It’s hard to believe that August has arrived. For rising high school seniors, that means that college application and financial aid season is almost here. While the FAFSA and CSS Profile may not have opened yet, August is one of the most valuable months to prepare. The families who spend a little time getting organized now are often less stressed come fall. Instead of scrambling to gather documents and remember deadlines, they’ll be ready to focus on completing applications with confidence. If you’re wondering what you should be doing this month, here’s your ultimate August financial aid checklist.
Talk About College Costs
One of the most important things you can do is have a family conversation about finances before senior year begins. Open family discussions help prevent confusion later. Make sure everyone is on the same page about your family’s college budget, monies that are available, scholarship and student employment expectations, and potential borrowing. These discussions help students build a college list that’s both exciting and financially realistic, so they’re not putting in time and effort applying to schools that aren’t practical.
Finalize Your College List
Before you complete financial aid applications, make sure your college list is as up-to-date as possible. If your student has visited campuses over the summer or changed their mind about where they’d like to apply, now is the perfect time to revisit the list.
As you narrow your options, research each school’s financial aid requirements. While every college accepts the FAFSA, many private colleges also require the CSS Profile or have additional institutional financial aid forms. Knowing these requirements now will help you avoid surprises later. Create a document with your list where you can add notes and deadlines to keep yourself organized.
Gather Your Financial Documents
One of the best ways to reduce stress this fall is to organize your paperwork before application season begins. I suggest creating a paper or digital folder that includes documents such as:
- Federal tax returns
- W-2 forms
- Records of untaxed income
- Bank and investment information
- Other financial documents you may need
Think of it like preparing for tax season. Filing always goes much more smoothly when everything is organized ahead of time instead of searching for documents at the last minute before the tax deadline.
Confirm Login Information
One of the most common delays during financial aid season, aside from missing paperwork, is forgotten passwords.
Make sure both the student and parent know how to access their FSA ID accounts, College Board account (if the CSS Profile is required), and College portals. Store usernames and passwords somewhere secure so they’re easy to find when applications open.
Review Deadlines
Not every college follows the same timeline. Some schools have priority application deadlines, while others have separate deadlines for scholarships or institutional aid.
Take time this month to review each college’s application and financial aid deadlines and add them to your calendar. Knowing when everything is due for each school and each component of the process, can help prevent last-minute stress later.
Continue Researching Scholarships
Scholarships aren’t something you have to wait until spring to pursue. August is a great time to begin researching local, community organization, employer-sponsored, and national scholarship opportunities.
Create a spreadsheet or folder to track deadlines, eligibility requirements, and application materials. Even if applications don’t open for several months, you’ll have all the information ready and know where to focus your efforts.
Keep Checking Email and College Portals
As schools prepare for application season, they often begin sending important updates. Get into the habit of checking email and college portals regularly so you don’t miss information about admissions, scholarships, or financial aid. A few minutes each week can save a lot of confusion later. On top of that, this is a habit you need to get into, as checking portals weekly will be on your to-do list for the next several months!
Enjoy Senior Year
August marks the beginning of an exciting chapter for rising seniors. Yes, there are forms to complete and deadlines to meet, but there will also be football games, homecoming, senior photos, family traditions, and countless memories you’ll treasure for years to come.
Preparing for financial aid doesn’t mean spending every free moment thinking about college and crossing off items on your list. It simply means taking a few intentional steps now so you can enjoy senior year without feeling overwhelmed.
Financial aid season can seem intimidating, but it doesn’t have to be. The families who feel the most confident during the fall are the ones who took the time to prepare.
More about Jodi and College Financial Aid Advisors
Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.