Free Application for Federal Student Aid (FAFSA)
The FAFSA is the most important financial aid application; it is the main application for federal grants and loans, as well as the basis for both New York State and private college grants. All eligible students should file the FAFSA, even if they don't think they will receive federal aid. Many colleges use information from the FAFSA to allocate their own financial aid funds.
Students and Parents should collect the following financial documents:
- The FAFSA application is available online at www.fafsa.ed.gov or www.fafsa.gov. It is also available on paper; however, applying online is easier and faster.
- The federal helpline (1-800-4-FED-AID) is an important resource for questions about the FAFSA
- Students can file the FAFSA on or after October 1st. For example, a student can file starting October 1, 2017 for the 2018-2019 school year
- In the past, many colleges have had priority filing deadlines between January 15 and February 15. It is unclear if these will change, now that FAFSA is available on October 1st. Students should confirm the priority filing date for each college they are applying to as early as possible. Students must file the FAFSA before the priority filing deadline to be eligible for the maximum amount of aid they ay qualify for.
- You will be using the prior-prior tax year (so for class of 2018, the 2016 taxes
- Please note - you will need to re-file each year, for the following year, while you are in college
- Both the student and the parent must make an FSA ID
- If you can, use the link to the IRS once you are on the FAFSA, which will populate all of your info for you. If you chose to do this do NOT change any of the numbers once it has populated, this will trigger a red flag and you will get asked for verification (a lengthy process).
- While filling out the form – you will be asked to list the ten schools you are applying for. Don’t Panic! It’s OK if you are applying to more than ten schools. BUT….. you should list the ten schools that have the earliest deadlines. You will have the opportunity to add more schools once it has been processed.
- At least one of the six schools MUST be in the State of New York to qualify for TAP (Tuition Assistance Program made possible by the state government). It doesn’t have to be a SUNY school – just a school in the State of New York. Indicating a New York school on the FAFSA will automatically generate a TAP application for you if you are eligible for the scholarship.
- A few weeks after you submit the FAFSA you will receive a Student Aid Report (SAR). Please review this form carefully. If there are any mistakes, you will need to make the corrections online.
- If you are eligible, an Express TAP Application will be sent to you shortly after you receive the SAR. Notice that they have chosen only one school to receive TAP. Don’t worry about which school is listed. Look over the form for mistakes and send it back ASAP. You will be able to change the school where you are actually attending online after you have made your final college selection.
- File the appropriate forms as soon as possible. Try to be as accurate as possible. Correct any mistakes as soon as you become aware of them.
Students and Parents should collect the following financial documents:
- Alien Registration Number or permanent residence card if not a US citizen
- Driver's license or non-driver ID
- Social Security Number
- W-2 forms and other records of money earned for the year preceding
- Federal Income Tax Return - IRS form 1040, 1040A, 1040EZ, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the US Virgin Islands, the Marshall Islands, the Federated States of Micronesia or Palau
- Untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veteran's benefits records
- Most recent bank statements
- Most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
All information received from Goddard Riverside Community Center Options Institute, copyright 2014 Options Institute (TM)