If you are planning to go back to college, figuring out a way to pay for the expense is most likely high on your priority list. Fortunately, there is a great deal of financial aid available through the government as well as through most colleges and universities that can help you make going to college more affordable. If you want to fully enjoy the benefits of financial aid, however, there are a few steps you need to be certain to take.

Step #1: Send Your FAFS in on Time

The first step toward obtaining any financial aid is to accurately complete and turn in a FAFSA. Even if you think you won’t actually qualify for financial assistance, it is still in your best interest to complete a FAFSA. You might be surprised by the financial assistance that you are available to receive! In addition, completing the FAFSA is the first eligibility requirement for receiving many private grants as well, so don’t cut yourself off from opportunities by failing to complete the FAFSA. You will need to have all of your tax information ready when it comes time to complete the FAFSA, so be sure to gather all of the proper paperwork and then head over to fafsa.ed.gov to fill out the application online.

Step #2: Provide Additional Information if Applicable

When you complete your FAFSA application, you will find that the form is quite generic and does not take into account special circumstances that may have changed your financial situation. Therefore, if you have experienced a major change in finances – such as a loss of a job or massive medical expenses – be certain to write a letter explaining your circumstances to go along with your application. By demonstrating that your situation has drastically changed, you may become eligible for additional assistance. If you have any documentation to backup your claim, be sure to include copies of that paperwork as well.

Step #3: Know the Rules

The rules regarding what you do and do not have to report on your FAFSA do change from time to time, so make certain you do not include income that you are not required to include. For example, you do not have to include untaxed Social Security benefits that you may have received. If you include this information as part of your income, you may not be eligible to receive as much as assistance as you deserve. So, while you certainly need to be honest about your income, don’t include more than what you are required to share.

Step #4: Explore Your Options

There are several different types of financial aid available to college students, including grants and work-study programs, that can help you pay for your college expenses. Even if the FAFSA does not come back with financial aid for you, discuss your needs with the college you are planning to attend. In many cases, colleges have programs available to help those in need of assistance who do not qualify for government assistance. By exploring all of your options, you will be able to find the program that works for you.

Step #5: Play it Smart with Family and Friends

If friends or family members are interested in helping you pay for your college expenses, ask them to keep their own name until you need them. Or, if you are still living at home and are required to provide your parents’ income information, ask them to put the funds in your parents’ names rather than putting them in yours. Any available funds that are listed under the student’s name are weighed more heavily than those in the parents’ names when determining eligibility for financial assistance. If friends and family members who wish to contribute keep the funds in their names, however, those funds won’t be considered at all when determining eligibility. If you want to eliminate the confusion of whose name is on the account, you may want to ask them to simply make school-related purchases, such as books and other supplies, on your behalf.