FAFSA Facts
What is the FAFSA and why do I need it?
FAFSA (FAF-suh) is an acronym for the Free Application for Federal Student Aid. To request financial aid, you must complete and submit this Federal form. All schools use the FAFSA to determine eligibility for Federal financial aid and most use the official form for determining state and institutional aid. There are a few schools that require you to complete additional forms to receive institutional aid.
When should I complete the form?
The FAFSA should be filed as soon as possible after January 1 to receive aid the following academic year, because many schools have limited funds and award some aid on a first-come, first-served basis.
Where do I get a FAFSA?
You can get a FAFSA in early winter from your high school guidance office, college financial aid office and some libraries. The FAFSA can also be completed and submitted electronically at www.fafsa.ed.gov.
Is it difficult to complete the FAFSA?
The FAFSA is a comprehensive form that requires information about your income and your family's income, income taxes, assets, number of family members and number of family members attending college. The FAFSA can take some time to fill out, but you only need to complete it once a year.
When do I get the results?
About four weeks after you submit your FAFSA, you will receive a Student Aid Report (SAR). The SAR will tell you your expected family contribution as well as whether or not you are eligible for a Federal Pell Grant.
Do I need to send a copy of my FAFSA or SAR to each school where I apply?
The Federal government will forward your SAR information to the schools that you list on your FAFSA. Once the school's financial aid administrator's receive your SAR (about four weeks after you file your FAFSA), they will build a financial aid package to offer you.
Do I need to file a FAFSA every year?
Yes, but after you have filed your first FAFSA, you can usually just submit a Renewal FAFSA in subsequent years. The Renewal FAFSA is sent to your home address and is preprinted with about 75% of the previous year's information.
|
