experience*

Carlos hit a roadblock when he didn’t have access to his parents’ tax returns. He learned that he could still submit the FAFSA® and mark it as “will file,” which allowed him to update the information later. Because of this, he was able to submit the form on time and still qualify for aid. His tip for other first-gen students? “Don’t wait for the perfect moment. If you don’t have all the info right away, submit the FAFSA® anyway—you can always go back and update it.”

*Individual results may vary.

Things to Be Aware Of

Make Sure Your Info Is Accurate: FAFSA® forms can be tricky, and even small errors—like entering the wrong tax year information—can delay your aid and adversely affect your financial aid.
Use the IRS Direct Data Exchange (DDX): This tool imports your tax information directly into the FAFSA®, reducing errors and saving you time.
FAFSA® Renewal: Once you’ve filed your first FAFSA®, remember that you’ll need to renew it every year to keep getting aid.

What to Do If You’re Not Eligible for the FAFSA®

If you’re ineligible for the FAFSA®, you can look into these other types of assistance:

State aid applications: Some states offer alternative aid applications for students who are ineligible for FAFSA due to immigration status.
Scholarships and grants: Students can look for scholarships and grants from schools, private organizations (like with Going Merry), community organizations, religious organizations, and fraternal organizations.
Veterans benefits: Students who have served in the military (or have a family member who has) may qualify for VA educational benefits.
CSS Profile (or College Scholarship Service Profile): An online application that helps students apply for non-federal financial aid from colleges and scholarship programs.
Part-time work: Students can consider working part-time to help cover their school expenses.
Private student loans: Students can consider private student loans, like those offered with Earnest.
Tuition assistance programs: Many employers offer tuition assistance programs that can help cover some or all of a student’s tuition and related expenses.
Switch to a less expensive school: Students can consider switching to a less expensive school, even if only temporarily.

The Bottom Line

As a first-generation student, navigating the FAFSA® process can feel like you’re trekking through uncharted territory. But by preparing early, asking for help, and staying organized, you can make your college dream a reality. If you want to stay up-to-date on important deadlines like these, use our Smart Planner – it’s a free, customizable checklist to make sure you don’t miss anything.

So, take a deep breath and dive in. You’ve got this!

Disclaimer: The opinions expressed by the interview subjects are not necessarily those of Earnest. This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.

1 Before applying for private student loans, it’s best to maximize your other sources of financial aid first. It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities. 2) Next, fill out a FAFSA(R) form to apply for federal student loans. Federal Direct subsidized and unsubsidized loans, excluding PLUS Loan for Parents and PLUS Loan for Graduate and Professional Students which require a credit check and a credit worthy endorser if the parent or graduate or professional student has adverse credit, do not require a credit check or cosigner, and offer various protections if you’re struggling with your payments. 3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2. For more information, visit the Department of Education website at https://studentaid.gov/.

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Daniel Bod

Writer at Going Merry

Daniel Bod is a seasoned higher education professional with two decades of expertise in financial aid. He began his career at Hofstra University in 2004, after completing his Bachelor's degree from Stony Brook University in 2000, where he provided comprehensive financial aid support to families from diverse backgrounds. In 2007, he transitioned to LIU Post and advanced to Senior Assistant Director of Enrollment Services, dedicating over ten years to assisting students and families in various capacities. During his tenure at LIU Post, Daniel also earned a Master's degree in Childhood Education. Transitioning to St. George's University in 2019, he spent over four years focusing on the financial needs of medical students. Daniel excels in advising on loan options and empowering students and families to make informed decisions about educational finances.