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FAFSA:

Free Application for

Federal Student Aid

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Objectives

Understand acronyms and jargon associated with the FAFSA (Free Application for Federal Student Aid).

Appreciate the importance of completing the FAFSA early

and accurately—each and every year.

Recognize how to address unique family and financial situations when completing the FAFSA—and, what to do if your situation cannot be addressed within the form itself.

Identify the correct FAFSA website and the form itself.

Become familiar with dependency questions. Determine what information and/or documents are

needed to complete the FAFSA and understand where to obtain this information.

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What…

…is the FAFSA?

The FAFSA is the Free Application for Federal Student Aid; it is the gateway to

almost all money to pay for college. This form is used to determine the amount of

money (or EFC) a family can “reasonably contribute” to the price of attending a

postsecondary institution. The results from the FAFSA are used in the awarding of

student grants, work-study, and loans.

…is an FSA ID?

This is a Federal Student Aid Identification, which is used to access all Federal Student

Aid websites, including www.fafsa.gov. The FSA ID consists of a user-created

Username and Password. The student can create an FSA ID at any point prior to or

after starting their FAFSA at https://fsaid.ed.gov. The student and, if student is

dependent, a parent will require an FSA ID to complete the FAFSA. For a list of

dependency questions to help determine dependency status, please see

page 25. Both student and parent will require a separate, unique email address for

their FSA ID; all FSA ID users are strongly encouraged to verify their email address.

…is a SAR?

The SAR is the Student Aid Report; it is a summary (approximately 5 pages) of all

the information entered into the FAFSA. The EFC can be found at the top right corner,

on the first page of the SAR. Once the FAFSA is processed, the student will receive an

email stating the Student Aid Report is ready.

…is an EFC?

The EFC stands for Expected Family Contribution. It is an indicator of a family’s

ability to pay towards the student’s education. It is also used by financial offices to

determine a student’s eligibility for federal, state, and some institutional financial aid

during one school year.

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How…

…do I start?

Students should begin by visiting https://fsaid.ed.gov to create their FSA ID Username

and Password. The FSA ID allows students to securely access their FAFSA, as well as

other Federal Student Aid websites, including National Student Loan Data System

(NSLDS).

…do I find the FAFSA?

The FAFSA can be found at www.fafsa.ed.gov. REMINDER: The FAFSA is FREE; do

not complete the FAFSA at any other website. You will be asked to pay.

…often must I complete the FAFSA?

The FAFSA is a form that must be completed every year the student is in school—the

earlier the better, as soon as possible!

…important is it that I check email regularly?

Because Federal Student Aid will email the student when the Student Aid Report (SAR)

is ready, it is vitally important that the student check his or her email on a regular

basis. Communication is not frequent, but anything from Federal Student Aid is

important. Communication will also be sent if a financial aid office makes changes or

corrections to a FAFSA and to remind students to make corrections if the FAFSA was

originally filed with estimates.

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Why…

…should I file a FASFA?

The FAFSA is the necessary application for any student wanting to receive federal,

state, and some institutional aid. Think of it this way: NO FAFSA=NO AID.

…is it important to file as early as possible?

Many kinds of financial aid are awarded on a first-come, first-served basis. Since some

funding is limited, students want to complete the FAFSA early in order to receive funds

for which they are eligible.

When…

…do I complete a FAFSA?

The FAFSA is not available until January 1st, 2016 and should be completed as soon

as possible. Aid is awarded on a first-come, first-served basis. The earlier the better!

…is Missouri’s FAFSA deadline?

In order to be considered for some Missouri aid, particularly the Access Missouri

Grant, schools must receive the FAFSA before April 1st, 2016. New deadlines will be

implemented as the FAFSA shifts from January to October; please contact The

Scholarship Foundation for updates on state deadlines and your school’s financial aid

office for updates on institutional deadlines.

…is my school’s FAFSA deadline?

Many colleges and universities have their own priority FAFSA deadlines; oftentimes,

these deadlines are utilized not just in the awarding of institutional dollars, but also

state aid (i.e., Access Missouri). Please check with each school’s financial aid office to

determine what those dates might be.

…do I renew my FAFSA?

Students should always renew their FAFSA as early as possible after it is made

available. Beginning with the 2017-2018 FAFSA, the application will be available on

October 1st of each year. (So, the FAFSA will be available October 1st, 2016!).

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FAFSA:

Free Application for Federal Student Aid

www.fafsa.ed.gov

First-time FAFSA filers will

want to log-in here! If you are a returning user,

you will use this Login to

complete, correct, or

update your FAFSA!

NOTE: Look for Federal Student Aid on the FAFSA website; double-check and make sure your

website looks like the above and says www.fafsa.ed.gov and nothing else! Remember, the FAFSA

is free and other websites may charge you!

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Log-in using the

student’s FSA

Username (or

verified e-mail

address) AND

FSA Password.

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Students will need

to create a SAVE

KEY in order to

return to a saved

FAFSA! A SAVE

KEY is temporary

and between 4-8

characters long.

Please complete the 2016-2017 FAFSA,

which will be available starting January

1st, 2016.

Check and/or confirm status of student’s

FSA ID Status here! For new users, who

have not created an FSA ID, here it will

indicate you need to “Create FSA ID”.

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Click here in order to access the various

help functions (live chat, phone number,

email addresses, etc.). The live chat

function is great—it allows you to save

and print the conversations you’ve had

with a customer service representative.

It is not mandatory to read through

these, but they provide good information

about Frequently Asked Questions

for the FAFSA.

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Students are not required to provide

a driver’s license. There is no reason

not to, but it will not prevent a

student from moving forward with

completing the FAFSA.

Most of the information on this

page is now pre-populated, based

on information entered for the

student’s FSA ID. Please review to

confirm information is correct and

answer any blank questions.

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There are several possible

options in the drop-down box;

please be sure to remember that

students are eligible for different

aid. Even if you are planning to

eventually obtain a master’s or a

doctorate degree, please make

sure to enter the degree you will

be working on for the 2016-2017

aid year. It could cause mix-ups

in the financial aid process.

Answering the high school question,

correctly, is more important than

ever! Don’t forget to hit

“CONFIRM!”!

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Search for schools here—

remember, you can add

up to 10 schools!

Don’t forget to ADD the

schools by clicking on this

box after checking the

school(s) you want to

select.

Don’t forget to

check important

school

information,

including

graduation

rates! This chart

also shows net

price average,

retention rates,

and other

important

information.

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Dependency

Status

&

Special

Circumstances

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NOTE: Parent refusal to

provide information or

contribute to college is not a

special circumstance. Schools

will not provide dependency

overrides in these

circumstances.

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Students who complete a FAFSA without parent

information must be aware of two things. First, the

student must immediately contact the school’s

financial aid office to begin the process of a

dependency override. Second, until a

dependency override has been granted, the FAFSA

will not calculate a student’s EFC.

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Dependent students will need

to know the marital status of

their parents. If a student’s

biological parents BOTH live

with the student, both of their

financial information MUST

be in the FAFSA, regardless

of marital status. As of

January 1st, 2014 parent

marital status includes an

option that says: “Unmarried

but living together”. This will

be for families where

biological parents never

married or, are divorced or

separated, but still reside

together.

By clicking on the link titled

“parents”, one can read

additional information and

descriptions to best choose

the correct marital status.

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Both parents and students will see these

questions, separately; a dependent

student will see these questions twice

(once for parent’s income/assets and

once for student income/assets). Each

will have to answer if they will file, are

not going to file, or have already filed

2015 federal taxes. In addition, they

should indicate their tax filing status

according to that tax return.

By indicating “will file”, you will be

prompted to estimate your 2015 tax

information. You must include

adjusted gross income, as well as

earned wages.

Additionally, you may be asked to

indicate whether or not you’ve

received certain federal benefits.

Once taxes have been filed, you

should make a correction with

updated tax information.

Information on this page and the

screen on page 19 will be

transferred over directly if the

IRS Data Retrieval function is

used for 2015 taxes.

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You will be answering this

question for 2015 taxes.

Options will include Already

Completed, Will File, or Not

Going to File.

In February 2016, families who

have “Already Completed” their

taxes will have the option to

use IRS Data Retrieval.

This feature allows families to

connect directly to the IRS and

have tax information

transferred over directly.

Using IRS Data Retrieval

is not required, but

strongly encouraged.

Federal Student Aid

recommends the tool because it

helps save time; families do not

have to be concerned about

making mistakes; and, if they

use IRS Data Retrieval

and do not change the

retrieved information,

they will not need to

provide tax transcripts if

selected for verification.

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This question is dynamic;

each individual family

will have a unique asset

dollar amount. It

includes an asset

protection allowance

based on the parent(s)

marital status and age. If

your assets exceed the

dollar amount shown on

the student’s FAFSA, the

parent(s) must answer

questions about bank

accounts,

savings/investments, and

businesses.

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This question should always be

left a “NO”; it is only marked

otherwise if you pay someone to

complete the FAFSA for you.

And you should never, ever

pay for FAFSA help! There

are many free resources: see

page 21!

Both the student and one

parent will sign

electronically, using

their FSA IDs!

Both must read the

accompanying statements

and indicate agreement.

You are all finished—hit

submit!

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Frequently Asked Questions

Why does the Department of Education ask for income information from the year before I go to school? The law requires that this information be used, since studies have consistently shown that verifiable income tax information from the most recently completed tax year (2015 for the 2015-2016 award year) is more accurate than projected (2016) information and provides a reasonable basis for determining family financial strength in calculating the Expected Family Contribution.

I’ll be filing a tax return this year, but I probably will not file until April. How should I answer the financial questions? Should I wait to fill out this form until after I’ve filed my tax return? Ideally you should complete a FAFSA after you have completed your tax return, but do not wait until April. Remember, many schools award aid on a first-come, first-served basis. Also, you may not be eligible for some Missouri state aid if you wait until April to submit your FAFSA. If you haven’t completed your tax return, you may use estimates from the prior tax year (2014). You can also calculate your adjusted gross income (AGI) and taxes paid using the instructions for the IRS Form 1040. The instructions can be found online at www.irs.gov/formspubs/index.html. Keep in mind, if you submit your FAFSA with estimates, you will need to make a FAFSA correction later. If my parents are divorced, whose information do I need? Report the information of the parent with whom you lived the most during the 12 months preceding the date you completed the FAFSA. It does not make a difference which parent claims you as a dependent for tax purposes. If you did not live with either parent or lived equally with each parent, the parental information must be provided for the parent from whom you received the most financial support during the preceding 12 months or the parent from whom you received the most support the last time support was given. If your parents are divorced, but still share a household, both parents information is required in the FAFSA.

What should I do if my parent with whom I live is remarried and my stepparent refuses to supply information? If you are a dependent student and your parent is remarried, the stepparent’s information must be included or you will not be considered for federal student aid. If you believe that your situation is unique or unusual other than the stepparent’s simple refusal to provide the requested information, you should discuss the matter further with your financial aid administrator at the college or university which you plan to attend. How are 529 savings plans reported on the FAFSA? There are two types of Qualified Tuition Programs: tuition prepayment plans and college savings plans (529s). Both will have the plan value reported on the FAFSA as an asset of the owner (not the beneficiary), except when the owner is a dependent student, in which case the plan is an asset of the parent. So, regardless of whether student or parent is owner, it is always reported as an asset of the parent. The plan value is not reported as an asset if the owner is another person (i.e., grandparent or non-custodial parent). In addition, plan values of a student’s sibling are also reported when the parent is the owner of the plans. Whose income do I report if I live with a grandparent, aunt, etc. (other than a biological or adoptive parent)? The FAFSA is very clear—only biological or adoptive parent information should be included in the FAFSA. Students who reside with a grandparent, aunt/uncle, or another adult may, depending on circumstances, be considered an independent student, which means no parent/guardian information is required. Otherwise, students may need to pursue a dependency override or begin conversations with a parent to secure necessary information.

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That’s great, but I still want help.

Help text is available and accessible for every question on the FAFSA if you apply online at www.fafsa.ed.gov. You can

also get free live help online via this website.

Contact the Federal Student Aid Information Center: 1.800.4.FED.AID (1.800.433.3243) for assistance with any

questions you have regarding your FAFSA!

The Scholarship Foundation of St. Louis is offering a free FAFSA Completion Clinic on February 6, 2016 (9:00am-

12noon). Please call our offices, 314.725.7990, to schedule an appointment.

Take advantage of the Missouri Department of Higher Education’s FAFSA Frenzy in 2016! Here is a list of local

sites, dates, and times! All FAFSA Frenzy events are free and open to the public!

Bayless High School: Thursday, February 4, 2016 (4:00-7:00pm)

Carnahan High School of the Future: Wednesday, February 9, 2016 (5:30-7:00pm)

Cleveland NJROTC High School: Thursday, February 18, 2016 (6:00-8:00pm)

Clyde C. Miller Career Academy: Tuesday, February 2, 2016 (6:00-8:00pm)

ESOL Bilingual Migrant Program: Wednesday, March 9, 2016 (5:00-7:00pm)

Fontbonne University: Sunday, February 29, 2016 (1:00-4:00pm)

Gateway Science Academy: Friday, February 5, 2016 (6:00-8:00pm)

Gateway STEM High School: Thursday, February 11, 2016 (5:30-7:30pm)

Hancock High School: Wednesday, February 24, 2016 (3:00-6:00pm)

Harris-Stowe AT&T Library & Resource Center: Sunday, February 28, 2016 (12noon-2:00pm)

Hazelwood East High School: Tuesday, February 16, 2016 (5:00-8:00pm)

Hillsboro High School: Monday, February 22, 2016 (6:00-8:00pm)

Jennings High School: Wednesday, February 24, 2016 (6:00-8:00pm)

McCluer High School: Tuesday, February 9, 2016 (5:00-8:00pm)

McCluer North High School: Friday, February 5, 2016 (3:00-7:00pm)

McCluer South-Berkeley High School: Monday, February 8, 2016 (5:00-7:00pm)

Potosi High School: Sunday, February 28, 2016 (2:00-4:00pm)

Pride St. Louis: Sunday, February 28, 2016 (11:00am-4:00pm)

Ritenour High School: Sunday, February 28, 2016 (2:00-4:00pm)

Riverview Gardens High School: Wednesday, February 10, 2016 (5:00-8:00pm)

St. Charles Community College (TECH Building): Sunday, February 28, 2016 (2:00-4:00pm)

St. Louis Community College Harrison Ed. Center: Tuesday, March 8, 2016 (5:00-7:00pm)

St. Louis Community College Meramec: Sunday, February 28, 2016 (12noon-2:00pm)

Silex High School: Tuesday, January 19, 2016 (5:00-8:00pm)

Soldan International Studies High School: Thursday, February 18, 2016 (4:00-7:00pm)

South Technical High School: Thursday, March 3, 2016, (6:00-7:30pm)

St. Clair High School: Saturday, February 6, 2016 (2:30-6:00pm)

Sullivan High School: Sunday, February 28, 2016 (2:00-5:00pm)

Sumner High School: Thursday, February 25, 2016 (4:00-7:00pm)

University City High School: Tuesday, February 23, 2016 (5:00-7:00pm)

Vashon High School: Sunday, February 28, 2016 (4:00-7:00pm)

Webster University: Sunday, February 28, 2016 (2:00-4:00pm)

For more information on FAFSA Frenzy Sites, please visit www.dhe.mo.gov/ppc/ffsites.php.

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2016-2017 FAFSA Checklist

Complete the FAFSA (Free Application for Federal Student Aid) at www.fafsa.ed.gov to apply for federal, state,

and college-based financial aid.

Dependent students must include parents’ information on the FAFSA. To determine your dependency status,

see dependency status worksheet.

REQUIRED INFORMATION WHERE TO FIND IT

2015 Federal Income Tax Forms and, Personal records or call the IRS at

If applicable, Schedule K-1 (Form 1065) 800-829-1040—allow 10 days processing.

2015W-2 Forms Personal records or contact your employer(s) or

call the IRS at 800-829-1040

Federal Student Aid (FSA) IDs Create FSA ID Username and Password

https://fsaid.ed.gov/npas/index.htm

Student’s driver’s license number Personal records

Social Security Number (both student and parent) Personal records or call the Social Security

Administration at 800-772-1213

Birth date (for both parents and student) Personal records

Date you or your parents were married, separated, Personal records

divorced, or widowed.

Current (day of FAFSA filing) cash and Personal records or from your bank

checking/savings account balances.

Current investment values (stocks, savings bonds, Statements from the financial institution

mutual funds, CDs) excluding parent’s home and

retirement plans.

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2016-2017 Dependency Checklist

Dependency Status Questions Answer the following questions to determine your dependency status for the FAFSA. Were you born before January 1, 1993?

Yes No

Are you married?

Yes No

Will you be enrolled in a master’s or doctorate program at the beginning of the 2016-17 school year?

Yes No

Are you a veteran of the U.S. Armed Forces or currently serving on active duty?

Yes No

Do you have children who will receive more than half of their financial support from you?

Yes No

At any time since you turned age 13, were both your parents deceased, were you in foster care, or were you a dependent or ward of the court?

Yes No

Are you or were you an emancipated minor as determined by a court in your state of legal residence?

Yes No

Are you or were you in legal guardianship as determined by a court in your state of legal residence?

Yes No

At any time on or after July 1, 2015, were you homeless?

Yes No

If you answer “no” to every question, you are dependent and must provide parental information on the FAFSA. If you answer “yes” to any question, you are independent and should not include parental information on the FAFSA.

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Teresa Stock Steinkamp, LMSW

Advising Director

The Scholarship Foundation of St. Louis

p. 314.932.6932

f. 314.725.5231

teresa@sfstl.org

@tstockstein www.sfstl.org

Teresa Stock Steinkamp, LMSW

Revised November 2015