Confused by FAFSA? You have plenty of company

It wouldn’t be college financial aid season without a fair amount of anxiety, frustration and confusion among students and parents.

By now, many students should have filed the Free Application for Federal Student Aid — the starting point for most types of financial aid — or be closing in on completing it. Some early birds have already received their financial aid award letters from their favorite schools.

And judging by the emails I’ve recently received, families have plenty of questions about FAFSA protocols. Here are answers to some of the FAFSA questions readers have sent me, edited for clarity.

Q: My daughter is a nurse, and she has been accepted into a three-year program to be an anesthetist. The program starts this September. Can she file a FAFSA, and would she qualify for loans or grants? A:

Financial aid for graduate and professional school programs is parceled out in much the same way as undergraduate aid. The FAFSA is required, and other aid forms might be required as well.

Student loans are somewhat easier to come by in graduate school, according to the latest edition of the Princeton Review’s “Paying for College.” Grants and work-study money are also available.

In addition, some states offer grants for home-state students in specific academic programs — nursing being one of them. Nonprofits and other organizations also offer scholarships and grants for nursing students, although tens of thousands of dollars often go unclaimed. Check with your state higher education office and community organizations.

Q: Is it worth appealing to a college for more financial aid? A:

A college’s first offer is not usually its final, best offer, said Billie Jo Weis of My College Planning Team in Naperville, Illinois. “An appeal won’t hurt you or your student, and some colleges will award an additional $1,000 just for trying.”

There is no universal appeals process, so check the school’s website for details on what forms and other documentation will be required. The appeal should be submitted to the school’s financial aid office, not to the U.S. Department of Education as some mistakenly believe.

Q: I’m confused over what investments are reported on the FAFSA. A:

When it comes to FAFSA, there are two types of assets — those that are reported on the FAFSA and those that are not.

“Money in a qualified retirement plan and the net worth of the family’s principal place of residence — the family home — are not reported as assets by parents on the FAFSA, said Mark Kantrowitz, author of “How to Appeal for More College Financial Aid.”

On the other hand, he said, money in a bank or brokerage account is reported as an investment asset on the FAFSA, as well as any real estate investment other than the primary family home, such as a summer vacation property.

Q: I accidentally entered an incorrect Social Security Number on my daughter’s application. How do I fix it? A:

If you need to make a fix, it may require submitting an entirely new application. To avoid that scenario, contact the financial aid office of one of the colleges listed on your financial aid forms and ask them to change it for you. Remember it needs to be your child’s Social Security number, not yours.