Learn more about key steps you should take from Coalition member SecureFutures
Right now, millions of high school seniors are thinking about how to afford college, career school or trade programs. The single most important step to make college affordable is to fill out the Free Application for Federal Student Aid (FAFSA).
And yet, each year, millions of students leave money on the table simply because they don’t complete this important step. The high school class of 2023 alone missed out on more than $4 billion in Pell Grants—funds that don’t have to be repaid. Here in Wisconsin, just 28% of seniors have taken this step as of February 7, 2025. FAFSA is about much so much more than loans: scholarships, institutional aid, promise programs and many other kinds of aid require the FAFSA. For students from under-resourced communities, this missed step can widen the opportunity gap, leading to more student debt or even preventing students from attending college altogether.
Luckily, Wisconsin students have help for financial planning well before the FAFSA.
SecureFutures’ Money Path tool helps students map out their post-high school journey, ensuring they make informed financial choices. Money Path gives students a powerful, no-cost, real-life tool to make personalized, financially-informed decisions for life after high school. Whether they need help making smart decisions about student loans, creating a monthly budget based on their career, or planning for long term financial goals, Money Path helps students see and realistically plan for their futures.
Why financial planning before completing the FAFSA matters
The FAFSA is an essential tool for unlocking financial aid, but it doesn’t answer the bigger question: How much will I actually need for my education, and what options make the most sense for my future? Money Path helps students explore these answers early, making the FAFSA process smoother and more strategic.
Financial planning shouldn’t start with the FAFSA—it should start with a clear understanding of what education and career choices will mean for a student’s financial future. Money Path empowers students to make confident, informed decisions about their next steps so that by the time they fill out the FAFSA, they already know what they need and why.
With Money Path, students can:
Compare the cost of in-state vs. out-of-state schools, two-year vs. four-year programs, and even trade schools. Money Path can help estimate students’ financial aid eligibility at various schools based on family income.
See how different career paths impact their future salary and student loan repayment.
Factor in living expenses, scholarships, and family contributions to create a full financial picture.
Adjust their plan over time, ensuring they stay on track each year when completing the FAFSA.
Once you’ve made that financial plan through Money Path, don’t forget to complete the FAFSA!
Five steps to a FAFSA-ready future:
Create a free StudentAid.gov account. Students and their parents (if student is dependent) will need to create a student account (formerly known as an FSA ID) before filling out the FAFSA. This step takes just a few minutes but verification can take a few days, so it’s best to start early.
Gather financial information. The new, simplified FAFSA will retrieve much of this information directly from IRS tax returns. As a backup, students and parents should have access to their 2023 tax returns, W-2s, and other financial documents.
Make a list of schools. Now, you can list up to 20 schools to receive your FAFSA information. There’s no drawback to listing every school under consideration, even if they haven’t applied yet. Money Path can help narrow choices by comparing tuition, cost of living, and potential student loan needs.
Parent Information. Dependent students will need to have on hand certain demographic information for their parents, including stepparents in certain situations. You can find more details on this on the StudentAid.gov website: https://studentaid.gov/apply-for-aid/fafsa/filling-out/parent-info
Avoid common mistakes: Leaving fields blank, using incorrect numbers, or forgetting to sign the form can delay aid. Money Path helps students prepare in advance, reducing errors and maximizing their financial aid potential.
How to Take Action on Building Financial Success Before College
Schedule a 15-minute live demo of SecureFutures’ Money Path tool to learn how you can bring this essential tool to your Wisconsin school. https://moneypath.securefutures.org/
Register for an upcoming, free virtual FAFSA completion event at https://lu.ma/fafsahelp , or book a 1:1 free, virtual help session with Coalition member Fair Opportunity Project. https://www.fairopportunityproject.org/fafsa-help
About our Coalition Members:
SecureFutures, founded in 2006, equips teens with money management skills, tools, and mentoring so they can achieve financial capability, reach their goals, and strengthen their communities. SecureFutures is a leader in teen financial literacy with programs that have impacted more than 112,000 teens.
Fair Opportunity Project serves students in Wisconsin and nationwide with free FAFSA help, college application essay review, and personalized virtual mentoring.