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Congratulations on your decision to pursue your educational goals! Making the decision to continue your education is difficult enough without having to worry about how you're going to pay for it. Education is a significant commitment in your future; in terms of both time and money. It’s important that you take some time to learn about your financial options and to complete all the necessary forms as quickly and accurately as possible. This will ensure you know how you’ll pay for your education and help you prepare financially for one of the biggest decisions of your life.
Too many students miss out on aid opportunities because they assume they will not qualify. Don’t make that mistake. Funding may be available for those who qualify and it’s as easy as 1, 2, and 3.
Step 1 - Apply for your PIN
You will need your PIN to electronically sign the FAFSA-on-the-Web. If you are dependent, for aid purposes, one of your parents will also need a PIN. You can access the PIN web site by going to: www.pin.ed.gov and select Apply for your PIN. Your PIN will be sent to your e-mail address in about 3 days. You can use your PIN each year when you apply, saving you time and effort. Your PIN will also give you access to your personal information in the U.S. Department of Education system.
Step 2 - Complete the Free Application for Federal Student Aid (FAFSA)
To apply for federal student aid and many state student aid programs, complete the FAFSA-on-the-Web. The information you provide will help determine aid eligibility, for those who qualify. To complete the 2009-10 FAFSA, you will need:
- 2008 Tax Return or W-2s, if you are not required to file taxes(and your Parents' 2008 Tax Return, if dependent,) as well as other untaxed income and asset information. You will use your parent’s information, If you:
- are under 24 years old
- are not married
- do not have legal dependents for whom you provide more than half of their support
- are not a veteran of the U.S. armed services
- are not an orphan or ward of the court
- Citizenship Documentation,
- DD-214 if a veteran and under 24,
- Your school’s FAFSA School Code: 013601
Step 3 - Contact the school to arrange a meeting with a Tuition Planner.
Once you have completed the FAFSA-on-the-Web the school will receive your data in about a week. Then they will determine your aid eligibility (for those who qualify) and provide you with a customized financial plan.
"How is my eligibility determined?"
The school calculates an estimate of the costs of your program, called a Budget or Cost of Attendance. This Budget includes direct costs (tuition and fees) and indirect costs (books, room, board, transportation and personal expenses).
The FAFSA is processed by the Department of Education and will provide the school with a figure called an Expected Family Contribution or EFC. The school will use EFC and the estimated Budget figure to determine your estimated financial need, for those who qualify.
The Department of Education does select some records for review of the data provided. If your application is selected, the school will ask for additional information from you and your family, such as, W-2s, tax returns and verification of household information. Several database matches are also performed between the Department of Education and other federal agencies. If your file is does not pass the match you may be asked to provide additional information.
For more information about the types of federal financial aid, click here.
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