While FAFSAUSA.COM files most of their applications it receives online, we also file hundreds of FAFSA forms over the phone as well. Our experienced advisors have been helping students file FAFSA Forms for years and generally have them complete within 20 minutes. Remember, financial aid is on a first come first served basis, so apply first!
Can I File a FAFSA with FAFSAUSA over the Phone?
May 18th, 2009Can I fill out the FAFSA Form Myself?
May 17th, 2009You actually can fill out your FAFSA form yourself by going to your college or the governments website and getting the forms and paperwork and sitting down and filling out all the information. Most people find it takes them a couple of hours to figure it out, and you SHOULD download the FAFSA form instructions before you do this. They ar eabout 70 pages long and can obtained directly from thre departent of eduction.
State FAFSA Deadlines
May 16th, 2009It is always recommended to file your FAFSA with us as soon as possible after the first of the year, but for those of you who wait, please see our state deadlines page to make sure you dont miss the deadline.
What Percentages Of College Students Use Financial Aid
April 29th, 2009“What percentages of students use financial aid?”
-Pamela S., Port Charlotte, FL
Pamela,
Here is a fun fact: In 2007, over 10 million students received a combined total of $83 billion dollars in federal assistance. Pretty amazing, right?
Now compare that to what is available this year: $145 BILLION! That is literally almost double what was available in years past. Now more than ever is there a great opportunity for people to go back to school and have the bill covered by the government.
The federal statistics for fafsa federal aid tend to date back a few years, since the time it takes to quantify the information can be a year or two, so the most recent information I could find is for students enrolled from 2003-2004:
Highlights from 2003-04 National Postsecondary Student Aid Study (NPSAS:04) Undergraduate Financial Aid Estimates for 2003-04 by Type of Institution include the following:
All Institutions
· 63 % of all undergraduates enrolled in 2003–04 received some type of financial aid.
· 51 % of undergraduates received grants and about.
· 35 % took out student loans.
· 15 %t received grants from other sources (e.g., employers, parents’ employers, or private foundations or organizations).
The average amount of grants received was $4,000, and the average amount borrowed by undergraduates in 2003–04 was $5,800.
So as you can see, a huge portion of students rely on federal aid to finance their education. Only 15 % of students were able to acquire private funding for their tuition in the form of a scholarship or grant. This should demonstrate to you how important it is to consider federal aid, as your other options are very limited.
The one thing to remember is that ALL students (even that 15% that used private funding) should complete the FAFSA application because 99% of the time, it is required regardless of whether or not you use federal, state, or private funding.
Bottom line is that the FAFSA is the first place to start no matter what type of aid you are hoping to receive.
What Guidelines Qualify You For FAFSA Financial Aid?
April 28th, 2009“What guidelines qualify you for FAFSA aid?”
-Chelsea E., Orlando, FL
Chelsea,
The simple answer is: if you are a US Citizen, a high school graduate, demonstrate financial need, have a valid SSN, and do not have any previous drug convictions while receiving federal assistance, than you are eligible for student aid of some kind.
However, there is a more detailed explanation of exceptions and other specifications regarding eligibility on the government website:
According to the federal government, the following requirements* must be met to be considered eligible for student aid:
Financial need
Except for some loan programs, you must show that you have financial need, according to our requirements. See “Financial Need and Expected Family Contribution(EFC)”.
Educational requirements
· You must demonstrate by one of the following means that you are qualified to enroll in postsecondary education:
# Have a high school diploma or a General Educational Development (GED) certificate.
# Pass an approved Ability-to-Benefit (ATB) test. If you don’t have a diploma or GED, you can take an approved ATB test to determine whether you can benefit from the education offered at that school.
# Meet other standards your state established and that we have approved.
# Complete a high school education in a home school setting approved under state law.
· You must be enrolled or accepted for enrollment as a Regular Student working toward a degree or certificate in an Eligible Program.
· You must meet Satisfactory Academic Progress standards set by the postsecondary school you are or will be attending.
You might be able to receive aid for correspondence or telecommunications courses as long as they are part of a recognized certificate or degree program.
Legal and other requirements
· You must be a U.S. citizen or Eligible Noncitizen.
· You must have a valid Social Security number (SSN) (unless you’re from the Republic of the Marshall Islands, the Federated States of Micronesia or the Republic of Palau). If you don’t have an SSN, you can find out more about applying for one at www.ssa.gov or by calling 1-800-772-1213. TTY users can call 1-800-325-0778.
· When you apply for federal student aid you sign a statement that certifies that you will use federal student aid for educational purposes only. You also certify that you are not in Default on a federal student loan and do not owe a refund on a federal student grant (which could happen if you withdraw from school, for example).
· You must comply with Selective Service Registration. If you’re a male aged 18 through 25 and you have not registered you can, at the same time you complete your FAFSA, give the Selective Service System permission to register you by means of the FAFSA. You can also register online at www.sss.gov or call 1-847-688-6888. TTY users can call 1-847-688-2567.
· Generally, if you have been convicted for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid, you will be ineligible for a period of time based on the type and number of convictions. If you answer “Yes” to this question, it is very important that you complete and submit the FAFSA to determine your eligibility. If you are submitting a paper FAFSA, you will be mailed a worksheet to assist you in determining whether your conviction affects your eligibility for federal student aid
· Even if you’re ineligible for federal student aid because of a drug conviction, you should still complete the FAFSA because most schools and states use FAFSA information to award non federal aid.
· You have limited eligibility for federal student aid while you’re incarcerated. Generally, you’re only eligible for a Pell Grant and then only if you’re NOT incarcerated in a federal or state penal institution.
*Information as reflected in the www.studenaid.ed.gov 2008-2009 Handbook.
Does Getting Married Affect My FAFSA Application?
April 27th, 2009“I just got married; does that affect my FAFSA Application?”
-Sarah P., Salt Lake City, UT
Dear Sarah,
If you filed your application and then got married, it will not change your FAFSA application. If you have not yet submitted the form and recently got married, then you will need to indicate that you are now married and the month/year that it occurred in the appropriate section on the FAFSA.
This concept applies to all circumstances regarding your situation when you apply. Whether it be marriage, divorce, job loss, salary change, etc. The application collects the information about you (both personal and financial) that is accurate on the day that you apply. Even if all these circumstances change the following day, you would not need to update.
How Much Money Could I Expect From FAFSA?
April 23rd, 2009“My Mom makes 40k a year and Dad doesn’t work, how much could I expect from FAFSA?”
-Larry M., Binghampton, NY
Larry,
Great question! It would be fantastic if the government published a chart of income ranges that could automatically reflect how much aid you can expect, but unfortunately it just isn’t that easy.
The federal government reviews the information you complete on your FAFSA application (basically by having you list all sources of potential income: untaxed, interest income from investments, net worth, etc. and compares that to any and all financial obligations you may have) and determines by using a specific equation what your Expected Family Contribution (EFC) number would be. This number tells them (and you) approximately how much they expect you should be able to contribute financially to the Cost of Attendance (COA) of the institution you list on the FAFSA application itself.
So, for example, let’s say you want to attend America University which costs approximately $10,000 a year. After the federal government calculates your EFC, which let’s say they calculate to be 4389, you can expect that you will receive around $5,611 in aid, and that is usually a combination of grants and loans, or different types of loans added together.
Now, to get even more complicated, the amount they will offer will also fluctuate depending on when you apply, what state you live in, and how much money is left in the federal education budget when they go to cut your check.
So as you can see, the estimation for how much aid you will receive can be tricky and will almost always be just that: an estimation. However, you can usually find some really great EFC Calculators online that will help you get an idea of your expected federal aid.
To take control of your financial aid process, the best thing you can do is apply EARLY and use the help of a professional advisor who will make sure the form is filled out correctly. Otherwise you can spend weeks making corrections and adding information later that you may not know you even needed! There are mixed feelings out there about paying for professional help filling out the form, but I personally feel that when it comes to the difference between THOUSANDS of dollars, why not spend the $60 and know you are doing it right?
The FAFSA Application Information You Will Need To Have On Hand
April 22nd, 2009“What information should I have on hand to fill out my FAFSA Application?”
-Aaron B., Costa Mesa, CA
Aaron,
Fantastic question. The documents you need can sometimes seem overwhelming, or you may not even be sure where to get them. However, you can usually complete the application with the following documents and estimate certain answers when appropriate:
- · Your most recent income tax return (and your parents’ return if you are a dependent)
- · Your W2 from the past year (and your parents’ W2s if you are a dependent)
- · Your current bank statements
- · Your current investment records (if any)
- · Records of any untaxed income you may have received
- · Your Driver’s License (if you have one)
- · Your Social Security Number
- · If you are not a U.S. citizen: your alien registration or permanent resident card
As you can see there is specific information you will need before you can begin filling out the form. This is where the frustration for applicants can begin, especially if you are doing this on your own.
One way to simplify this issue is to have a professional advisor help you complete the form. It’s really similar to paying someone to help with your taxes. If you can provide the basic information (like a W2) they will know how to estimate the other information necessary to complete the application. The other added perk (which was my favorite part) was they explained to me in detail what the documents were and how to get them. I knew I had a 401K at my last company, but I had no idea how much I had paid into it but I knew it wasn’t a lot. It really helps to have an expert walk you through the process. Especially if you can be a little unorganized (like me) and lose these documents along the way.
I do want to mention that although having an expert to help you through it, if you are not aware of the types of income you received last year (but I imagine MOST people want to keep track of the money they earn) then this information will not magically appear on your form. The benefit of an advisor is really having someone to discuss the application with, and determine through a series of questions what forms you will need and then they help walk you through how you can get them.
Once you have these documents, you can complete the form with an advisor or own your own and submit it to the federal processor. Once you sign the form itself, you can expect a response (via email) within 3-5 of your general aid eligibility.
After Applying For FAFSA When Do You Receive Your Financial Aid?
April 21st, 2009“When applying for FAFSA when do you actually receive your financial aid?”
-Derek R., Nashville, TN
Derek,
The FAFSA form itself it only determining your eligibility for federal aid. So, when you complete and submit the form, what is actually happening with that information is as follows:
· The government gets your FAFSA (whether the paper or electronic version) and reviews it for errors and looks for any information that would invoke a “red flag” and result in a hold on the form. (Red flags occur when they see really low or really high income, when you report you received supplemental income but your “total wages earned” information doesn’t match, etc.)
· If the information is wrong or is “red flagged”, the government will then mail you paperwork to make changes, or you can make these changes online with your PIN. Once you’ve made changes, the process starts over again. You wait for them to review and confirm that everything else is okay. This can take WEEKS.
· Then, they sent you a Student Aid Report (SAR) that reflects your generalized federal aid options. This means that you will find out if you are Pell Grant eligible, and what type of Stafford Loan you can receive.
· The next crucial step is that this information is also sent to the schools you listed on the FAFSA form. They will also calculate what type of aid you will receive (specific amounts) and either send you a form letter or wait until you have applied to share this information with you.
· From there you will need to make a decision: Do I still want to attend this school? Do I only want to take the grant money or do I also need these loans? If so, do I want all of it? Once you make your decision, your Financial Aid Administrator will work with you on the paperwork you will need to receive the actual disbursement.
· The specific answer to your question is that you will actually have the $ in your hands (or, more accurately, in the pockets of the institution) as soon as you actually begin classes. So, as you can imagine, if you are moving across country to begin college, you will need to cover those expenses up front as your federal aid won’t be available for you until after you begin. Also, the money goes directly toward your institution and other eligible expenses, not to you. So don’t assume you can use the grant money to go out and buy that fancy new flat screen TV or Xbox you have always wanted!
How The FAFSA Dollar Amount Is Determined
April 20th, 2009“How does the FAFSA determine the financial aid you should receive?”
-Julie M., Chicago, IL
Julie,
Well that’s (literally) the million dollar question, isn’t it?
The federal government reviews the information you complete on your FAFSA
application (basically by having you list all sources of potential income: untaxed, interest income from investments, net worth, etc. and compares that to any and all financial obligations you may have) and determines by using a specific equation what your Expected Family Contribution (EFC) number would be. This number tells them (and you) approximately how much they expect you should be able to contribute financially to the Cost of Attendance (COA) of the institution you list on the FAFSA application itself.
So, for example, let’s say you want to attend America University which costs approximately $10,000 a year. After the federal government calculates your EFC, which let say is 4389, you can expect that you will receive around $5,611 in aid, and that is usually a combination of grants and loans, or different types of loans added together.
Now, to get even more complicated, the amount they will offer will also fluctuate depending on when you apply, what state you live in, and how much money is left in the federal education budget when they go to cut your check.
So as you can see, the estimation for how much aid you will receive can be tricky and will almost always be just that: an estimation. However, you can usually find some really great EFC Calculators online that will help you get an idea of your expected federal aid.
To take control of your financial aid process, the best thing you can do is apply EARLY and seek out the help of a professional advisor who will make sure the form is filled out correctly. Otherwise you can spend weeks making corrections and adding information later that you may not know you even needed! There are mixed feelings out there about paying for professional help for completing the form, but I personally feel that when it comes to the difference between THOUSANDS of dollars, why not spend the $60 and know you are doing it right?