8 EASY STEPS IN THE STUDENT FINANCIAL AID PROCESS

 

What to Do Before January 1

 

  1. Get a Social Security Number (SSN).  If you submit the FAFSA without a SSN, your application will not be processed. To apply for a SSN, go to www.ssa.gov.
  2. Request a PIN.  You can apply for a “sign” the FAFSA online, check the status and make corrections.  To get a PIN, go to www.pin.ed.gov .
  3. Make note of state and college deadlines and requirements.
  4. Obtain the FAFSA on the Web worksheet.  Use this tool to help gather information needed to complete the official FAFSA.  To get a worksheet, come to the College Career Center, or go to www.fafsa.ed.gov as early as October. You are not required to use the worksheet.

 

What to Do After January 1

 

  1. Complete the FAFSA on the Internet www.FAFSA.ed.gov. Apply as soon as you can after January 1 as funding is awarded on a first-come, first-served basis. Use the previous year’s tax information; do not wait until you’ve done your taxes for the current year.  You can make corrections on the Student Aid Report (SAR).
  2. Review your Student Aid Report (SAR). This summarizes the data you reported on the FAFSA.  Make corrections and changes as necessary.  You can add more colleges.  The Expected Family Contribution (EFC) will be in the upper right-hand corner.  Colleges will receive electronic copies of your SAR.
  3. Determine if you need to verify your FAFSA information.  At least 30% of submitted FAFSAs are selected for verification.  An * will appear after the EFC number.
  4. Compare award letters.  If you’re eligible for aid, colleges at which you are accepted will send you an award letter.  Carefully compare amounts and types of aid awarded.

 

 

Chart courtesy of Sallie Mae