About the FASFA Form

financial aid note 2

Students (and parents of dependent students) must submit the government FAFSA Form to start the aid process. The FAFSA is used by colleges and agencies to determine eligible aid amounts, include college scholarship and grant award programs.

The FAFSA form will be required for all Federal Student Loans and many scholarships. It is used by colleges to determine your financial aid eligibility.

You must determine your dependent and independent status before completing the FAFSA form:

See dependent vs. independent status: note 1

  • Dependent Status:
    both the parent and the student MUST complete the FAFSA form to be eligible for financial aid.
  • Independent Status:
    only the student and the spouse, if applicable MUST complete the FAFSA form to be eligible for financial aid.

You may submit the FAFSA form anytime after January 1 in the year you intend to begin school. For example, if you plan to attend school in Fall 2017, you must submit your FAFSA form anytime after January 1, 2017 to about the end of July in order to qualify for financial aid for the academic year coming up.

You should submit your FAFSA form early to meet college financial aid deadlines. The FAFSA form must be completed and renewed each year while you attend school.

What's Needed to Complete the FAFSA

Completing the FAFSA form requires the following records:

  • social security number and driver license
  • alien registration card (if you are not a U.S. citizen)
  • tax returns for the fiscal year that just ended
  • W-2 and 1099 forms
  • records of untaxed income, such as Social Security benefits, AFDC or ADC, child support, welfare, pensions, military subsistence allowances, and veterans benefits
  • current bank and mortgage statements
  • medical and dental expenses during the past year that was not covered by medical insurance
  • business and/or farm records
  • current investment records for stock, bonds, mutual funds, CDs, and money market accounts

    make sure you keep a copy of all these records secure in the event that your college is required to request records for verification

Some schools may require additional forms for the student to become eligible for non-federal financial aid

The CSS Profile form is the most commonly used form for many Private schools. The PROFILE form requires more complete information not generally covered by the FAFSA form —

Contact your college institution to determine whether they require the PROFILE form and any other Financial Aid Application forms.

Link for more information and an application:
information on CSS® Profile and participating schools from collegeboard.com

Steps in FAFSA Form Submission

financial aid note 2

(all links open new win)

Step 1: Get Your FAFSA ID

The FAFSA ID is your personal identification number that lets your apply, sign your online FAFSA, make corrections and perform any other action with the Department of Education.

The ID will be required for all parties completing the FAFSA form. You will generate your ID when you submit your application.

register your FAFSA ID

 

Step 2: Collect the Required Documents

What will be needed to complete the FAFSA

  • your Social Security Number (can be found on Social Security card)
  • your driver's license (if any)
  • your recent year W-2 Forms and other records of money earned
  • your (and your spouse's, if you are married) recent year Federal Income Tax Return - IRS Form 1040,
  • 1040A, 1040EZ, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia or Palau
  • your parents' recent year Federal Income Tax Return (if you are a dependent student)
  • your recent year untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records
  • your most recent bank statements
  • your most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
  • your alien registration number or permanent residence card (if you are not a U.S. citizen)

 

Step 3: Get School Codes

The results of your FAFSA application will be sent to the schools of your choice. Schools will use the information in determining eligible financial aid.

Have your school codes ready when you are ready to complete your FAFSA online:

find your school codes

 

Step 4: Complete the FAFSA Form Online

You may submit the FAFSA form anytime after January 1 in the year you intend to begin school. For example, if you plan to attend school in Fall 2017, you must submit your FAFSA form anytime after January 1, 2017 to about the end of July in order to qualify for financial aid for the academic year coming up.

 

Step 5: Check Your Deadlines

You should submit online your FAFSA form early to meet college financial aid deadlines. When you have everything ready, use your assigned FAFSA ID to begin submission.

 

Step 6: Making Corrections

  • changes to FAFSA form
    to review and make any necessary changes to the FAFSA form: FAFSA web site

    or contact the Federal Student Aid Information Center
    at 1-800-433-3243 if your address has changed.
  • add additional schools to your SAR
    request duplicate copies to be sent to you from the FAFSA form web site (under "Request Duplicate Student Aid Report")

Other FAFSA Form Notes

financial aid note 2

(all links open new win)

Returning studnts seeking financial aid must complete a FAFSA form each year they attend school. Returning students will complete the Renewal FAFSA form — the renewal form updates your previous submitted FAFSA form.

Some colleges may require submission of the FINANCIAL AID PROFILE® form in addition to the FAFSA form:

The PROFILE form is a fee-based form used by select schools to administer their own financial programs.

The PROFILE form requires more complete information not generally covered by the FAFSA form — contact your college institution to determine whether they require the PROFILE form and any other Financial Aid Application forms

Go to: Note3

Begin Side Navigation


Make It Happen!

How?

By building the discipline in four distinct character traits.

1) physical
2) educational
3) social
4) spiritual

Open Module

Making the Move!

college textbooks

What do you need when you move to college?

1) bed sheets
2) toothbrush
3) cooling fan
4) medicine box
5) hand vac
6) plus so much more

Grab our college moving checklist to help you pack for the big move

FREE: Moving Checklist

Save on Textbooks

college textbooks

The cost of college textbooks can run as high as $800-$1,000 or more per semester. So shop around for:

1) new textbooks
2) used textbooks
3) rental textbooks

Shop and compare best deals from multiple online merchants.

Go To Bookstore

Job Center

job center

So what kind of jobs are availabe in your study at college?

Let's take a look to see if opportunities in your field are available and what skills sets you need:

Link to Job Center

Achieving Success

achieve success

Achieving success in life requires 3 key ingredients:

1) planning
2) discipline
3) execution

Open our success module for FREE guides on these key success points.

Open Module

Helpful Tools

tools

How can we help with college planning?

1) planning forms
2) manage money tips
3) job search
4) financial guides
5) calculators
6) plus so much more

Jump over to our tool for college planning and financial decision making.

FREE Tools n' Downloads


From Our "College" Journal