FAFSA Fast Facts
- FAFSA = Free Application for Federal Student Aid
- It’s FREE!
- Complete online at fafsa.gov
- Only need to submit one FAFSA for all colleges
- Gateway to financial aid – all federal aid is determine through FAFSA, but state and institutional (colleges/universities) aid can also be awarded based on FAFSA
- Money is disbursed on a first come, first serve basis – it’s important to file early!
- No “deadline,” but families are encouraged to complete the FAFSA by March 1 to be eligible for State Aid
- FAFSA for 2018-2019 is available now!
FSA ID – Your start to filing the FAFSA
The FSA ID is a username and password system that allows students/parents to electronically file and complete the FAFSA form
The FSA ID replaced the FAFSA PIN for all students/parents/borrowers in May 2015
Students, parents and borrowers will need to create, individually, a FSA ID
A different email address is needed for each FSA ID
All communication from the US Department of Education will go directly to the email associated with a FSA ID
Get your FSA ID as soon as possible: fsaid.ed.gov
The FSA ID replaced the FAFSA PIN for all students/parents/borrowers in May 2015
Students, parents and borrowers will need to create, individually, a FSA ID
A different email address is needed for each FSA ID
All communication from the US Department of Education will go directly to the email associated with a FSA ID
Get your FSA ID as soon as possible: fsaid.ed.gov
What Information is needed for the FAFSA?
Directly from www.studentaid.ed.gov:
- Social Security number (it’s important that you enter it correctly on the FAFSA!)
- Your parents’ Social Security numbers if you are a dependent student (most students are)
- Your driver’s license number if you have one
- Your Alien Registration number if you are not a U.S. citizen
- Federal tax information 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 1040, 1040A, 1040EZ
- Foreign tax return and/or
- 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 non-education 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
Who is considered an independent student?
From www.studentaid.ed.gov:
An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse, an emancipated minor or someone who is homeless or at risk of becoming homeless.
An independent student is one of the following: at least 24 years old, married, a graduate or professional student, a veteran, a member of the armed forces, an orphan, a ward of the court, or someone with legal dependents other than a spouse, an emancipated minor or someone who is homeless or at risk of becoming homeless.
Common Errors on the FAFSA
As written by Mike Pugh on Fastweb.com:
- Use the 1040 federal tax return for income reporting and reporting taxes paid. Some parents and students mistakenly use their W-2 form.
- If student’s parents are divorced, the parent the student lived with the most during the past calendar year should be the parent whose income and tax information is reported. Make sure students include step-parent’s information.
- Students should include themselves in the household size.
- As with all forms and applications, make sure you read the instructions and questions carefully.
- If you’re unclear about a question or are having trouble filling out the FAFSA, check the FAQ section on the FAFSA website, or call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243), or visit a local financial aid event.
For more specific information about FAFSA and the financial aid process, call the Financial Aid Office at SC4 at 810.989.5530 or visit their website at www.sc4.edu/financialaid.
