If you look around on the Internet, you’ll find some postings by students and even parents crowing about how they avoiding filling out the FAFSA, i.e. the Free Application for Federal Student Aid. My advice is that that is probably a dumb decision. Admittedly, when you approach the task for the first time it can look intimidating, but after you’ve done it once it is “a piece of cake.” (Many high schools have a “FAFSA Night” where a guidance counselor will show you the ropes.”)

Here are the five reasons to make the effort:

• The FAFSA is the gateway to all financial aid including Federal loans.
• You don’t know what you don’t know. This is a government form based on some pretty arcane computations. It is best not to assume. You may be pleasantly surprised.
• Some schools require the FAFSA to get merit based aid.
• Some students may benefit even if they don’t qualify for aid. Being flagged as not needing financial aid gives you an advantage for admission at some schools.
• The family’s financial situation can change from year to year, e.g. loss of a job, another child in college, etc.

There is one reason families fill out the FAFSA I disagree with. If you follow my postings, you know how I feel about student loans—negatively. I don’t agree with the logic of having your student take out a loan to give them “skin in the game.” Here’s my reasoning:

• Most eighteen year olds barely know what a loan or interest is.
• Paying off this loan is so far in the future as to be unreal. (After all six years ago they were in middle school.)
• Only one in four students with loans graduate and get a good job. This means your kid will be trying to pay this back while working at Starbucks. I do agree with the accountability principle. Have your student get a part time job.

Here are my FAFSA tips:

• File early. Be first in line for aid. You can always file a correction when you get your latest tax return.
• The finances of the custodial parent are what counts.
• Use the government website. (This one works and works well.)
• Get the Social Security number and the exact name on your Social Security card right.
• Don’t forget to sign (electronically) the form.