FAFSA (Free Application for Federal Student Aid)- the FAFSA is a federal form to be completed by students planning to go to college or technical programs, to determine their eligibility for Financial Aid (student loans and grants). Loans are money that you borrow that you must pay back, typically with interest. Grants are money that you do not need to repay and are usually based on financial need. When completing the FAFSA, you base it on your household income information. Once submitted, the FAFSA will provide you with an Expected Family Contribution (EFC). The EFC determines what the student's family can most likely provide towards college expenses. The EFC is then taken from the Cost of Attendance (COA) to determine eligibility. Cost of Attendance - Expected Family Contribution How much Financial Aid you are eligible for!
The IRS DRT electronically transfers your federal tax return information into your FAFSA
It saves time and improves accuracy when filling in data fields
Which parent's information should be reported on the FAFSA if they are separated and do not live together?
Use the parent's information in which he/she has custody the majority of the time
If custody is split evenly, use the parent's information that provides the majority of financial support
If your family income has significantly decreased, contact the Financial Aid Office of the college you plan to attend. Colleges have the authority to make adjustments on a case-by-case basis when justified by special circumstances.
