"The level of detail required leaves many families feeling confused and uneasy,” says Mueller, Director of Financial Aid at Cardinal Stritch University in Milwaukee, Wis.  “Those of us in the financial aid business certainly recognize that."

Let's be truthful.  The process is by no means easy.  But following these eight steps could save you many hours of frustration.

1.  Get A PIN

The first step is to log-on to www.pin.ed.gov and get Personal Identification Numbers, or PINs, for yourself and your child.  The PINs act as electronic signatures. They  speed up the whole process.

2.  Apply On-Line

The application itself is called the Free Application for Federal Student Aid, or FAFSA.  Paper FAFSAs do exist, but you’ll want to use the web site www.fafsa.ed.gov.  The online FAFSA is easy to use and mistake proof.  It will review your child’s application before you hit the send button.  Plus, going electronic moves your application quicker through the process.

3.  Apply Early

You’ll want to get your child to apply as soon as possible after January 1.  With financial aid the early bird gets the worm.

4.  Get Your Taxes Done

You’ll need to provide federal income tax information for both your dependent child and yourself, from the last complete tax year. For example, the 2005-06 FAFSA is collecting 2004 tax numbers.  Estimated figures are fine; so don’t put off completing the FAFSA if you’re a late tax filer.  You’ll just need to remember to update the form with final numbers once you have them.

5.  Understand The Basics

There are some concepts that you’ll want to know. First is the Estimated Family Contribution, or EFC.  The EFC is the federal government’s way of measuring your family’s ability to help pay for your child’s college cost.  It gets calculated from the information that you report on the FAFSA, but the term is misleading.  It is not the amount that you’ll be writing a check for.  Instead, it is a key part of the calculations that the school will do to determine your child’s financial aid package.

A financial aid package lays out specific dollars your child is eligible for. The school will probably ask for a decision on the package, so pay attention to deadlines.

Finally, there are both need-based and non-need-based funds.  For an overview of need-based and non-need based financial aid, visit: http://studentaid.ed.gov/students/publications/student_guide/index.html. Don’t be afraid to call the school with more specific questions.

6. Don’t Assume Anything

Many parents don’t bother to have their children apply, because they think their income is too high and their child will be denied.  Nobody is denied financial aid because of their income level.  At the very least, they’ll receive a non-need based student loan.   

7.  Don’t Get Duped

Unfortunately, there are financial aid scams.  Make sure you’re using the right site to sign up.  There are look-alike sites.  The FAFSA is a FREE application, so you should run from any site that asks for payment or credit card information.  Also, watch out for any services or consultants that offer help in completing the form, getting a better package for your child, running scholarship searches for a charge, and so on.  Like most things, if it sounds too good to be true it probably is.

8.  Do Some Legwork

The federal government isn’t the only source of financial aid.  Many states have their own grant programs, so take some time to learn about any state money your child might be eligible for.  Also, talk to the financial aid office to find out if your child’s school offers anything. And look around your church or synagogue, the internet and talk to people.

Ben Baerbock is the proud father of a two year-old daughter.  He is also the Assistant Director of Financial Aid at Cardinal Stritch University in Milwaukee, Wis.