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Financial Aid is an important part of funding your education and future! Check out more information below on financial aid and the steps for applying.
Different Types of Aid
Different Types of Aid
Gift Aid
Financial aid that does not need to be repaid. Gift aid can come in the forms of: scholarships, grant, or a tuition waiver!
When receiving this type of aid you should read the information closely so as to know whether it is for one year of school or renewable, and if there is a minimum GPA that the student must keep, or any other requirements to be eligible to receive the money.
Loans
Money that is based on financial need and will have to be paid back.
Two kinds of loans:
Subsidized Loans: Will not have to pay interest on while you are in college
Unsubsidized Loans: Not need based and require payments including while you are in college
Work Study
This may be included in a financial aid award from a school. The amount listed will be the maximum amount you are able to earn working in an on campus position. The money earned will go to the student as a pay check (as opposed to being deducted from tuition or costs owed).
Students often use this money to pay for books or other necessities that they may buy at the store, or as their personal spending money during college.
Make sure to research your options in work study options for students, there may be options within your major or based on your involvement in high school! (Ex. sports)
What do all of these types of aid have in common? All require students and parents to fill out and complete the FAFSA! In order to receive federal aid, aid for colleges, as well as some local scholarships, students will have to complete the FAFSA!
Free Application for Federal Student Aid ( FAFSA)
The FAFSA is an online application that uses personal and financial data that the federal government uses to determine your family's ability to pay for college. Filing the FAFSA is the first step to paying for college.
The FAFSA is important to students in many different ways. Here are some examples:
-Allows students to access federal money, like the Pell Grant or Stafford Loan, and state or institutional money.
- Opening doors to some scholarships. In order to get financial aid from colleges (including some merit aid) you have to submit this application.
- Colleges use the FAFSA information to determine if the student qualifies for state or institutional aid. Students will receive different “aid packages” depending on the school.
The FAFSA is based on income eligibility. The entire application is completed online and should take about 20 minutes with the proper tools.
Many families choose not to file the FAFSA because they believe they will not receive financial aid. Though this may be true for some families, the FAFSA is an important application for several other reasons. The FAFSA allows the student to be considered for institutional aid, which is separate from federal money, and certain scholarships. Several local scholarships that become available in the Spring will require that the student have already filed a FAFSA.
Even if your results from the FAFSA do not qualify you for aid, the application is 100% free. If a site is asking you to pay for it then it is a scam and not the official FAFSA application.
Creating a StudentAid.gov Account
Creating a StudentAid.gov Account
The first step to applying for FAFSA is creating a StudentAid.gov account. I attached a graphic to the left that helps students determine who needs to create a StudentAid.gov account.
To the left is another graphic explaining if your parent is a contributor to the FAFSA form.
Steps for Applying to the FAFSA
Steps for Applying to the FAFSA
Step 1: Creating a StudentAid.gov Account
Before making a StudentAid.gov account, please keep the following in mind:
All students must have a Social Security Number to apply. If you do not have one, you should consider applying for the VASA.
You will need different emails for birth parents and students in order to make the StudentAid.gov account.
If contributor does not have an SSN, there is still a way to get an FSA ID
All contributors must create an StudentAid.gov account in order to complete the FAFSA
Students should NOT use their school email (go-panthers) or work email to create their account. Email should be personal and one that is used frequently and/or checked regularly.
What is a Contributor?
Contributors is a new term that was released for the 2024-2025 FAFSA
A contributor is anyone required to provide information, a signature, and consent and approval to have their federal tax information transferred directly from the IRS into the FAFSA form.
Information provided by contributors will be used to determine your eligibility for federal student aid. Contributors are in no way financially responsible for your educational expenses.
A contributor is the student, your biological/ adoptive parent, your spouse and/or your parents spouse.
Go to studentaid.gov/create-account (you will be creating the student and parent FSA I.D.s separately)
Create a student username and password
Enter Contact Information and select communication preferences
Answer 4 security questions for student account
Review and confirm
Verify your email.
How to Verify Your Email and text
You will receive an email/ text message to verify both email and phone number
File the FAFSA-2025-2026Step 2: Filing the FAFSA
See document to the left with full instructions on filing the FAFSA.
Step 3: FAFSA Submission Summary
The FAFSA submission summary is new from the 24-25 FAFSA. To view your FAFSA submission summary, you can log into your StudentAid.gov account to view. This will give you an overview of your FAFSA submission and an overview of what you qualify for. This is separate from a financial aid package from a school and does not constitute as one.
Step 4: Verification & Appeals (if needed)
** Check your email and student accounts OFTEN to make sure you are not missing any required financial aid documents to be considered. **
This step may be skipped/ not needed. Make sure you are checking your emails regularly to see if you are selected.
What is verification?
Verification is the process that schools use to confirm that the data reported on an applicant’s FAFSA is accurate.
It may involve additional documentation to corroborate the information reported and authenticated by the applicant (and, if dependent, the applicant’s parents).
Students can be selected for verification by the school or by the US Department of Education.
Verification cannot be completed until your most recent tax returns are filed.
CSS profile info 25-26CSS Profile (not required for all schools)
CSS Profile (not required for all schools)
The CSS Profile is another financial aid form that some schools require in addition to the FAFSA. It is important that you are aware of schools that require the CSS Profile, because if you do not submit that form as well you will not be able to receive financial aid!
Schools in VA that require the CSS profile: William and Mary, UVA, Washington and Lee, University of Richmond, Patrick Henry College, and Christendom College.
See the document attached more more info.
Priority Deadlines in VA
Priority Deadlines in VA
Just like college applications, schools have preferred deadlines for when they like to have financial aid applications in. Submitting FAFSA and/or CSS on/before these dates can help maximize your financial aid package. It is still recommended to submit these forms even after the deadline as well.
It is always recommended to check this information directly on the school's financial aid website as well on deadlines.
Award Package
Award Package
Award Letter Comparison Tool: Make a copy of the google sheet below to compare your financial aid packages from your schools you apply to.
Copy of Negotiating Your Financial Aid Package.docxNegotiating your Financial aid package: Dos and Don'ts
This document provides tips on how to go about asking schools for more money and making decisions about packages.
Students should be the one contacting schools' financial aid offices (parents and/or others can be there to support of course!) Ms. Wiggins can also help as well.
Payment Plans:
Many schools offer a Payment Plan, where you split up the amount due over the course of the semester. Each school handle's theirs differently and you are encouraged to google "school name tuition payment plan" You should closely read through what is available from the school to see if it would be a good fit for you/your family.
So Payment Plans may include a fee to start it, interest, signing up by a certain deadline etc.
VASA
VASA
Virginians who have certain nonimmigrant visas, are undocumented, have Deferred Action for Childhood Arrivals (DACA) status or are otherwise ineligible to file a FAFSA should consider filing a VASA, or Virginia Alternative State Aid application.
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