This page is going to have information on applying for Free Application For Student Aid (FAFSA). Regardless of which education benefit you use, whether it is federal (Post 9-11 GI Bill and Montgomery GI Bill) or state (Illinois Veterans Grant and Illinois National Guard Grant), you should apply for FAFSA. FAFSA is a government form that students can fill out to determine if they're eligible for financial aid from the federal government. You must submit a new application every year you plan to attend college to receive aid and the deadline is usually June 30th for the following academic year. Completing and submitting the FAFSA form is free and relatively easy. It gives you access to the largest source of aid to help you pay for college or career school. In addition, many states and colleges use your FAFSA information to determine your eligibility for state and school aid. Some private aid providers may use your FAFSA information to determine whether you qualify for their aid as well. As I mentioned before it is free so there is no reason to not fill out the FAFSA and see if you qualify for any assistance. Below I will list the steps for applying for FAFSA.
Step 1: Create an FSA ID
An FSA ID is a username and password you need to sign the FAFSA form online. If you don’t have an FSA ID, visit the Federal Student Aid website to create an FSA ID, as soon as possible. It takes about 10 minutes to create an FSA ID. If this is your first time filling out the FAFSA form, you will be able to use your FSA ID right away to sign and submit your FAFSA form online. If this is not your first time filling out the FAFSA form, you may need to wait one to three days for the account verification process before you can use your new FSA ID to renew your FAFSA form and sign it online.
Step 2: Start the FAFSA form
Go to fafsa.gov to get started and click on "Log In To Start" or "Create LogIn" if you do not yet have one. Click "Enter your (the student's) FSA ID. Then enter your FSA ID username and password, and click "Next".
Then when prompted, create a save key. Unlike the FSA ID, the save key is meant to be shared. A save key is a temporary password that allows you and your parent(s) to “pass” the FAFSA form back and forth. It also allows you to save the FAFSA form and return to it later. This is especially helpful if you and your parents are not in the same place.
Step 3: Fill out the student demographic section
This is information such as your name, date of birth, etc. If you have completed the FAFSA form in the past or if you log into the FAFSA form with your FSA ID, a lot of your personal information will be pre-populated to save you time. Make sure you enter your personal information exactly as it appears on your Social Security card (no nicknames).
Step 4: Select the schools you want your FAFSA information sent to
In the School Selection section, add every school you’re considering, even if you haven’t applied or been accepted yet. It doesn’t hurt your application to add more schools, and colleges can’t see the other schools you’ve added. In fact, you don’t even have to remove schools if you later decide not to apply or attend. If you don’t end up applying or getting accepted to a school, the school can just disregard your FAFSA form. But, you can remove schools at any time to make room for new schools. You can add up to 10 schools at a time.
Step 5: Answer the dependency status questions
In the dependency status section, you’ll be asked a series of specific questions to determine whether you are required to provide parent information on the FAFSA form.
The dependency guidelines are set by Congress and are different from those used by the Internal Revenue Service (IRS). Even if you live on your own, support yourself, and file taxes on your own, you may still be considered a dependent student for federal student aid purposes. If you are determined to be a dependent student, you’ll be required to report information about your parent(s). If you’re determined to be an independent student, you won’t have to provide parent information and you can skip the next step. Note that veterans are automatically considered independent.
Step 6: Fill out parent demographic information
This is where your parent(s) will provide basic demographic information, if you were determined to be a dependent student in the step above. Again veterans are automatically considered independent so this step should not apply to you.
Step 7: Supply your financial information
Here is where you will provide your financial information. This step is incredibly simple if you use the IRS Data Retrieval Tool (DRT). The IRS DRT allows you to import your IRS tax information into the FAFSA form with just a few clicks. Using this tool also may reduce the amount of paperwork you need to provide to your school. So if you’re eligible, use it! If not, you can request your Tax Transcript to either be mailed to you or you can print your Tax Transcript online by visiting https://www.irs.gov/individuals/get-transcript.
Step 8: Sign and submit
You’re not finished with the FAFSA form until you sign it. The quickest and easiest way to sign your FAFSA form is online with your FSA ID.
After it is submitted, in one to three business days you’ll be able to log in to StudentAid.gov to review your FAFSA Submission Summary to make sure all the information is complete and accurate. If there’s any missing or incorrect information, complete or correct your FAFSA form as soon as possible. Following that is waiting and responding to the aid offers you will receive!
So as you can see filing for FAFSA is not too complicated and can give you access to additional state and federal aid. In addition, just because you apply does not mean you have to accept any of the offers. With federal and state veteran grants, most veterans do not accept the offered loans, only any offered grants. With that being said everyone has different financials so do what is best for you and take advantage of all the aid you can.
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