You can apply for financial aid online by submitting an application on the Free Application for Federal Student Aid website. The FASFA form helps your school and the United States Department of Education determine the financial aid opportunities, including grants and loans, that you are eligible to receive.
While it’s more convenient to apply for financial aid online, you can also mail your FASFA or get help with your application at school. However, you must submit your FASFA each year before the following deadlines:
· June 30th is the federal deadline for FASFA applications (for assistance the following year)
· Your state’s deadline, which you can view on the FASFA website
· Your school’s deadline, which you can learn by contacting your school’s financial aid office
Additionally, some states are partnered with the FASFA office, allowing you to transfer your information to your state’s financial aid form. When completing your FASFA online, you will find your state aid forms towards the end of the application process.
When submitting a FASFA online, you will need to create a federal student aid identification (FSA ID), username, and password. By doing so, you will be able to access your application should you need to make corrections and it becomes easier to submit your form annually. To complete your FASFA, you will need to provide a variety of information, including:
- Your Social Security number or Alien Registration number
- Your parents’ Social Security or Alien Registration numbers (dependent students only)
- Your federal tax information
- Your financial information, including bank account balances, untaxed sources of income, and investments
If applying by mail, it is essential that you do not include original copies of your financial documents, such as your most recent tax information.
The details you provide on your FASFA will help the government determine your Expected Family Contributions (EFC), which affect your education grant amounts, but do not influence your eligibility for federal loans.
If you apply for financial aid online, you can check the status of your application after you’ve applied. It will generally take three to five days for your application to process. If any action or correction is required after your application has been processed, you will need to contact your school to make any necessary corrections. If you submit your FASFA by mail, it can take between seven and ten business days before you can check the status of your application.
While your FASFA will help you apply for federal education grants, it will not impact general grants. Learn more about general grants and how they compare with federal grants on the next slide.
By Admin –