Information about financial aid

FAFSA

What is it?FAFSA stands for Free Application for Federal Student Aid. The federal government uses this form to determine your eligibility for financial aid, which includes: grants, work-study, scholarships and loans.

EFC stands for Expected Family Contribution. Your family must contribute this amount in the coming year to your college costs.

PIN: Your key to online identification. The Personal identification Number (PIN) is the code that the U.S. Department of Education uses to identify you online.  A PIN allows you to check the status of your FAFSA, make corrections, fill out an online renewal next year and electronically sign to speed up the process.

To obtain a PIN, eligible students and parents can visit www.pin.ed.gov . Parents and students can sign up for their own PINs. Remember not to reveal this PIN to anyone.

FAFSA Process: 1-2-3

Step 1: Assemble forms needed to complete FAFSA

You will need the following to fill out the form:

-Social security number

-Current bank statements

-Driver's license

-Current mortgage and investment records

-2005 federal tax return (estimates are okay on tax questions)

-2005 W2 forms and other record of money earned

-Parents' 2005 income tax return (if dependent)

Step 2: Complete the FAFSA

-Complete the FAFSA on the web: www.fafsa.ed.gov   

-File the FAFSA as soon as possible after January 1

-Make sure you submit it and keep a copy for your records or make a copy if you are filing using the paper application.

Step 3: Review your Student Aid Report (SAR)

The SAR is proof that your FAFSA was received. You should receive your electronic SAR in 1-3 days if you signed with your PIN (paper 2-3 weeks).

The Student Aid Report is a summary of the information you entered on the FAFSA. The SAR also lets you know your EFC (Expected Family Contribution) and how much student aid you are eligible for.

If there are errors on your SAR, report any to the financial aid office at the college where your are applying. You can also make corrections online at www.fafsa.ed.gov .