What is the FAFSA?
The FAFSA (Free Application for Federal Student Aid) is the application students must complete to apply for any federal student financial aid. This aid includes federal grants, work-study funds and student loans. While the FAFSA was created to determine students’ eligibility for federal financial aid, many other financial aid granting organizations such as colleges, states and scholarship organizations use it to determine need-based awards.
When should I submit the FAFSA?
Students can complete the FAFSA as early as the first of January. It is recommended that students complete it as soon as possible because many grants (financial aid that does not have to be repaid) are distributed to qualified applicants on a first-come first-serve basis, students who complete their applications earliest may be awarded a greater proportion of grant money in their financial aid package.
How often do I have to submit a FAFSA?
Students must submit a new FAFSA each year. It is always available on the first of January.
How do I submit the FAFSA?
Students can complete the FAFSA online or by mail. The greatest advantage of submitting applications online is that they are processed more quickly than mailed-in applications. Another benefit to completing FAFSA online is common mistakes are flagged to prevent students from making those mistakes before submitting.
Students who chose to submit their applications by mail can either print off a PDF version of the FAFSA website or request a paper copy.
Where do I find the FAFSA
The FAFSA can be found online at http://www.fafsa.gov. Students must be careful to go only to the government website (the site ending in “.gov”). Sites with similar names, but ending in “.com” may charge a fee for submitting the FAFSA.
Students who prefer to have a paper copy of the FAFSA mailed to them can call the Federal Student Aid Information Center. The phone number for the center is 1-800-433-3243.
What documents and information do I need to have to complete the FAFSA?
- Driver’s license number
- Social security numbers of student and parents (if student is dependent)
- Contact information for student and parents (if student is dependent)
- Alien registration number (if applicable)
- Federal tax return for students and their parents of depend students (Students can estimate their families income if a tax return is not available. The income information may be verified and adjusted at a later date)
- Bank statements and other financial information
- Records of untaxed income
How is financial aid determined?
Financial aid awards are based on the Expected Family Contribution (EFC). The EFC is determined using a formula established by law that measures families’ finances. It is not a measure of the families’ actual contribution to the students’ education.
Do I have to include my parents’ income?
Students who are considered dependent must report information about both their finances and their parents’ financial information. Dependency for financial aid purposes is determined by criteria set specifically for the FAFSA, not based on parental support nor based on tax dependency. For specific determination criteria, students should visit the FAFSA website or see their financial aid counselor at the college they attend or plan to attend).
Which parent do I list on my FAFSA?
Students who are considered must list information for at least one parent on their FAFSA. If the student’s parents are married to each other then both parents must be listed. Students of divorced or never-married parents must list the parent (and stepparent if applicable) they lived with most in the past 12 months. Students who lived an equal time with both parents or who do not live with either parent must the parent and stepparent from whom they received the greatest support.
Students who live with person other than their parents cannot list that person’s information unless they legally adopted the student. Students in foster care or in a legal guardianship may be considered independent for financial aid purposes.
Students who are unable to get the parent’s information due to situations of abuse or because the parent is unable to be found should contact the financial aid office of the college the student attends or plans to attend.
What if I have special circumstances?
Students who have experienced unusual circumstances that they believe should be taken into account for financial aid purposes can contact the financial aid office of the college they attend or plan to attend. Some examples of circumstances that might be taken into account include the loss of a parent, being laid off from a job or a natural disaster.
