The application opens on October 1 and you will have to complete the application each year you are in college. The priority deadline is March 1 but institutions may have different deadlines. Pay attention to the colleges you are applying to and their specific deadlines. The sooner you fill out the FAFSA the better.

Prior to the FAFSA opening, you can begin to gather the documents you will need to make the process easier and ensure you complete it as soon as possible.

Student information:

• Social Security Number or Alien Registration Number

• 2021 income tax refunds (if filed), W-2, and any other documents that may report income or money earned

• FSA ID to electronically sign

Parent information:

• Social Security Number or Alien Registration Number

• Parent Birthday

• Date of marriage, separation, or divorce if applicable

• 2021 income tax refunds, W-2, and any other documents that may report income or money earned

  • If applicable: bank and investment information and records of untaxed income

• FSA ID to electronically sign

The FSA ID allows students and parents to identify themselves electronically to access Federal Student Aid websites. It also allows you to electronically sign your FAFSA and more quickly get it processed. It consist of a username and password.

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.

Here is a video guide to help you throughout this process: www.youtube.com/watch?v=yj1Pn-shze8

If you are confused about whose information to use when filling out the FAFSA, use this resource: https://studentaid.gov/sites/default/files/who-is-my-parent.png . As always, if you still do not know please reach out to me!

• Yes! Your parent/guardian does not have to have a social security number (SSN) for you to complete FAFSA.

• When FAFSA asks for your parents/guardians' SSN, they must enter 000-00-0000. They will be unable to create a FSA ID or sign the FAFSA application electronically. Instead, you will print out the signature page before submitting the FAFSA application. Then you will mail in that page.

• Click here for more information and answers to common questions.

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 (and, if dependent, the applicant’s parents).

  • Students can be selected by the school or by the US Department of Education.

  • Verification cannot be completed until your most recent tax returns are filed (for the 2023-2024 FAFSA that would be 2021 Tax Returns).

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.

• If you are asked to complete verification, it must be completed before the student’s account can be credited with financial aid.

• Please note that financial aid packages can change once verification is complete.

  • Similarly, aid CAN and WILL be lost if verification requests are not fulfilled.

Who gets selected for verification?

• Students may be flagged by the US Department of Education for federal verification or by the college for institutional verification

• Data-based statistical analysis, discrepancies or a condition is present which is unusual and warrants investigation within the information on the FAFSA

• If a student/family does not use the IRS Data Retrieval Tool (if eligible) they will be selected for verification

• If a student/family uses the IRS Data Retrieval Tool but then goes back into the FAFSA and changes things manually they will automatically be selected for verification

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 does verification do?

• The majority of students selected for any type of verification see no EFC change

• Of those selected for tax verification, about 42% see a change in their EFC

• Majority of students see an EFC change between $1-1000; while this does not seem like a lot at face value, it can be the difference between being eligible or ineligible for Pell Grant

What documentation may be required?

• A tax return transcript, or successful usage of the IRS Data Retrieval Tool (DRT)

• 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?”

First of all, congratulations! Completing the FAFSA can be overwhelming, but you did it and now you are one step closer to college!

• After you submit the FAFSA electronically, your Estimated Family Contributed (EFC) which is the amount of money that a family is deemed able to contribute to their student’s college education.

• The EFC, along with the results of the FAFSA, will be sent to the schools that you listed while completing the FAFSA. 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.

  1. 1. 1. • Pell Grant: This is for students who are seen as needing financial need through their FAFSA. Students can receive up to $6,895 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.