The FAFSA asks you to provide information about your family and their income. What if something has happened that now makes the data you submitted incorrect? You may need to update your FAFSA if any of the following have changed:
- You got married
- Your parents got divorced
- Your parent or sibling died
- You or your parent lost a job
- Your family incurred major medical expenses
Other changes, such as sending your FAFSA results to a different college or making revisions to your income tax paid, can be easily corrected online at FAFSA.gov. The items mentioned above, however, should be discussed with your financial aid administrator. Additional documentation may be required before certain questions on your FAFSA can be changed.
If you have questions, talk to your school’s financial aid office. They’re your best resource throughout the entire financial aid process.
What’s a SAR? If you’re not sure, you’d better keep reading!
After you complete your FAFSA, you should receive a Student Aid Report (SAR) from Federal Student Aid. This document will be sent to the email address you supplied on your FAFSA, usually within a few days after you submit the FAFSA. If you haven’t seen it in your inbox yet, be sure to check your spam or junk mail folders.
The SAR contains all data reported on your FAFSA. Read your SAR carefully to make sure all of your information is correct. Most errors can be fixed through your FAFSA online at FAFSA.gov. If there is an error in a field you can’t access, call the Federal Student Aid hotline at 1.800.4 FED AID (1.800.433.3243), or send your question to FederalStudentAidCustomerService@ed.gov. You should receive an answer to your email within one business day.
Your SAR will also tell you if your FAFSA has been selected for verification. If it has, you’ll be given instructions about what to do next. Supplying the information required for verification is mandatory. You can’t receive federal financial aid until the verification process is complete.
Reading your SAR lets you know what’s going on with your financial aid application before you visit a financial aid office. It can help you prepare for your visit by having any necessary documents with you when you arrive. This will save time and reduce the number of visits you’ll have to make to the financial aid office. That’s a win-win situation for everyone!
Are you looking for scholarships? How about tips for preparing for college? Visit us at Facebook.com/UCanGo2 and “Like” our page to receive college planning tips and tools, as well as scholarships, right in your news feed!
Have a safe and happy holiday.
We’re pleased to announce we’ve redesigned our website at UCanGo2.org! The refreshed look and enhanced navigation are designed to help students and parents quickly find the information they need to plan, prepare and pay for college.
Be sure to check out our scholarship section to find our scholarship of the week and to search for scholarships by deadline or category.
High school students: Are you counting the days until your school year is over? Of course you are! But don’t let your summer bliss distract you from one very important deadline. Students in the 8th, 9th or 10th grade must submit their Oklahoma’s Promise scholarship applications by June 30, 2015.
Sophomores, June 30 is your final deadline. Any application not submitted by this deadline will be removed from the application system, and you could miss out on thousands of dollars in scholarship funds that do not have to be paid back. Don’t make this costly mistake! Submit your application right away.
To learn more about Oklahoma’s Promise and the qualifications for receiving the scholarship, visit OKPromise.org and check out the 2014-2015 Application and Instructions.
If your student needs your information for the FAFSA, you’ll need to create an FSA ID separate from your student’s FSA ID. You can create an FSA ID, consisting of a username and password, at FSAID.ed.gov. As a parent, your FSA ID will allow you to electronically retrieve your tax information and sign your student’s FAFSA. If you have more than one child completing the application, you can use the same FSA ID for all applications.
After you’ve created an FSA ID, you can update your information on your student’s FAFSA by choosing the option to “Enter the student’s information” from the FAFSA login page. We recommend you create an FSA ID before accessing your student’s FAFSA to help avoid additional steps in the login process.
To learn more about the FSA ID process visit studentaid.gov/fsaid.
Federal Student Aid (FSA) has officially done away with the PIN system. The fastest and easiest way to create a new FAFSA, or to access an existing application, is to first create an FSA ID consisting of a username and password. We recommend you take this step first to avoid additional steps later.
To create an FSA ID visit FSAID.ed.gov, OR from FAFSA.gov:
- Choose “Start a New FAFSA” or “Login” from the home page.
- Then, select “Enter your (the student’s) FSA ID,” and click the link to “Create an FSA ID”.
- From there, follow the prompts to create a secure username, password and security questions with answers that you’ll remember. For faster processing, be sure to enter your information exactly as it’s registered with the Social Security Administration (SSA).
For more information about the switch from PIN to FSA ID, check out our last post.
Beginning May 10, 2015, Federal Student Aid will require both new and existing users to create an FSA ID consisting of a username and password to access the following websites: FAFSA on the Web, The National Student Loan Data System, Federal Direct Consolidation Loans, Federal Student Aid and Agreement to Serve. The FSA ID will be used to replace PINs.
Use the following steps to create an FSA ID:
Step 1: When logging in to one of the websites listed above, click the link to create an FSA ID. Only the owner of the FSA ID should create and use the account. Never share your FSA ID.
Step 2: Create a username and password, and enter your email address.
Step 3: Enter your name, date of birth, Social Security number, contact information, and challenge questions and answers.
Step 4: If you have a Federal Student Aid PIN, you will be able to enter it and link it to your FSA ID. You can still create an FSA ID if you have forgotten or do not have a PIN.
Step 5: Review your information, and read and accept the terms and conditions.
Step 6: Confirm your email address using the secure code, which will be sent to the email address you entered when you created your FSA ID. Once you verify your email address, you can use it instead of your username to log in to the websites.
For more information about this change, please visit https://studentaid.ed.gov/fafsa/filling-out/pin#fsaid-intro.
It’s award letter season! If you submitted your FAFSA and responded to all requests for information from your college of choice, you should soon receive a financial aid award letter. This letter, which may arrive by email or snail mail, shows the different types of financial assistance you’re eligible to receive to help cover your college expenses. If you haven’t received your letter yet, check with your school to find out how they will send it you. Follow these steps when it arrives:
- Read the letter and make sure you fully understand each type of financial aid you’re offered.
- Know the cost of your school and, if you are still considering more than one, compare the schools’ award letters.
- Decide how much and which types of financial assistance to accept or reject.
- Accept grants and scholarships first, because they’re considered free money and typically don’t have to be repaid.
- Loans will have to be repaid. Beyond grants and scholarships, only accept the loans you’ll need to cover your college costs. You don’t have to accept the entire amount offered and, if necessary, you can usually apply for remaining loan funds later in the academic year.
- Submit your response on time. Many award letters have deadline dates, so pay attention to the details.
For questions about financial aid, visit the U.S. Department of Education’s website at www.studentaid.gov or contact your school’s financial aid office.