Applying for Financial Aid
Don’t let the cost of college stop you from getting a degree. There are ways to cover the cost, including financial aid. Take these steps to start the process.
Create an FSA ID
To begin the process of applying for financial aid, create a Federal Student Aid account (FSA ID) at studentaid.gov. Your parent will also need an FSA ID if you’re a dependent student.
Complete the FAFSA
The FAFSA (Free Application for Federal Student Aid) is your application for federal, state, and college-based financial aid. Complete the form at studentaid.gov in the fall of each year. The colleges you list on the FAFSA will use your information to award financial aid.
Submit the form before the colleges’ FAFSA priority date to get the best financial aid offers. Use our free FAFSA Tools to help you prepare for and complete the form.
Renew the FAFSA every year you’re in college.
Expect a FAFSA Submission Summary
After you submit your FAFSA, expect a FAFSA Submission Summary (FSS) via an email from Federal Student Aid. The FSS indicates your Student Aid Index (the number a college uses to determine how much financial aid you can receive), your eligibility for a Pell Grant, and if you were selected for verification. Some need-based scholarship applications will also require your FSS.
Be Prepared for Verification
Watch your student portal and email closely, as colleges may request verification of your FAFSA information. Respond to this request quickly, as the colleges will not process your financial aid offer until you provide the required documents.
Expect Financial Aid Offers
The colleges you listed on your FAFSA will notify you of the types and amounts of financial aid they offer. You will only receive offers from colleges that accepted you for admission. Accept or decline the financial aid offers by the deadline.
The colleges will use this “financial need” formula to calculate how much to offer you in financial aid:
Cost of Education – Student Aid Index = Financial Need
Use this tool from Federal Student Aid to estimate how much federal financial aid you are eligible to receive.
Apply for Student Loans
If you qualify for student loans, your college will direct you to studentaid.gov to complete the necessary forms. Depending on your financial need, you might receive a Subsidized Direct Loan (interest begins accruing after college) or an Unsubsidized Direct Loan (interest begins accruing immediately). Your college determines the amount you can borrow.
You must repay your student loan after you graduate or drop below half-time status. Click here for details about loan limits, interest rates, and repayment.
*Remember that FAFSA stands for Free Application for Student Aid and there will never be a charge for filling it out. If you are filling forms out and asked for a payment you are not in the correct website.
FAFSA: New High School Graduation Requirement
What is the new state law?
Starting with the class of 2025, Nebraska law requires all public high school students to complete and submit a FAFSA (or actively opt out) as a graduation requirement. This is known as Universal FAFSA.
Why does this law exist?
Universal FAFSA ensures that all Nebraska seniors complete the FAFSA, unlocking federal financial aid and encouraging them to consider further education beyond high school.
Why is completing the FAFSA a graduation requirement?
Completing the FAFSA informs students about their financial aid options, enabling them to make smarter decisions about their post-secondary education.
How will this benefit Nebraska students?
In 2022, half of Nebraska graduates didn’t file the FAFSA, missing out on an estimated $23 million in aid. This initiative helps reach the goal of 70% of Nebraskans earning a diploma, degree, or industry credential by 2030.
Where can I direct questions about Universal FAFSA?
Contact the Nebraska Department of Education:
https://www.education.ne.gov/fafsa
Lincoln 402.475.5222
Kearney 308.234.6310
Scottsbluff 308.708.7199
Omaha 402.391.4033
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