Some of the language of the FAFSA (Free Application for Federal Student Aid) may be unfamiliar to you. There are plenty of FAFSA acronyms you may not recognize. To help you decode FAFSA language, here are a few acronyms to familiarize yourself with as you go through the college financial aid process.
- COA – Cost of Attendance (COA) is an estimate of the educational expenses for a particular college or university. The amount includes tuition, fees, room and board, books and supplies, and miscellaneous expenses. Every school will have a different COA, but schools will list their COA on the award letters they send to students.
- DRN – A Data Release Number (DRN) is a number that is assigned to your FAFSA. The DRN will help financial aid officers and customer service representatives locate your application and make changes, if necessary. You can find your DRN in the upper right hand corner of your Student Aid Report (SAR) or on your FAFSA confirmation page.
- DRT – The IRS Data Retrieval Tool (DRT) is a part of the Financial Information section of the FAFSA form. It allows you to transfer your tax return figures from IRS.gov onto your FAFSA application. Instead of manually entering tax data on the form, use the DRT to automatically enter the information. The tool connects to IRS.gov and locates the correct tax return. Once you click the “transfer now” button, the IRS will transfer your information into FAFSA.gov. Questions that have been answered by the DRT will populate with this response: “Transferred from the IRS.”
- EFC – An Expected Family Contribution (EFC) is a number that’s used by financial aid offices to determine your federal student aid eligibility. All the information you report on the FAFSA helps calculate your EFC. The EFC is not the amount you’ll have to pay for school or how much aid you’ll receive. It’s a number that helps financial aid offices calculate your financial aid package.
- FSA ID – A Federal Student Aid Identification (FSA ID) is your username and password for filling out the FAFSA. It also serves as your electronic signature on the application. This ID allows you to return to the application at a later date, utilize the Data Retrieval Tool and access your financial aid history. The student and one parent will need an FSA ID.
- SAR – A Student Aid Report (SAR) is a form that you’ll receive after you’ve submitted your FAFSA. It’s a summary of all the information you entered on the application and a general overview of your federal student aid eligibility. You may receive a paper or electronic version of your SAR. You can always access it by logging into FAFSA.gov with your FSA ID. It will also report your EFC.