There’s so much to know about financial aid including deadlines, terminology, types of aid and the awarding process in general.
Submitting your FAFSA is the first step in receiving financial aid. In this video we review the financial aid submission process. Learn what documents you’ll need to provide, what to expect after you submit your FAFSA and what verification involves.
How to submit your FAFSA
We hope you watched our What You Should Know About Financial Aid video, including FAFSA terminology. Now let's review the financial aid application process.
First, create an account and FSA ID at studentaid.gov. Once you're able to log in to your account, you'll be able to see the information needed to complete the FAFSA. Consider saving your login information for easy access when you're ready to log back in.
Next, complete your FAFSA by providing all applicable personal, financial and parent information requested. You'll be asked to provide your Social Security number, your Alien Registration number if you're not a U.S. citizen, your federal income tax returns, W-2s and other records of money earned, bank statements and investment records if applicable, records of untaxed income if applicable, and your FSA ID to sign electronically.
If you're a dependent student, you'll also need most of the same information for your parents. It's a good idea to get these details ready before you actually sit down to complete your FAFSA. Then you'll sign and submit your FAFSA, after you've gathered and provided your information.
After submitting, you can make sure your FAFSA is being processed by checking the status online at studentaid.gov. You'll receive a notification when your student aid report becomes available. Be sure to review it.
Sometimes verification is required based on the information submitted in your FAFSA. If so, you'll receive a verification notification. There are five main areas from your FAFSA that you might be asked to verify. Here's what you would need to provide.
Number one, tax information. A copy of your prior year tax return transcript.
Number two, the number of people in your household and the number attending college.
Number three, Supplemental Nutrition Assistance Program benefits.
Number four, child support.
And number five, high school completion status.
Once the requested verification information and worksheet is submitted and accepted, verification is complete.
Lastly, you'll receive your financial aid notification and can accept aid based on need and type.
For student loan aid to be dispersed, you may have to complete loan entrance counseling.
You're all set!
Before the semester begins, your school will let you know how your aid will be paid out.
Reach out to your financial aid office with any questions.