Financial Aid (FAFSA)
What is FAFSA?
The Free Application for Federal Student Aid, or FAFSA, is an application you fill out to determine your eligibility for federal aid money in grants and loans and some need-based scholarships and programs within universities. Even if you do not think you will qualify for aid, it is important to fill out the FAFSA because some schools require it for other funding opportunities.
I am here to help you throughout this process. Below is some general information regarding FAFSA. If you have any issues, questions, or concerns please reach out to me!
**NOTE: The FAFSA is changing this year! "Better FAFSA" will be bringing some new changes to the federal aid application and award process. Because of this, FAFSA will be releasing later in the year this year, not on October 1st. Please be patient, this year's FAFSA will be a learning experience for everyone! I will update you on the process and release date as soon as I get the information. Click here to read about the changes.
Also, please know that signing and submitting the FAFSA does not commit you or your parents to anything! You are not required to take out loans or accept anything. The FAFSA simply tells you what you're eligible for and gives the schools you're applying to your information for need-based scholarships.
Steps to Complete
Create an FSA ID (login for FAFSA) for the student and all parents/guardians who will be contributing on the FAFSA.
Click here for the website
Do this ASAP! The system takes a few days to process your FSA ID creation.
Gather all necessary information (see drop down below for details)
Fill out the FAFSA at https://studentaid.gov/
Click here for resources and helpful sheets!
If you're struggling or have questions, please reach out to me! I am here to help!
*The information below is subject to change*
What information do I need?
From the FAFSA website:
"Your Social Security number (it’s important that you enter it correctly on the FAFSA form!)
Your parents’ Social Security numbers if you are a dependent student
Your driver’s license number if you have one
Your Alien Registration number if you are not a U.S. citizen
Federal tax information, tax documents, or tax returns, including IRS W-2 information, for you (and your spouse, if you are married), and for your parents if you are a dependent student*:
IRS Form 1040
Foreign tax return or IRS Form 1040-NR
Tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia, or Palau
Records of your untaxed income, such as child support received, interest income, and veterans noneducation benefits, for you, and for your parents if you are a dependent student
Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (but not including the home in which you live); and business and farm assets for you and for your parents if you are a dependent student"
You'll also need your and your parents' FSA IDs to sign and submit the form. All contributors must sign the FAFSA to submit the form and make you eligible for aid.
*NOTE: For the 2024-2025 FAFSA form, you will need to reference your 2022 tax information.
What is an FSA ID and how do I make one?
The FSA ID is your login information for FAFSA, and allows students and parents to identify themselves electronically to access Federal Student Aid websites. It also allows you to electronically sign your FAFSA, which is necessary for submission.
Visit fsaid.ed.gov to create your FSA ID.
Students and their parents/guardians MUST each create an ID.
Do NOT use your high school email address. Use a personal email. You will need to access this every year while you are still in college.
Can I fill out the FAFSA if my parent/guardian does not have a Social Security Number?
Yes! Your parent/guardian does not have to have a Social Security Number (SSN) for you to complete FAFSA.
Your parent will still be able to make an FSA ID without a SSN.
There might be some extra verification you and your parent will have to complete, but the FAFSA is still doable!
Click here for more information.
What do I do if I'm selected for verification?
Do not worry if you are selected for verification. Make sure you look out for emails from colleges about verification as they will request additional documents that support the information you reported on the FAFSA.
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 requesting additional documentation to corroborate the information reported and authenticated by the applicant (you) and/or your parents
Why is verification important?
In order to secure the federal funding pool, the Department of Education must take steps to ensure that aid is being awarded in the appropriate way.
Please note that financial aid packages can change once verification is complete.
Aid can and will be lost if verification requests are not fulfilled.
How do students know if they were selected for verification?
Students can see whether they are selected for federal verification after submitting the FAFSA and reviewing the Student Aid Report (SAR). There will be an asterisk (*) by your SAR
In addition, colleges may contact the student via mail, e-mail, or portal to ask for verification materials at ANY TIME during the financial aid process
Some colleges may list that they select all students for verification and the necessary documents on their website
What documentation may be required?
A tax return transcript
A signed statement to confirm the number in the student’s family and where any other dependents may be attending college
All W-2’s received by the student and parent(s)
A signed statement to certify that any Federal student financial assistance received will only be used for educational purposes and to pay the cost of attending school
Bottom line:
● More and more colleges have started asking for verification from 100% of their students, to ensure that they are consistent in their verification process.
● Financial aid offices encourage students to be vigilant on checking up on their financial status -- students are encouraged to call school financial aid offices and ask if their financial aid file is complete.
e.g. “Hello, my name is ____. I have been accepted into (or I have applied for) freshman admissions, and I just want to make sure my file is complete. Could you please let me know if anything is missing?”
I'm finished, now what?
First of all, congratulations! Completing the FAFSA can be overwhelming, but you did it and now you are one step closer to college! Now come see me and tell me you completed it, or shoot me a message so we can celebrate :)
After you submit the FAFSA electronically, you will receive an email confirming your submission. If you don't get this email, let me know ASAP.
The FAFSA information will be sent to the schools that you listed while completing the form. Schools that you are admitted to will then send you a Financial Aid Award letter. This letter will tell you the exact amount of grants, scholarships, and loans that you can expect to receive from the institution as well as any federal aid you will receive, such as Federal Pell Grants. In most cases, this letter will not include any outside scholarships you have received from community organizations, the school, or businesses.
Types of Aid:
Pell Grant: This is for students who are seen as having financial need through their FAFSA. Students can receive up to $7,395 to pay for school each year. This money that does NOT have to be paid back.
Direct Subsidized Loan: This loan does not accrue any interest while the student is in school. It has a lower fixed interest rate and flexible repayment options for the student after they graduate college.
Direct Unsubsidized Loan: This loan begins accruing interest as soon as the student takes it out. It has a lower fixed interest rate and the student does not have to make payments while they are still in school.