Understanding the Free Application for Federal Student Aid (FAFSA)

The FAFSA is the first step in applying for financial aid.

• The Department of Education uses the information provided on your FAFSA to determine your eligibility for Federal student aid including grants, loans and work-study.
• Many states and colleges use the FAFSA to award non-Federal student aid including scholarships, fellowships and alternative loans.

Before Completing the FAFSA
1. First, make sure you know the deadlines for your state and school. Check with your college's Financial Aid Office to find the dates that apply.

2. Next, decide how you'll file and sign the FAFSA. You can file in one of two ways:

• On paper, submitted through the U.S. mail
• Online at fafsa.ed.gov

Before you file online, apply for your Personal Identification Number (PIN) at pin.ed.gov a few weeks in advance of completing the FAFSA.

Benefits of filing and signing online:

• Online help is available to guide you through the application process.
• Your application will be processed faster.
• Your colleges will receive your information faster.

3. Gather these documents: (If you're a dependent student, you'll need all of these for your parents as well, except their driver's licenses)

• Your Social Security card
• Your driver's license
• Your Alien Registration Receipt Card, if applicable
• Your W-2 Forms and other records of money earned in the prior year
• Your 2006 income tax return
• Records of 2006 untaxed income, including Social Security, Temporary Assistance to Needy Families, welfare and veterans' benefits
• Records of child support paid
• Records of taxable earnings from Federal work-study or other needs-based work programs
• Records of student grant, scholarship and fellowship aid that was included in you or your parents' Adjusted Gross Income from the Federal tax return
• Stock, bond and other investment records for the prior year
• Business and farm records for the prior year
• Current bank statements

4. Next, print and complete a Pre-Application Worksheet at fafsa.ed.gov, which will help you get familiar with the questions and make sure you've got all of the information that will be needed.

When you're ready, file the FAFSA electronically at fafsa.ed.gov. Or, if you're filing on paper, mail the FAFSA (pages 3 through 6) to:
Federal Student Aid Programs
P.O. Box 4691
Mount Vernon, IL 62864-0059

After You Complete the FAFSA

• The Department of Education will analyze your information, calculate an Expected Family Contribution (EFC) for you and develop a Student Aid Report (SAR).
• If you filed electronically, you will receive your SAR acknowledgment within two weeks of processing, and may go online to check and print your SAR.
• If you filed on paper, you will receive your SAR in the mail within four weeks of processing.
• The SAR (including the EFC) will be sent to the colleges you listed on your application.
• Check the SAR carefully to make sure that it's accurate.
• If you need to make corrections, go to fafsa.ed.gov or return the corrected and signed paper SAR for reprocessing.

You can check the status of your FAFSA by calling 1-800-4-FED-AID
(1-800-433-3243) or online at fafsa.ed.gov. Please wait at least 24 hours after you submit the FAFSA before checking its status.

Receiving Student Aid

Federal aid is paid to you through your college. The colleges listed on your application will send you an award letter that outlines the financial aid offer from that school.