Free Application for Federal Student Aid (FAFSA)- FAQs/ Tips

Completing the Free Application for Federal Student Aid (FAFSA) is the first step toward getting federal aid for college or graduate school. The FAFSA form is the primary application for federal, state and college based financial aid (including Pell Grant, Federal student loans and Federal Work-Study). This is a form that every student applying for aid should fill out.

(Read: our exclusive financial aid FAQs; Financial aid guide; for more detail information.)

Q2. Why should I fill out the FAFSA?

Many families mistakenly think they don't qualify for aid, and prevent themselves from receiving financial aid by failing to apply for it. It is in the best interest of the student to apply for aid and speak with a financial aid officer to get additional information. If you don’t fill out the FAFSA, you could be missing out on a lot of financial aid! We’ve heard a number of reasons students think they shouldn’t complete the FAFSA. Here are a few common reasons:

“I (or my parents) make too much money, so I won’t qualify for aid.”
“Only students with good grades get financial aid.”
“The FAFSA is too hard to fill out.”

Note: By not filling and submitting the FAFSA form you are only losing out on possible aid which you can get. Everyone should fill out the FAFSA!

Q3. Am I eligible to receive financial aid?

To be eligible to receive federal student aid, you must:

Be a citizen or eligible noncitizen of the United States;
Have a valid Social Security Number;
Have a high school diploma or a General Education Development (GED) certificate, or have completed homeschooling;
Maintain satisfactory academic progress;
Not owe a refund on a federal student grant or be in default on a federal student loan;
Register (or already be registered) with Selective Service, if you are a male and not currently on active duty in the U.S. Armed Forces;
Not have a conviction for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid (such as grants, loans, or work-study).

Q4. When do I fill out and file the FAFSA?

To be considered for federal student aid for the 2013-2014 award year, you can complete a Free Application for Federal Student Aid (FAFSA) between January 1, 2013 and midnight Central Time, June 30, 2014. Any corrections or updates must be submitted by midnight Central Time, September 20, 2014.

Most student financial aid is limited (there isn't always enough for everyone who applies) and are usually awarded on a first-come, first-served basis. Therefore, submitting your application early/on time ensures that you'll be considered for the maximum amount of aid for which you may be eligible.

However, many states and colleges have earlier deadlines for applying for state and institutional financial aid. You can find your state’s deadline at https://www.fafsa.gov/deadlines. Check with your college about its deadlines.

Q5. How do I obtain the FAFSA?

There are several ways to obtain the FAFSA form-

Completing the FAFSA is an easy process, and it’s completely free. We recommend that you submit your FAFSA online at: http://www.fafsa.ed.gov using FAFSA on the Web, as your application will process within 3-5 days. Or
You can ask your guidance counselor for a paper copy. You can also get the FAFSA application from the financial aid office at a local college, your local public library, or by calling 1-800-4-FED-AID. Paper FAFSA takes 7-10 days to get processed.

For help with filling out the FAFSA, you can go to: http://studentaid.ed.gov/resources#free-application-for.

Q6. What are the documents required for FAFSA?

You will need records of income earned in the year prior to when you will start school. You may also need records of your parent's income information if you are a dependent student.

You will need records of income earned in the year prior to when you will start school;
You may also need records of your parent's income information if you are a dependent student;
Social Security Number (can be found on social security card);
Driver's license (if any);
W-2 forms and other records of money earned;
Your and/or spouse's, (if you are married) federal income tax return;
Parent's federal income tax return (if you are a dependent student);
Untaxed income records - social security, temporary assistance to needy families, welfare, or veterans benefits records;
Photocopy of loan agreement(s), if any, with all supporting documents;
Bank statement certificate of savings (if any);
Business and investment mortgage information, business and farm records, stock, bond, and other investment records;
Transcript of grades for the last three years;
Photocopy of car(s) registration form for each car owned by family;
Alien registration card (if you are not a U.S. citizen);
Any additional document that would support the application for financial aid (e.g. medical reports and recent medical/hospital bills, certificate of job termination or end of service, etc...)

Q7. Where do I send the FAFSA form once it has been completed?

You will be sending your FAFSA off to the federal government Federal Central Processor (FCP). The Central Processor, a federal computing center, calculates an initial estimate of your Expected Family Contribution (EFC) for one academic year. They use the "Federal Methodology" to perform the need analysis and decide on your EFC. The EFC is the basis for determining federal / state awards and college-based financial aid. The Central Processor will send reports outlining your EFC information to the colleges you designated on your FAFSA form and to you.

Q8. What happens after I submit my FAFSA?

After you submit your FAFSA, you need to wait for the Student Aid Report (SAR) that will be sent to you by the Federal Central Processor (FCP). Usually, within 3-5 weeks you will receive the SAR, documenting their evaluation and your EFC.

Q9. How long does it take for my school to receive the FAFSA?

Depending on when you file and how busy your school's financial aid office is, it could take anywhere from a couple of weeks to several months. You'll need to inquire at your school's financial aid office for status updates about your FAFSA information after you've filed it.

Q10. Do I have to reapply for financial aid (FAFSA) every year?

Yes. Most financial aid offices require that you apply for financial aid every year. If your financial circumstances change, you may get more or less aid depending on the situation. After your first year, you will receive a "Renewal Application" which contains preprinted information from the previous year's FAFSA.

Note: that your eligibility for financial aid may change significantly, especially if you have different number of family members attending college. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GPA.

Q11. What happens if taxes are not filed? Should I still complete the FAFSA?

Yes. You can estimate your income (using pay stubs, W-2s, 1099s, bank statements, etc.), and then make any necessary adjustments later, once you receive your Student Aid Report (SAR). There is no penalty for estimating your income on your FAFSA—although you will need to make any adjustments once your taxes are completed. Better to estimate and file on time, so you'll receive consideration for the maximum amount of aid available, than to file late and miss out on part or all of the aid for which you might have otherwise been eligible.

Q12. How do I know if I am a “dependent” or “independent” student?

The Department of Education uses a very rigid set of criteria for determining whether a student is ''índependent" for financial aid consideration (which means that the custodial parents' income and asset information is not considered in determining a student's financial aid, and therefore not required on the FAFSA).

Regardless of how much support you may actually receive from your parents or legal guardians, you are still likely to be considered a dependent student for financial aid purposes unless you meet certain criteria (see FAFSA Dependency).

However, if you have special circumstances which requires consideration, and for which you may be able to provide documentation, you may contact your school's financial aid office. Only your school's financial aid office may issue a “dependency override” on the FAFSA application

Q13. What if I made a mistake filling out the FAFSA? Can I make changes to my FAFSA?

If you used the Department of Education (ED) website to complete your FAFSA and then saved it, you may log in and make changes to your FAFSA on their website before it is submitted to the federal processor. However, once your FAFSA has been submitted to the federal processor—either by mail or electronically you will need to wait until after it has been processed and a Student Aid Report (SAR) has been generated in order to make any necessary changes.

Q14. I filled out my FAFSA and have decided to transfer/withdraw from college. What should I do?

If you transfer to a different college, your federal aid does not transfer with you. You will need to add the new college’s Federal School Code to your Free Application for Federal Student Aid (FAFSA).

Note: You will need to check with the financial aid office at your new college to find out how much financial aid you are eligible to receive when you transfer. If you receive federal student aid (except for Federal Work-Study) and you withdraw from college, a portion of the funds may need to be returned by you or your college. For more information about your college’s return-of-aid policy, contact the financial aid office at your college.

Q15. How can I check the status of my FAFSA application?

You can check the status of your application online through the Department of Education website. Or contact your school's financial aid officers for information.

Q16. How long does it take for my school to receive the FAFSA?

Q17. How will I know if my FAFSA application has been rejected?

The Student Aid Report (SAR) is your record that the federal government has processed your FAFSA. To be sure that it was not rejected, you can look on the first page next to the letters EFC (which stand for Expected Family Contribution). If there are no numbers after the letters EFC, your application has been rejected and needs correction. It is also possible that there may be a “C” after the letters EFC. This also means that corrections are required.

Q18. I filled out my FAFSA, but was not eligible for any financial aid, what do I do now?

You may not qualify for need-based aid, but there are a few sources of aid such as the Unsubsidized Stafford and PLUS loans that are available regardless of need. Contact your school's financial aid office for more information.

Q19. How can I ensure my FAFSA forms are filled out accurately and completely?

By following a series of simple steps parents and students should be able to ensure that their FAFSA forms are ready for evaluation by the government processors.

Tips for FAFSA:

Make sure that the name(s) used on the form match the name(s) used on your social security card;
Make a copy of the form that you can use as a worksheet to fill in information as a test run;
Read all instructions carefully in order to avoid errors. The form comes with detailed instructions for each question. After filling in the practice form, transfer all the data onto the original using a # 2 pencil;
Complete only those sections you are required to complete. Print neatly so that the application can be easily read. Do not cross out anything . If you make a mistake on the original, make sure you erase completely;
Round off dollar figures to the nearest dollar. Write in only the spaces provided;
Don't include attachments on the FAFSA; they will be thrown away;
If there are any special circumstances about your family's financial situation, send a letter to each select college's financial aid office to explain.

Fill-out all blank spaces unless instructed to do otherwise. If you or your parents leave a blank, the Federal Central Processor (FCP) and the colleges may think the data has been mistakenly left out. Enter a "0" or an "X" to indicate that the question has been considered and no answer is appropriate;
Make sure you sign the forms. You and at least one parent or guardian must sign the FAFSA form, otherwise it is considered invalid and it will not be processed;
Double check all responses for accuracy;
Make a copy of the completed form for your records. Send the original form in the envelope provided. Don't enclose anything else other than the application itself;
If there are special considerations about your family's financial situation, you should submit a written explanation directly to the select college's financial aid offices;
Answer all questions about citizenship carefully. The FAFSA is automatically sent to the U.S. Dept. of Education to verify your citizenship;
List all colleges and programs that you want to receive information from your FAFSA form. You can add other colleges later on through the Student Aid Report (SAR), but it is easier to do it with the FAFSA if possible;
Your FAFSA form is automatically submitted to the federal government for Pell Grant and other federal/state aid consideration. Be sure all information about finances is accurate and up- to- date;
Keep a copy of your FAFSA form in your files. This first form is only good for applying for federal aid for one year.. However, the Federal Central Processor (FCP) will send you a new FAFSA form each year, which will have much of the original information preprinted on it. You and your parents will only have to enter information that has changed over the course of the year;
Keep copies of all FAFSA forms so you can refer to them as you fill out each subsequent FAFSA form. When you mail your FAFSA form, be sure you get a certificate of mailing from the Post Office as a receipt that proves you sent the forms by the deadline.

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