Updated September 2024
The process of applying for financial aid begins December 1 of your senior year. The Free Application for Federal Financial Student Aid, FAFSA, is the first step when applying for aid.
How To Apply
The fastest way to apply is online at www.fafsa.ed.gov When applying online, you will need to obtain your FSA ID. Both student and parent need a FSA ID. When filing online the FAFSA on the Web Worksheet can be a useful tool to facilitate the application. You may obtain this worksheet in the guidance office.
Priority deadline for filing FAFSA is March 1 at most colleges.
The FAFSA will use information gathered from your prior/prior year income tax returns. For example, if you are applying to start college in the 2024/2025 school year, you will use 2022 income tax information.
Who awards Financial Aid?
Information on your FAFSA is computed to determine your SAI (Student Aid Index). Once that is determined, the Financial Aid Office of the college you plan to attend puts together your aid package.. The package may include grants, scholarships, loans, and work/study. You may accept all or any portion of the offer. Your best resource is the Financial Aid Office at your college!! Be sure to contact them early.
Parents/students who want to determine what aid may be available to them can use a free estimating service. Calculators estimate college cost, Estimated Family Contribution for FAFSA, loan information, etc. https://studentaid.gov/aid-estimator/
CSS/Financial Aid Profile
A few colleges require additional information from you (information that is not on the FAFSA). Registration for "the profile" is located at https://cssprofile.collegeboard.org/ As with all services provided by The College Board, there is a fee. Colleges in our area that require this process are UNC-Chapel Hill, Duke University, Davidson College, Elon University, NC A&T University, Wake Forest University. More information is available in Guidance.
Points to Remember
1. Deadlines are important. These will vary from school to school.
2. Keep a copy of everything you sent submit to any school or agency.
3. If a student needs to compare cost of colleges he/she should NOT do early decision.
4. If a student is wait-listed for admissions, he/she should ask college if decision is need-blind or need-sensitive. Ask, "will I get an aid package if I'm on wait list?"
5. Your key question is NOT how much grant money you receive. Rather it is how much your family has to pay and borrow to afford the college.
Read more about the FAFSA process here:
https://studentaid.gov/apply-for-aid/fafsa/filling-out#next-steps