This page this is a list of what to do now that you are well informed about the financial aid process.
1. Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov.
2. About two weeks after submitting your FAFSA, you will receive by mail or e-mail a Student Aid Report that lists your FAFSA information and instructions on how to make needed corrections.
3. Make any needed corrections to your FAFSA as soon as possible.
4. Wait to receive a Financial Aid Award Letter from the colleges you listed in section 5 of the FAFSA. This could take a few weeks and will be sent to you by mail or e-mail.
5. Compare the Financial Aid packages from each college to determine which best meets your needs.
6. Follow the directions on your Financial Aid Award Letter to accept the offers you would like to receive.
7. Your college will continue to walk you through the next steps in finalizing your financial aid award.
To complete the FAFSA you will need the following documentation:
1. STUDENT’S Social Security Number (and PARENTS’ if they have one). If your parents do not have a Social Security Number, enter 000-00-0000 for there social security number on the FAFSA.
2. PARENTS’ Most recent records of income (and STUDENT’S if they have them), such as income earned from work and business, child support paid or received and any other untaxed income. W-2 Forms or Federal Income Tax Return IRS 1040, 1040A or 1040EZ.
3. PARENTS’ and STUDENT’S Information about assets, such as savings, certificates of deposit, stock options, bonds, 529 plans and other college savings programs; and investment real estate, business and farm.
4. STUDENT’S Driver’s license number, if you have one.
5. PARENTS’ and STUDENT’S Dates of birth, include the month, day and year.
6. PARENTS’ Month and year of marriage, separation, divorce or other change in marital status, whichever is most recent.
7. STUDENT’S Alien Registration Number, if you are not a U.S. citizen.
Tips on completing a FAFSA.
1. The FAFSA for 2015-2016 is now available. Complete your FAFSA as soon as possible to increase your chances for a large financial aid package. Some forms of financial aid have limited funds and do run out of money.
2. Male applicants 18 years old must register with the Selective Services System to complete their FAFSA. This is the done at the following website: www.sss.gov.
3. You will need your 2014 tax return. If this is not yet available, enter an estimate of your 2013 income. You will be required to enter your actual 2014 income at a later date.
4. Follow these instructions if you would like your FAFSA information sent to more colleges than can fit in Step 6 of the FAFSA. Enter as many college codes as can fit in Step 6 and submit your application. Then go back into your FAFSA application and enter new college codes in Step 6 and resubmit. This will ensure your FAFSA information is sent to all the colleges you want.
Tips on divorced parents.
1. Not sure which parents' income to enter? The parent income to enter on the FAFSA is usually the income of the parent you live with.
2. If you live with a parent and a step-parent, then you must combine both their incomes and enter it on the FAFSA. If the government learns that you did not enter a combined total, you may be subjected to a repayment plan.
3. You must enter your parents' current marital status at the time of the submitting your application. If they are planning to get divorced soon but are still legal married when you submit your FAFSA, then you must label them as married. This cannot be changed or updated later.