FAFSA Step-by-Step Process

The Department of Education is over Federal Financial Aid and manages the FAFSA website. However, once you submit your FAFSA, you will work with your college’s financial aid office.

Each college has a financial aid office. This is one of the most important offices on a college campus. Each financial aid office will have a website portal on your college’s main website. You will need to become very familiar with your college’s financial aid website. This is how you track the process of your financial aid award process [verification], view your award letter, and accept or decline your financial aid awards.

The priority deadline is the date you must file your FAFSA to receive priority consideration in the financial aid awarding process. In other words, you put yourself at the front of the line for financial aid! If you miss a FAFSA priority deadline you can still apply and mostly certainly should apply for financial aid. For many colleges, the priority deadline is March 15 but for some schools it’s as early as March 1. Check your college’s financial aid website to find when its financial aid priority deadline. Because the Texas Grant is limited, it is essential for you to meet your college’s priority deadline to maximize your chance to receive this generous grant.

There could be several reasons for this, especially if you became a permanent resident or citizen in the last few years. The best way to resolve this is to call the Federal Student Aid Office at 1-800-433-3243.

Your parents should go to https://studentaid.ed.gov/npas/index.htm and try first to [Request a Duplicate PIN]; if this doesn’t work s/he can [Reestablish My Pin] or [Disable My Pin] and then [Apply For A PIN] again.

The PIN will no longer be required starting in the spring of 2016. The PIN will be replaced with a FSA ID (User Name and Password).

If there are extenuating circumstances, such as your parents are retired or are receiving disability through Social Security, then you are not expected to supply tax information on the FAFSA. You will put zero for their income and most likely be asked by your college financial aid office to submit a low-income verification document, which they will supply.

However, if your parents are required to submit a tax returns then you will need them to submit their taxes; otherwise, you risk not having your FAFSA processed.

You can still complete the FAFSA. Most college receive ample federal financial aid. However, state and college financial aid (especially grants) is extremely limited, and it’s essential that you meet your college’s financial aid priority deadline.

Yes, unless you meet one of the categories that allows you to be classified as INDEPENDENT of your parent:. 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. Click Determining Dependency Status for an Excellent Chart.

That is not a problem. You will enter 0’s for their social security number, which will alert Federal Financial Aid that your parents do not have a SS#. Also, your parents can still file an income tax, using a Tax ID number.

There could be several reasons for this, especially if your parents recently became a permanent resident or citizen in the last few years. The best way to resolve this is to call the Federal Student Aid Office at 1-800-433-3243.

Go through this check list before calling the Federal Student Aid Office at 1-800-433-3243

1. Check their filing status on their tax return.
2. Make sure the address matches the one on their tax return.

You will log back into your FAFSA account 24 to 48 hours to see if your FAFSA has been processed. If it has been, you will download and review your SAR (Student Aid Report).

If you have made any errors, correct them and log back in 24 hours later to see if your FAFSA has been processed.

Your Student Aid Report (SAR) is a paper or electronic document that gives you basic information about your financial aid.

The Student Aid Report will contain three important items you MUST check.

1. FAFSA Status: processed, errors found, or additional information needed.
2. You EFC [estimated family contribution].
3. If you have been selected for verification, which means you will supply additional forms or tax information to your college’s financial aid office.

1. Verification is a process to confirm the information you provided on the FAFSA is correct..
2. Verification selection can be random or you may be required if your FAFSA data was incomplete, estimated or inconsistent.
3. The U.S. Department of Education selects some students for the verification process. Others are selected if your college’s financial aid office finds conflicting information.

If you have an * after your EFC on your Student Aid Report, then you have been flagged for verification.

1. You will contact your college’s financial aid office. Follow these steps.
   • Check your email to see if your college financial aid office has sent you information about why you were verified and what to do next.
   • Check your college financial aid account. Often this is how your financial aid office will let you know why and what to do about verification.
   • Call or stop by your college financial aid office. You will want to find out exactly what they need from you.
2. You will need to turn in specific documents, such as a tax transcript or social security end of your statement if you parents are retired.

This generally happens when the Department of Education has found an error in information you provided. You will need to make a correction to your FAFSA. After you correct your FAFSA information , check back 24 hours later. If you still cannot get your FAFSA to process, call the Federal Student Aid Office at 1-800-433-3243.

1. You estimated your parents income because they had not already completed their taxes.
2. You were not able to connect your parents tax information with the IRS Data tool [most common].
3. You have been randomly selected.

Click "Order a Tax Transcript"

When you are flagged for verification, colleges will ask that you complete what is called a Dependent Verification Worksheet or an Independent Verification Worksheet. Most colleges create their own Verification Worksheets. You can pick these up at your college financial aid office or download them from your college’s financial aid website.

Verification sheets ask the same questions. They will ask for your parents’ income or source of financial assistance, such as social security benefits. You and your parents will need to sign the worksheet and you MUST turn them back in to receive financial aid!

After your FAFSA has been processed you will receive an award letter from each college you have been accepted to detailing how much financial aid you will receive.

In the old days, colleges mailed an award letter to a student. Now, colleges expect you to log into your financial aid account and review your award letter online.

You should expect your award letter 4 to 8 weeks after your FAFSA has been processed. Remember, that before a college will send/create an award letter for you, you must FIRST clear up any verification issues.

If you do not receive an email from your college’s financial aid office in 4 weeks, you should contact them and find out why you have not received an award letter.

First, if you do not accept your award letter the college will assume you do not want financial aid. In other words, you won’t get any money!

Log into your college financial aid account and go to a section (generally called) award letter or accept award offers.

You will have the opportunity to accept or not accept your financial aid. You can accept all or part of your financial aid offer. If you do not want to take out loans, then you can decline them.

Once you accept your financial aid , funds will be moved into your college account. You will also receive a college debt card in the mail, which will allow you to pay for books.

When you register for classes (sign up), you will be asked how do you wish to pay. You can apply your financial aid at this point.

No you do NOT. A good rule of thumb is NOT to take out more than $5,000 a year in loans.

1. Contact your college’s financial aid office and explain to them your situation (you need additional grant funding to pay for college). If you parents have experienced financial hardships in the past few months, the college might lower your EFC.
2. Consider less expensive schools. If you were accepted to a private school and will have to take out thousands in loans a year then you might consider a state college or attending a community college the first two years.