Definition
The FAFSA (Free Application for Federal Student Aid) is a comprehensive
form. Students and their family should be prepared to provide
extensive information about family income and income taxes from
the previous year; assets, family size, the number of family members
attending college, and more.
For students planning to attend college this fall, the FAFSA
is their starting point to apply for many student financial aid
programs. Many schools also use the FAFSA as part of their application
process for non-federal aid.
By law, the FAFSA cannot be submitted before January 1. However,
it's a good idea to stress the importance to gather the
paperwork and fill out the FAFSA in December. That way, when January
1 rolls around, students are ready to submit the application.
It is important to note that student aid is generally awarded
on a first-come, first-served basis. So the more time that passes
after the January 2 start date, the higher the risk of missing
out on available funding.
It's an annual event
Let students know
that submitting the FAFSA is an annual process. Every year they
are in college, they'll need to submit the FAFSA. There's
good news, in most cases, students can submit a Renewal FAFSA.
Students who receive the Renewal FAFSA will find the previous
year's information preprinted on the form. They are only
required to provide new financial data and non-financial information.
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Overview of
the Application Process
- Students and their family complete the FAFSA and submit to
US Department of Education (ED).
- ED sends the family a Student Aid Report (SAR). The SAR includes
the official Expected Family Contribution (EFC) which is calculated
based on the information provided on the FAFSA. View
a sample SAR.
- ED sends the same information to the schools students listed
on the FAFSA. This report is known as the Institutional Student
Information Record (ISIR).
- Schools use the EFC to assemble a financial aid award package
which is sent to the student.
Ways to Apply
To maximize a student's chances of receiving financial
aid, the FAFSA should be submitted as soon as possible after January
1 of the year for which student funding is needed. For example,
students planning to attend college in the fall of 2010 should
be ready to submit their FAFSA in January 2010.
There is no charge to submit the FAFSA. The application may be
submitted via the Internet (using FAFSA on the Web) or using the paper
version.
FAFSA on the Web | FAFSA on the Web
Worksheet | Paper FAFSA
FAFSA on the Web
To fill out the FAFSA online, visit the FAFSA
Website. Students interested in signing their FAFSA electronically
will be prompted to request a PIN. Students should keep their
PIN a secret in order to protect the privacy of the information
they provide.
Some of the benefits to filing the FAFSA electronically:
- On-line help is available for each question.
- Edits are built in to notify students of potential errors
before the application is processed.
- Electronic filing is faster than submitting the paper version.
- Calculations are performed automatically.
- Software encryption is enabled to protect personal information.
FAFSA on the Web Worksheet
Students planning to complete their FAFSA online should download the FAFSA on the Web Worksheet (pdf). It contains the application
questions in the same order as the Web version. Many find this worksheet helpful to:
- Learn what types of questions are asked.
- Get familiar with the requested information and documents.
- Saves time. When students are ready to submit the FAFSA online,
all the required information is ready to be keyed in.
Paper FAFSA
The FAFSA is still available in a paper format for students and
families who don't have access to a computer or feel uncomfortable
submitting their personal information via the Internet. Funding
amounts students will be offered are the same whether they submit
the FAFSA online or on paper. However, processing time can increase by two weeks.
To request copies of the paper FAFSA (English or Spanish available)
contact:
Federal Student Aid Information Center (FSAIC)
PO Box 84
Washington, DC 20044
1-800-4-FED-AID (1-800-433-3243)
TTY 1-800-730-8913
Information Needed to Complete
the FAFSA
Student Information
- Student and parent Social Security numbers
- Driver’s license or state ID number Alien registration (if non U.S. citizen)
- Marital status (single, divorced, etc.)
- Enrollment status
- Degree or certificate you will be working on
- Previous year’s tax Information or tax returns, including W-2 Records of untaxed Income (welfare, veteran benefits, etc.)
- Information on savings, investments, business, and farm assets.
- Number of people In household
- Email addressesarital status
Selected for Verification?
Each year, the federal government randomly selects 30% of ALL
students submitting the FAFSA for verification. Verification is
a process used to ensure that the information students report
on the FAFSA is accurate. Most applications are selected at random;
others because of inconsistent information. Students can expect
to receive notification that they were selected for verification
10-14 business days of receiving their Student Aid Report (SAR)
from the Federal processors.
NO federal financial aid will be awarded until verification is
completed, discrepancies are resolved, and the necessary corrections
are submitted and processed by ED.
Guidelines for students completing the verification process:
- Marital status
- Carefully observe verification deadlines.
- Complete all sections of the Verification Worksheet. View
sample Verification Worksheet.
- Sign the Verification Worksheet and tax returns.
- Keep copies of all documents submitted during the verification
process.
- Do not send anything except the FAFSA to the Federal processor.
If attachments are received with the FAFSA, they will shred
them.
- Save valuable time, direct any questions to the college's
financial aid office.
Verification prevents ineligible students from receiving aid
by reporting false information and ensures that eligible students
receive all of the aid for which they are qualified.
Completing the FAFSA: Step by Step
On average, it takes one hour to complete the FAFSA if all the
necessary information is on hand. Students will want to complete
the form with their parents if they are considered dependent.
1) Know school application deadlines. When in doubt, check school
brochures or contact the financial aid office.
2) Gather information from the following documents.
- Student Driver's License and Social Security Card.
- Income Tax Return. Not required to file a return? Use W-2s
and other records to total earned income.
Dependent, include financial information
for student and parents.
Independent, report student's financial
information (and spouse's, if married).
If a tax return has not been completed by the time FAFSA
is completed, back up the information with the W-2 forms
and other supporting documents.
3) Read instructions carefully and save documentation, particularly
questions related to income. Random applications are selected
for verification. If financial data on the FAFSA is found to be
incomplete or inaccurate — especially when compared to tax
returns — families will be asked to provide documentation.
4) When students apply for Federal Student Aid (FSA) programs,
ED verifies certain information with the following federal agencies:
5) List up to six schools where financial information should
be sent.
6) Make and save copies of completed FAFSA and all financial
documents in case the school requests verification of the financial
data provided.
7) If it's after January 1, submit the FAFSA.
Financial Aid Deadlines
Federal
Students should file the FAFSA as soon as possible after January
1 of the year in which federal financial aid will be needed. But
not too early. If the FAFSA for the coming academic year
is submitted earlier than January 1, it will not be processed.
State
Most states have deadlines for submitting applications for state
financial aid. These deadlines may coincide with the federal deadline
or may be up to one year before it. The state deadlines are printed
on the front of the FAFSA.
View
state deadlines.
Institutional
Most school deadlines are even earlier than the corresponding
state and federal deadlines. These dates are available in school
brochures or by calling the Financial Aid Office.
FAQs for Students
What if I have information that doesn't fit on the FAFSA?
Do not write any extra information on the form, as it may delay
processing and result in your form being rejected. If you have
special circumstances that may affect your Expected Family Contribution
(EFC), contact your Financial Aid Officer.
What if my parents are divorced?
If your parents are divorced, the form should be completed with
information from the parent with whom you lived for the majority
of time during the past 12 months. If the parent providing information
has re-married, your stepparent's information is also required.
Do I need a PIN?
It is recommended you apply for a PIN. The PIN allows you to complete
electronic applications without having to submit a signature page.
You are not required to have a PIN to complete a FAFSA, however,
it is the fastest way for you to sign your application and have
it processed. The PIN also allows access to your US Department
of Education information on the Internet.
You can request a
PIN electronically. If you do not have an e-mail address,
ED will send you a PIN through regular postal mail in approximately
7-10 days.
Can a student and parent share the same PIN?
No. Students and parents cannot share the same PIN. Each must
each have their own PIN. If you or your parents need a PIN, have
lost or forgotten your PIN, or think someone else knows your PIN,
request a new one online.
I submitted two applications for the same year. What will
happen?
ED uses only the first application received. All subsequent applications
are deleted. If you made an error on your application, wait for
your Student Aid Report (SAR) to arrive in the mail. Make necessary
corrections on this form and mail it back.
Is filing via the Web really faster?
Electronic filing is faster than filing a paper FAFSA.
The process may be as much as 7-14 days faster if you use your
PIN to electronically sign your application as soon as you complete
it. Submitting your FAFSA using FAFSA on the Web eliminates delays
that can occur from mailing. Also, FAFSA
on the Web edits your application before you transmit it,
ensuring that the application you transmit to the US Department
of Education is ready to be processed.
How do I answer the tax questions if I (or my parents)
don't file a tax return?
If you will not file a tax return, you should answer Will Not
File to question 36 (Have you completed a tax return?). You will
then be taken to question 42 (Income earned from work), where
you should enter any money earned from a job that is listed as
taxed on a W2 form. Then answer only those income questions that
apply to you from that point on. If your parents will not file
a tax return, respond to question 71 (Have your parents filed
a tax return?) the same way.
Why do I need a Federal School Code?
If you want to apply for federal financial aid using a FAFSA on
the Web application, you must enter at least one Federal School
Code in the "School" section of the application. These
codes allow institutions to have electronic access to your FAFSA
application data to calculate your federal financial aid package.
If I want to apply to more than one school, should I send
more than one FAFSA?
No. You can select up to six schools to receive your FAFSA data
by listing them on your application.
Can I fax the FAFSA on the Web signature page?
No. By law, ED requires valid signatures to accompany any application
for student financial aid. Faxes are not an option since the signature
would be a facsimile of a signature, and therefore not valid.
When will schools receive my application information?
Any school(s) you listed on your FAFSA will receive a copy of
your Student Aid Report (SAR) electronically three days after
your application and all required signatures have been received
and processed.
If I don't receive my Student Aid Report (SAR) within
two weeks, should I reapply?
No. Before reapplying, call the Federal Student Aid Information
Center 1-800-4-FED-AID (1-800-433-3243) and ask if the US Department
of Education has your FAFSA on file.
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