In the process of getting my documents together for financial aid next year. Anyone know exactly what information FAFSA requires? Would be a massive help, thank you!
The FAFSA (Free Application for Federal Student Aid) asks for several different types of information to determine your eligibility for federal financial aid. Here's what you'll need to have on hand:
1. Personal Information: This includes your Social Security Number, full legal name, date of birth, and permanent mailing address. If you are not a U.S. citizen, include your Alien Registration number.
2. Student's Financial Information: This includes your previous year's income tax returns, W-2s, and other records of money earned. In addition, you'll need bank statements and records of investments (if applicable), and records of untaxed income, such as child support received, interest income, and veterans noneducation benefits.
3. Parents' Financial Information: If you're a dependent student, you'll also need similar financial information from your parents. This includes their previous year's income tax returns, W-2 forms, bank statements, and information about their other income and assets.
4. Household Information: The FAFSA will ask about the size of your household and the number of people in your household who will be attending college during the academic year.
5. List of Colleges: You'll be asked to list the schools to which you are applying. The FAFSA will then send your information directly to these schools.
6. FSA ID: You'll want to create a Federal Student Aid ID. This is a username and password that allows you to access all Federal Student Aid's online systems and can serve as your legal signature. Both you and one of your parents (if you're a dependent student) will need an FSA ID.
After filing the FAFSA, you’ll receive a Student Aid Report or SAR, which indicates your Expected Family Contribution or EFC now known as the Student Aid Index (SAI) – the amount the government expects your family to contribute towards your college education.
I hope this helps, and good luck with your application!
CollegeVine’s Q&A seeks to offer informed perspectives on commonly asked admissions questions. Every answer is refined and validated by our team of admissions experts to ensure it resonates with trusted knowledge in the field.