Arbor View High School Counseling

FAFSA

Watch the Video 7 easy steps to the FAFSA  https://www.finaid.ucsb.edu/Media/FAFSASimplification/index.html

 

The www.fafsa.ed.gov website explains how to complete the FAFSA and provides answers to frequently asked questions (FAQs).  If you have additional questions, you can call the Federal Student Aid Information Center (FSAIC) at 1-800-4-FED-AID (1-800-433-3243) or contact a Financial Aid Administrator at a local college or university.

 

Completing and submitting a FAFSA is free, whether you file electronically or on paper.  The FAFSA is only available for the next school year after October1 of each year, so the priority “window” to complete the FAFSA is Octoberprior to the year the student is attending college. 

 

The FAFSA requires information from 1040 tax returns, but the tax return does not have to be completed in order to apply.  Estimates should be made in order to ensure mailing out the FAFSA during the month of January.  Photocopy or print the completed application for your records.

 

The SAR (Student Aid Report) is the processing center’s response to the FAFSA application.  You must carefully verify the information on the SAR and make corrections as necessary.

 

Federal Student Aid uses the data on your FAFSA to calculate an Expected Family Contribution (EFC). The EFC is an indicator of your family’s financial ability to pay for education after high school. Colleges will subtract your EFC from your total cost of attendance. The result is your financial need. 

 

The EFC is not the amount of money that your family must provide. The EFC as an index that the college will use to determine how much financial aid (grants, loans, or work-study) you would receive if you were to attend that school. Your application results are transmitted to the school(s) listed on your FAFSA, and the school(s) uses the EFC amount to determine the amount of financial aid that you are eligible to receive. Many states and schools also use the FAFSA data to award aid from their programs. Some states and schools also may require you to complete additional applications.

 

There are three categories of federal student aid: grants, loans and work-study. Grants provide financial aid that does not have to be repaid. Loans provide borrowed money that must be repaid with interest. Work-study allows students to earn money to help pay for education expenses while enrolled in school.  

 

Your financial aid “package”—the aid your school awards you—is likely to include funds from the federal student aid programs. Note that not all schools participate in all of the federal student aid programs administered by the U.S. Department of Education.  Also note that accepting any of this aid does not commit the student to military or other government service.

 

In general, to receive aid from the federal student aid programs, you must meet the following requirements:

 

• Be a U.S. citizen or eligible noncitizen.

• Have a high school diploma, General Educational Development (GED) certificate, pass an approved “ability to benefit” test, successfully complete six credit hours or the equivalent course work toward a degree or certificate, or have completed a high school education in a home school setting that is recognized as a home school or private school under state law.

• Enroll or be accepted for enrollment in an eligible program as a regular student seeking a degree or certificate.

• Be registered with Selective Service if required (in general, if you are a male age 18 through 25).

• Meet satisfactory academic progress standards set by your school.

• Certify that you are not in default on a federal loan or owe money on a federal grant.

• Certify that you will use federal student aid only for educational purposes.

And, only if you have previously received federal student aid:

• Certify that you were not convicted for a drug offense that occurred while you were enrolled in school and receiving federal student aid. If you have previously received federal student aid, you may not be eligible to receive additional federal aid if while you were enrolled in school and receiving federal student aid you had a drug offense for selling or possessing illegal drugs and that offense led to a conviction under federal or state law.