The Financial Aid Process
You’re a dependent student unless:
- You were born before Jan. 1, 1980;
- You are married;
- You are enrolled in a master’s or doctorate program for the current year;
- You have children who receive more than half their support from you;
- You have dependents (other than your children or spouse) who live with you, who receive more than half their support from you;
- You are an orphan or a ward of the court (or were a ward of the court until age 18);
- You are a veteran of the US Armed Forces.
When Should I Apply for Federal Student Aid?
You should complete the FAFSA as soon after Jan. 1 as possible. Don’t transmit your electronic FAFSA or sign, date, or mail your paper FAFSA before Jan. 1 or your application will be returned to you.
Your eligibility is determined each year. That means you have to complete a Renewal FAFSA every year you want to be considered for any financial aid awards.
What Information Will I Need to Complete the FAFSA?
- You need to have a Social Security Number.
If you don’t have a SSN, you should apply for one at your local Social Security office or online at www.ssa.gov. - You should have a PIN.
If you fill out the FAFSA on the Web, having a PIN (an electronic access code number) allows you to electronically sign your FAFSA. Your parents may want to have a PIN also. That way, the financial aid process can be completed totally online.
Having a PIN also allows you to access your processed FAFSA; make corrections to your application; electronically sign a master promissory note (for student loans); complete a renewal FAFSA; and access all of your application data records online. - You need to know whether to report your financial information or your parents’ financial information. Most students who are just entering college or trade school right out of high school are considered “dependent students.”
- You need to have your parents’ US Income Tax Return if you’re a dependent student. If you filed a return, you’ll need yours also. If you are not a dependent, you only need your Income Tax Return.
- You need to know the schools you are interested in attending. You
can list up to six schools on the FAFSA. The schools you list will get
the results of your application.
Each participating school has a school code and the school code will need to be listed on the FAFSA. You can get a list of current school codes from FAFSA on the Web.
Tip: If you need any help in completing the application, online help is available with the FAFSA on the Web. If you need help with the paper application or submitting corrections, many free FAFSA resources exist online.
What Happens After I Submit the FAFSA?
After your FAFSA is processed, you will receive a Student Aid Report (SAR). If you provided an e-mail address, you will receive an e-mail (within one to five days) that contains a secure link so you can access your SAR online. If you filed a paper FAFSA and did not provide an e-mail address, you should receive a SAR within two weeks.
When you receive your SAR, check it carefully. The schools you listed on your FAFSA will use the SAR to determine what your financial aid award will be. If you need to make any corrections to your SAR, do it quickly. You can make corrections through FAFSA on the Web or your school might be able to process corrections electronically for you. If you applied using a paper FAFSA, put the corrections on the SAR, sign it and mail it back.