FAFSA
FEDERAL STUDENT AID
Financial aid from the federal government to help you pay for education expenses at an eligible college or career school. Grants, loans and work-study are types of federal student aid. You must complete the FAFSA to apply for this aid.
FSA ID
An FSA ID is a username and password that gives you access to Federal Student Aid's online systems and can serve as your legal signature.
Before starting the FAFSA (Free Application for Federal Student Aid), the student and one parent may complete their own FSA IDs.
The student and parent will need their own email addresses to set up the account.
Free Application for Federal Student Aid (FAFSA)
The FAFSA questions ask for information about you (your name, date of birth, address, etc.) and about your financial situation. Depending on your circumstances, you might need the following information or documents as you fill out the application:
Your social security number
Your driver's license number if you have one
2018 Taxes including W-2s (student and parents if both have worked)
Records of your un-taxed income
Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (not including the home you live in)
HERE ARE SOME FINANCIAL AID TERMS AND DEFINITIONS TO ASSIST YOU TO BETTER UNDERSTAND THE PROCESS.
FEDERAL STUDENT LOAN
A loan funded by the federal government to help pay for your education. A federal student loan is borrowed money you must repay with interest.
SUBSIDIZED LOAN
A loan based on financial need for which the federal government generally pays the interest that accrues while the borrower is in an in-school, grace, or deferment status, and during certain periods of repayment under certain income-driven repayment plans.
UNSUBSIDIZED LOAN
A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan.
FEDERAL WORK-STUDY
A federal student aid program that provides part-time employment while the student is enrolled in school to help pay his or her education expenses. The student must seek out and apply for work-study jobs at his or her school. The student will be paid directly for the hours he or she works and the amount he or she earns cannot exceed the total amount awarded by the school for the award year. The availability of work-study jobs varies by school.
FSA ID
The FSA ID is a username and password combination that serves as a student’s or parent’s identifier to allow access to personal information in various U.S. Department of Education systems and acts as a digital signature on some online forms.
GRANTS AND SCHOLARSHIPS
Financial aid that doesn't need to be repaid. Grants are often need-based, while scholarships are usually merit or performance-based. Grants and scholarships are normally directly applied to your student account and may have certain conditions in order to maintain your eligibility.