FAFSA
You can apply for financial aid by filling out certain financial aid forms, depending on where you want to go to college and the type of aid you are seeking. However, regardless of where you want to go to college, you should fill out the Free Application for Federal Student Aid (FAFSA).
Free Application for Federal Student Aid (FAFSA)
Your first step in applying for financial aid is completing the FAFSA. By filling out this free application, you are applying for federal financial aid, including grants, work-study, and student loans.
Colleges and universities will also use it to determine how much financial aid they will award you.
The FAFSA asks for information about you and your parents’ finances and your college plans. The easiest place to fill out the FAFSA is on the web at www.fafsa.ed.gov. You may also download a paper version by visiting www.fafsa.ed.gov or request one from you high school.
The FAFSA PIN
Before you fill out the FAFSA on the web, we recommend you and one of your parents get a personal identification number (PIN) at the FAFSA web site. With a PIN, you and your parent can electronically sign the FAFSA. If you don’t get a PIN, you will have to print, sign and mail in the signature page—which will delay the processing of your application. You can use your PIN to make corrections to your FAFSA, view your Student Aid Report (SAR), and file subsequent FAFSAs. Parents may use the same PIN for multiple children.
Important FAFSA Reminders!
1. Do not leave a field blank. Always fill in a zero if a question does not apply to you.
2. Report ALL sources of income, including untaxed income.
3. If current year taxes are not available yet, use the previous year's as an estimate but make sure to update your information as soon as you file the current year's return.
4. If you are a dependent, include yourself in the household size, even if you didn't live in the household the previous year.
5. Make sure that you (and your parents, if you are a dependent) SIGN the application.
6. List all the colleges or universities you are applying to, starting with your first choice.
7. If you are considering a California college or university, be sure to list that school on the FAFSA to make sure you are considered for a Cal Grant. Learn more by visiting www.csac.ca.gov or speak with your high school college counselor.
Beware!
Make sure that you visit www.fafsa.ed.gov, not other web sites that may charge you money to submit the FAFSA. There are a lot of places online, at school, and elsewhere—where you can find free assistance in filling out the FAFSA.
Student Aid Report
Four to six weeks after you submit a paper FAFSA, you will receive your Student Aid Report (SAR). If you completed the FAFSA online, the turnaround time for the SAR is much faster. The SAR summarizes the information you provided on the FAFSA and will tell you if you are eligible to receive a Pell Grant. It will also tell you how much money you and/or your family is expected to contribute to your education. This is called the Expected Family Contribution or EFC. If you do not receive a SAR, contact the Federal Student Aid Information Center at (800) 4FED-AID.
When do I apply?
You should fill out and submit your FAFSA any time after January 1. In general, it is best to complete the FAFSA as early as possible. Remember, you have to apply for financial aid every year that you plan to attend college. Financial aid is awarded on a first come, first served basis. Visit this link to find state deadlines.
http://www.fafsa.ed.gov/before003a.htm#federal_aid
How much financial aid will I get?
Your financial need is determined by subtracting your expected family contribution (EFC) from the cost of attendance at each college you apply. Your school will create a financial aid package designed to cover your financial need. Your financial aid package may include any combination of tuition waivers, grants, scholarships, student employment, and loans.
Basic Eligibility Requirements
To qualify for federal and state student aid, you will need to meet certain eligibility requirements. Below we have listed the most important ones that are common to many of the applications you will fill out.
-Be a U.S. citizen or an eligible non citizen
-Be a California resident (for most California aid programs)
-Demonstrate financial need (You do not have to show financial need to qualify for the unsubsidized federal Stafford student loan or the federal PLUS loan for parents)
-Have a high school diploma or its equivalent
-Enroll as a student in an eligible degree or certificate program approved by the U.S. Department of Education
-Have a valid Social Security number
-Unless exempt, register with the U.S. Selective Service (This applies to men only)
-Maintain satisfactory academic progress
Drug Convictions
If you have been convicted of possessing or selling illegal drugs, it may affect your financial aid. You should complete the Drug Conviction Worksheet to determine if the conviction affects your eligibility. To find the drug conviction worksheet or to learn more, visit www.fafsa.ed.gov or call (800) 433-3243. Even if you’re ineligible for federal aid, you may still qualify for state, college, or private aid, so you should submit the FAFSA.
What Documents do I need before I fill out the FAFSA?
Myth: Sometimes, families mistakenly think they do not qualify for financial aid, so they don’t fill out the FAFSA. As a result, they may lose out on financial aid they are qualified to receive.
On the FAFSA, you must include your and your parents’ financial information from the previous tax year. For example, for the 2007-2008 academic year, you must use 2007 tax returns. When completing the FAFSA, you will need to enter the following information:
-Your and your parents’ U.S. Income Tax Returns for the previous calendar year, along with W-2 and 1099 forms
-Records of untaxed income, such as Social Security benefits, child support, welfare benefits, pensions, military subsistence and allowances, and veteran’s benefits
-Current bank statements and mortgage information
-Medical and dental expenses for the past year that were not covered by health insurance
-Business records
-Records of investments such as stocks, bonds, mutual funds, bank certificates of deposit, and money market accounts
-Social Security numbers
-Driver’s license number
-Alien registration number if you aren’t a U.S. citizen
