The FAFSA must be completed each year if the student remains enrolled in college and is seeking
financial assistance. The FAFSA is available in both English and Spanish
versions. Forms are available from the counselor’s office at your high
school, college financial aid office and ISAC.
All students who wish to be considered for financial assistance should
complete the FAFSA, but the college* to which you are applying may require
that you complete a supplemental form. You must check with the financial aid
office at the college you are planning to attend to make certain you have
completed all the required forms and that you meet whatever deadline they
may have for submitting those forms.
For the 2008-2009 academic year, you may obtain a paper FAFSA
earlier than January 1, 2008, but you must not sign or send it in before
January 1, 2008; the FAFSA on the Web version will be
available after January 1, 2008.
Q2. I received an e-mail notification that my “Renewal FAFSA” is
available online at www.fafsa.ed.gov. What am I supposed to do with it?
A2. The Renewal FAFSA is used by continuing college students to
update the financial information provided on last year’s FAFSA, instead of
completing a new FAFSA. The only students who will receive a Renewal
FAFSA e-mail notification are those who have completed a FAFSA
the previous year and have a valid e-mail address. Go to FAFSA on the Web,
make changes in the appropriate column complete the process by using your
(and your parent if your are dependent) PIN number(s). The Renewal FAFSA
should not be completed until after January 1, 2008, for the 2008-2009 academic year. Contact the financial aid office at the college
you plan to attend if there are any questions.
Q3. What is a PIN and how do I get one?
A6. A PIN is a Personal Identification Number. It is used instead
of a signature when completing FAFSA on the Web or using
Corrections on the Web. A PIN may also be used as part of the
signature process for Federal Stafford Loan and a Federal Perkins Loan.
You may apply for a PIN by accessing
www.pin.ed.gov.
You must complete all the questions to receive a PIN.
Another way to receive a PIN is by completing the FAFSA using
FAFSA on the WEB, and by signing and sending the signature page to
the Central Processing Service (CPS).
You will receive your PIN information by mail in approximately 7-10 days.
As of January 1, 2002, PINs are being sent electronically to those who provide an e-mail
address.
Q4. What is the deadline for submitting the FAFSA?
A4. Your deadline can vary depending on federal and state programs.
- Your FAFSA for 2008-2009 must be processed by June 30, 2009 for
federal consideration.
- Priority consideration dates for the State of Illinois Monetary
Award Program (MAP) grant are:
- for first-time applicants – FAFSA receipt date must be no later
than September 30, 2008; and
- for continuing applicants – the FAFSA receipt date must be no
later than August 15, 2008.
However, due to limited funding, students should apply as early as
possible.
*When a reference to “college” is made, it means the school you will
attend for your postsecondary education, whether that is the college, university, community college, technical, trade or vocational
school.
Q5. If I am not a U.S. citizen, what documentation am I required to
provide in order to be eligible for federal and state financial aid programs?
A5. If you are a permanent resident, you must provide a current “Alien
Registration Receipt Card” Form I-551 or I-551C. You may also provide your passport that is
stamped “Processed for 1-551” or “Temporary Form I-551.” Other eligible non-citizens
must provide “Arrival-Departure Record” Form I-94. If you are neither a citizen nor an
eligible noncitizen, you are not eligible for federal student assistance.
Q6. How much time elapses before I am notified of the amount of
financial aid that I may receive?
A3. The time between application and response varies depending upon
your college’s policies. Call your financial aid office for more
information.
Q7. What if my parents’ taxes are not completed by the college’s deadline
to apply for aid?
A7. You can use an estimate of income and taxes to file the FAFSA;
however, you may have to provide completed federal income tax
information before actual awards will be made. You should check with the college you plan to attend for their verification requirements.
Q8. My parents are divorced. I live with my mother, but my father claims
me on his tax return. How do I apply for financial aid?
A8. Complete the FAFSA with your information and your mother’s
information. Only the parent you lived with most in the last 12 months is required to supply the necessary
financial information. If you did not live with one parent more than the other, answer in terms
of the parent who provided the most financial support during the last 12 months, or during
the most recent calendar year that you actually were supported by a parent.
Q9. My parents are divorced. My mother is remarried and my stepfather
hasn’t adopted me. Is my stepfather required to supply his financial aid information when I apply
for aid?
A9. Yes. Since your mother and stepfather are married at the time you
complete the FAFSA, you must include information about your stepfather. On the FAFSA, you need to
report your parent’s marital status as “married”.
Q10. My sister applied for financial aid last year but didn’t receive any
aid. Is it worth it for me to apply for aid this year?
A10. Absolutely. Your sister should reapply for aid as well. With two
family members in college, your family will incur greater educational costs; also other family
circumstances or eligibility criteria may have changed. Another factor to consider is that costs and Financial
Aid policies vary at different schools which may result in aid being
available to you.
Q11. My brother is 27 years old and lives at home. Should he be included
in the household size?
A11. Family members should be included in the household size only if your
parents can verify that they provide more than half the support for the individual.
Q12. I don’t live at home with my parents. Does this mean I am an
independent student?
A12. Not necessarily. You will be considered a dependent student for the
2008-2009 academic year unless you were born before January 1, 1985, are an
orphan or ward/dependent of the court, a veteran of the U.S. Armed Forces*,
a student working on a master’s or doctorate degree, a married student, or a
student who has legal dependents (other than spouse) who live with you and
who receive more than half of their support from you. However, check with
the Financial Aid Administrator at the college you plan to attend if you
feel you have a unique situation that does not meet one of the above
criteria.
*The Higher Education Reconciliation Act of 2005 (HERA) expands the
definition of an independent student to include individuals currently
serving on active duty in the Armed Forces for other than training
purposes.
Q13. If I am an emancipated minor, is my dependency status independent?
A13. The status of emancipated minor is not recognized by the Department
of Education for financial aid purposes. In order to have a dependency status of independent, a
student must answer one of the dependency status questions on the FAFSA with “yes”.
Q14. I live with my parents and have a child. Am I considered
independent?
A14. If you are currently providing more than one-half of the support to
your child and will continue through June 30, 2007, you are considered independent. If your parents are
providing more than one-half of the support for your child, you are not considered independent
Q15. I live with my grandparents, who are my legal guardians. Should I
use their income information on my financial aid application?
A15. No. Effective since the 2002-03 FAFSA, the term “legal guardian” has
been eliminated. The definition no longer allows the automatic inclusion of a legal guardian as parent.
A student whose parents are deceased will be considered independent regardless of any legal
guardianship. A student whose parents are living continues to file as a dependent student, but the FAFSA must
reflect the financial information of the appropriate parent rather than that of a legal guardian, unless
the financial aid administrator exercises professional judgment.
Q16. My mother is thinking about taking college classes. Will I receive
more aid if my mother is in college?
A16. Parents are not included in the number in college; therefore, your
mother taking classes will not impact the amount of financial aid you receive.
Q17. My father refuses to complete an application for assistance with his
financial information. What should I do?
A17. If you do not meet the requirements for an independent student, it
is essential that your parent(s) complete an application for aid with their financial information in
order for you to be considered for state and federal assistance. Explain
this to your father. If all else fails, contact the Financial Aid
Administrator at the college you plan to attend. Many times the
Financial Aid Administrator can explain to parents that this information
is necessary and will be kept strictly confidential.
Q18. Since I applied for aid, my father got a new job. He isn’t going to
earn as much money from his new job as he did from his previous job. Can I receive more financial
aid?
A18. Contact the financial aid office at the college you plan to attend.
The Financial Aid Administrator will want to review your situation and can then make a decision regarding
your financial aid award.
Q19. My friend got more financial aid than I did, and I don’t understand
why. Her parents make more money than my parents.
A19. There are many reasons why your friend could have received more
assistance. For example, the college she is attending may have more aid
to offer or may have a higher cost of attendance. There may be more
family members in the household that her parents are supporting. She may
have earned less money from working than you did. Her family might have
experienced unusually high medical expenses. These and other differences
in family situations could cause two students to receive different
amounts of financial assistance. Whatever the reason(s), keep in mind
that each student’s financial aid package is designed especially for
that individual.
Q20. I don’t know which college I’m going to attend. Should I send a
Student Aid Report (SAR) to each college that I apply to?
A20. Not all colleges require a SAR; check with the college(s) you plan
to attend for requirements. All schools that you list on the FAFSA will receive an Institutional
Student Information Record (ISIR). You may need to provide a copy of your SAR to a college that was not
one of your six choices on your FAFSA. You may request duplicate SARs
from the Federal Student Aid Information Center at 1-800-433-3243.
Q21. What do I do if my SAR contains incorrect information?
A21. You can make corrections to your SAR by utilizing the
FAFSA
on the Web website. You will need your (and your parent if you are
dependent) PIN number(s) to process your corrections. Another way to
make corrections would be to use Part II of your SAR, contact your
financial aid office to see if they can process your correction(s)
electronically.
Q22. How long does it take to receive my SAR?
A22 To expedite the filing process, you may file using
FAFSA on
the Web at www.fafsa.ed.gov in order to receive results in one or two weeks. If you file a paper FAFSA, you
should receive your SAR within four to six weeks. If you have not received it by then, contact
Federal Student Aid Information at 800-4-FED-AID or 319-337-5665 to check the status of your application
or to request duplicate copies of your SAR.
Q23. What impact will dropping classes have on my financial aid?
A23. If you reduce the number of hours for a semester, your account will
be adjusted accordingly. Please refer to your refund policies for further clarification. Your financial
assistance may be reduced or, in some cases, cancelled.
Q24. What is the difference between the Federal Family Education Loan
Program (FFELP) and the Federal Direct Loan Program (FDSLP)?
A24. Federal Direct Loans have the same general terms, conditions,
interest rates, benefits and loan amounts as loans made to borrowers under FFELP. The primary
difference between the Federal Direct Loan Program and FFELP is that the federal government, not
private lending institutions, funds the Federal Direct Loan Program. Check with the
college/university you plan to attend to determine the loan program in
which the college participates.
Q25. Do I have to go to a lending institution to get an application for a
student loan?
A25. It depends on the school you attend, since some schools participate
in the Federal Direct Loans program, in which loans are made by the college. Lending institutions participate
in FFELP. In either case, the financial aid office will have all the necessary forms needed to apply
for a student loan. In addition, the financial aid office will be able to tell you how much money you will be
eligible to borrow.
Q26. What is the Master Promissory Note?
A26. The Master Promissory Note (MPN) is the legal document that
is signed which is required to receive a Federal Stafford loan and the Federal PLUS loan. It has
replaced the Application/Promissory Note. In many cases, you may only sign one promissory note that may
be used for all of your Federal Stafford loans.
Q27. Can I complete the MPN electronically since I can complete the FAFSA
electronically?
A27. Yes. The federal PIN process and other electronic signature
processes allow a borrower to electronically sign for his/her student loan. The electronic
signature is the same as signing the paper document. Contact the financial aid office to find out if the
school works with preferred lenders for FFELP or uses the Federal Direct Student Loan Program. For
the Federal Direct Student Loan Program, the student may use the PIN process to complete the MPN
online. If the school has preferred FFELP lenders, the financial aid office will advise you if an
electronic signature process is in place for those lenders.
Q28. I am planning to attend a school which participates in Federal
Direct Loan Program. Do I have to borrow a Federal Direct Loan, or can I borrow a FFELP loan through a
local lender?
A28. You need to discuss that with the financial aid office at the
school you plan to attend. Colleges may participate in both the FFELP
and the Federal Direct Loan Program. The college will decide the program
in which they will certify a student’s loans. It’s also important to
keep in mind that you will be allowed to borrow under only one program,
the Federal Direct Loan Program or FFELP, during a period of enrollment.
Q29. How do my parents apply for a Federal PLUS Loan?
A29. If your school participates in FFELP, your parent(s) may obtain
a Federal PLUS Loan Master Promissory Note/Application (MPN) from a participating lending institution. If the
college has chosen to participate in the Federal Direct Loan Program, your parents need to contact the
financial aid office for this information.
Your parents should check with your college’s financial aid office to
find out whether they require additional documents. Many colleges will require the student to complete
the FAFSA to apply for a Federal PLUS loan, as well as an institutional application.*
Q30. Do I have to complete a financial aid application before applying
for an unsubsidized Federal Stafford Loan?
A30. Yes. Even though eligibility for the unsubsidized Federal
Stafford loan is not based on financial need, the Financial Aid Administrator must first determine
your eligibility for other financial aid, such as the subsidized Federal Stafford loan, before certifying
an unsubsidized loan. You may be eligible for grant and scholarship aid
or a subsidized Federal Stafford loan, so it is important to be
considered for these other programs before applying for an unsubsidized
Federal Stafford loan.
Q31. Besides completing the FAFSA, are there other sources to help me
locate financial aid funds?
A31. There are many Web sites available that provide information on
college financing. You may view the following Web sites for more information:
www.collegezone.com
www.ed.gov/index/jhtml
www.finaid.org
www.mapping-your-future.org
www.collegeboard.com
www.studentaid.ed.gov/students/publications/student_guide/index.html
Q32. How do I apply for Private Scholarships?
A32. Start your search locally. Many private scholarships can be obtained
by contacting various organizations in your city/town such as Rotary or Elks clubs. Check
with your employer and/or your parent’s employers to see if they offer any scholarships to
employees or dependents of employees. Other resources accessible to students include books
available in many public libraries, local clubs and organizations. Check with the financial aid office
at the college/university you plan to attend for additional scholarship information.
Q33. I have been offered a private scholarship. What should I do now?
A33. When you receive a scholarship, review the letter announcing the
scholarship to see what you need to do in order for the money to be sent. Do you need a letter from the
College confirming your enrollment? Do you need a copy of the grades from your first semester?
Follow the steps outlined in the letter and provide a copy of it to our office.
*The U.S. Department of Education (ED) is considering a regulation
requiring all parents to file a FAFSA in order to apply for Federal PLUS Loan.
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