Free Application for Federal Student Aid (FAFSA)

How to apply for financial aid:

Students must complete the Free Application for Federal Student Aid (FAFSA) to receive federal and state grants or loans. Create an account (FSA ID and password) and complete the FAFSA at www.fafsa.gov. The FAFSA is typically available to seniors beginning Oct. 1 each year, but for 2024, it opened in January.

Information is posted below to help explain the FAFSA and how to complete it. Families can call 1-800-4FEDAID (1-800-433-3242) for assistance or contact the financial aid office at the college the student will attend. Attend financial aid events in Minnesota as able.

Students should first apply to the college(s) and then complete the FAFSA because the school code of the colleges a student applied to must be entered, allowing the FAFSA data to transfer to the college. Seniors should complete their FAFSA as soon as possible since grant funds are limited and distributed to qualifying students on a first-come, first-served basis. Most financial aid is need-based.

Families use their tax returns to complete the FAFSA. Remember, entering your data (name, address, date of birth, etc.) exactly as it appears on your tax returns is essential so the system can match your information. They highly recommend you import your IRS tax return into the FAFSA site, or you can expect to complete a verification process with the college. Applications not using the IRS tax return import option must be verified using a Tax Transcript: https://www.irs.gov/individuals/get-transcript.

After submitting, the system will calculate a SAI (Student Aid Index) to help families know more about the aid they qualify for. Next, colleges the student applied to will prepare an aid package to cover the cost of attendance. This package often includes grants or scholarships and loans. Sometimes, the college needs more information or a tax transcript, so watch your emails and follow through as needed to make sure your financial aid application is submitted correctly and completed promptly.

Each college uses funds from various sources to create an aid package based on need. If you have special circumstances related to your ability to pay (i.e., loss of a job, death of a family member, medical bills), call the college financial aid office. They can review your needs and assist with individual aid packages.

FAFSA grants and loans are considered the best sources of financial aid. After completing the FAFSA to secure grants (if qualified) and loans, the next best option for aid is a college-sponsored scholarship. Review college websites or contact the financial aid office to determine the scholarships they offer and how to qualify for them. Plan ahead as early as possible! Visit the scholarship pages for more information on scholarships.

Some "NEW FAFSA" information and resources: