Completing the FAFSA

Just about every college applicant will qualify for some type of financial aid from the government.  In order to find out what you qualify for, you need to complete the Free Application for Federal Student Aid (FAFSA). This is the application that can be completed annually to determine your eligibility for many scholarships, grants, work-study programs, and education loans. 

Where do I get the FAFSA?
There are two ways to complete the FAFSA (online vs. paper).  Below is a list of sources where you can get both versions of the FAFSA:

Paper Version: Students and their families can request up to three copies of the paper FAFSA (in English or Spanish) by calling the Federal Student Aid Information Center (FSAIC) at 1-800-FED-AID (1-800-433-3243).

Online Version: You can go to the U.S. Department of Education’s FAFSA website.  We highly recommend the online version.  It can save you time, it’s easier, plus the online version will look for incomplete or conflicting information before you submit it!

What do I need to apply?
You’ll need to have the following information before you start your FAFSA:

• Your Social Security Number and your parent’s Social Security Number if you are claimed as a dependent;
• Driver's license (if any);
• Alien registration card (if you are not a U.S. citizen);
• Federal Income Tax Returns (including IRS W-2 information) for yourself and your parents if your are claimed as a dependent;
• Information on savings, investments, and business or farm assets for yourself, and for your parents if claimed as a dependent;
• Untaxed income records, such as Social Security benefits, welfare benefits and veterans benefits for yourself and your parents if claimed as a dependent;

Note: Independent students are not required to provide parent information. You can check with your Financial Aid Office to find out if you qualify as an independent or dependent student.

How is Federal financial aid eligibility determined?
To be eligible for financial aid, you must demonstrate the following:

• Financial Need: Except for the unsubsidized Stafford Loan, Grad PLUS and Parent PLUS Loan programs, you must show a financial need.

  Determining Your Financial Need
      Cost of Attendance (COA)
  -   Expected Family Contribution (EFC)
  =  Financial Need 

  Cost of Attendance can be determined by adding up your school’s general costs, which may include: tuition, fees, room and board, books, supplies, transportation, loan fees, dependent care expenses, disability-related expenses, cooperative education program costs, and any other miscellaneous personal expenses. 

The financial information that you report on the FAFSA will calculate your Expected Family Contribution.  To help you determine your EFC, the U.S. Department of Education has provided students and their parents with an EFC Worksheet (2007 – 2008).

• Educational Requirements: You must demonstrate that you have a high school diploma or General Education Development Certificate (GED), passed an approved Ability-To-Benefit (ATB) test, met state standards, been enrolled or accepted for enrollment as a regular student working towards a degree or certificate, and met satisfactory academic progress.

• Legal Requirements: You must be a U.S. citizen or eligible non-citizen, have a valid Social Security Number (SSN), certify that you will use federal student aid for educational purposes only and sign a Master Promissory Note (MPN), and comply with Selective Service registration.

FAFSA Tips:

• You may submit your FAFSA form after January 1st.  If you don’t have your taxes filed yet, you may enter estimated figures on the online FAFSA, save it, and then revise those figures once your taxes are filed. 
• Check with your school for their individual FAFSA deadlines. 
• Be sure to review your FAFSA before submitting – 70% of errors result in lost financial aid that you could’ve received!  
• About two to four weeks after your online FAFSA is processed (four to six weeks for the paper-version), you should receive your Student Aid Report (SAR), a report summarizing your FAFSA information. Colleges will receive copies of your SAR and use it to determine your federal financial aid eligibility. 
• Don’t give up searching for scholarships.