FAFSA

FAFSA Made Easy

It all starts with the FAFSA.

The FAFSA (Free Application for Federal Student Aid) is the starting off point for all Federal financial aid. You will have to submit a FAFSA form to be eligible for Federal Student Loans including Federal Stafford Loans and/or Federal Parent (PLUS) Loans. You must also fill out the FAFSA to even be considered for grants or work-study.

There are many factors that determine your eligibility for student financial aid. The FAFSA will examine your family’s financial situation and the U.S. Department of Education will consider the parents and students income, net assets, number of family members in the household, and family expenses. Make sure you submit the FAFSA form as early as possible! You can submit a FAFSA as soon as January 1st.

Almost every family is eligible for some financial aid, even those that think they earn too much income or don’t know enough about their financial aid options. Some sources of financial aid, such as Unsubsidized Stafford Loans and Parent (PLUS) Loans, are available regardless of need. Even for those that Federal financial aid is not available there is other financial aid such as Private Student Loans. You will still need to fill out the FAFSA to be considered for financial aid. You must complete the FAFSA each year to continue to be eligible for financial aid for each new academic year.

Please note that the funds for need-based financial aid are limited. Most awards are offered on a first-come, first-served basis. Again, make sure that you submit your FAFSA as early as possible to have the most opportunities to receive financial aid.

Complete the FAFSA on the web at www.FAFSA.ed.gov. You can also submit a FAFSA through your high school or the college Financial Aid Office.

Here is a list of some items that will make the FAFSA easier.

You will need records of income earned in the prior year. You may also need records of your parent’s income for the prior year if you are a dependent student.

• Your Social Security Number. (SSN)
• Your driver’s license. (if applicable)
• Your W-2 Forms and other money earned in the prior year.
• Your (and your spouse's, if you are married) prior years Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ, 1040TeleFile, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia.
• Your parent’s prior year Federal Income Tax Return. (if you are a dependent student)
• Your current bank statements.
• If you are not a citizen of the United States of America you will need your alien registration or permanent residence card.
• Your current business and investment mortgage information, business and farm records, stocks, bonds, and/or other investment records.
• Your prior year untaxed income records – Social Security, Temporary Assistance to Needy Families, welfare, and/or veterans benefits records.

Electronic Filing of the FAFSA

You can save time and find complete instructions for submitting the FAFSA electronically at www.FAFSA.ed.gov

After you have completed the FAFSA form and found out how much financial aid you are eligible for, feel free to see how quick and easy ASLS can make the financial aid process.