FAFSA Learning Modules

The FAFSA (Free Application for Federal Student Aid) is an important part of preparing for college. This form serves as your application for all types of federal and most state financial aid. High school seniors should complete the FAFSA in October of their senior year and then each year thereafter to request funding for their college education.

Understanding the FAFSA, however, can be challenging. To assist students, parents, and others completing this form, check out our new FAFSA Learning Modules. We’ve assembled five modules on the following topics.

  • Module One: Gather Your Information
  • Module Two: Create an FSA ID
  • Module Three: Complete Your FAFSA
  • Module Four: Sign and Submit
  • Module Five: Follow Up

These short PowerPoint modules offer detailed information on completing the FAFSA from start to finish. Links are also provided for users to find additional information, publications and resources to assist them in completing the FAFSA.

You’ll find the FAFSA Learning Modules and other helpful tools on financial aid for college on the resources page.

Spring Scholarships

Congratulations! You’ve finished your college applications and submitted your FAFSA (Free Application for Federal Student Aid.) Now it’s time to find scholarships! There are thousands of scholarship opportunities available based on a variety of criteria. So where do you find these scholarships?

  • UCanGo2.org: Here you can find scholarships organized by category and deadline. There are scholarships year-round, so be sure to explore the opportunities listed on this site.
  • OKcollegestart.org: Create a Scholarship Profile! You’ll answer questions about your education, goals and more. The profile will narrow down current opportunities that you qualify for!
  • Unigo.com: There are over 3 million scholarships on this website. Opportunities are available every month and the more scholarships you apply for, the better your chances of receiving free money.
  • Your college’s website: Institutional scholarships are often available at various times throughout the year. It’s a good idea to check the scholarship listings on your college website every week.
  • Your financial aid office: Check with your financial aid office to see if there are any new opportunities available at your college. They can also help you find more scholarship resources.

Some scholarships require essays while others only require transcripts and references. Be sure to double check requirements for each scholarship before submission. For a list of additional scholarship websites, see UCanGo2’s publication  Are You Looking for Money?

Verification

After you’ve submitted your FAFSA (Free Application for Federal Student Aid), it’s possible your application could be flagged for verification. Don’t panic! Annually about 30% of all FAFSA applications are chosen for this process which means the financial aid office at your college is required to verify your data.

Verification is the process a financial aid office must complete to determine the accuracy of the information on your application. If your FAFSA is selected for verification, you may be asked to provide documentation to your college about the addresses, names or financial data you provided.

After submitting your FAFSA, monitor your email for requests for additional information and swiftly respond to those requests. Your eligibility for financial aid will not be reviewed until the verification process is complete. Follow up with the aid office to check your application status because the more you cooperate with them, the faster the process will go. Verification is the last official step before you’ll be provided with a financial aid offer. The offer will list the amount and types of financial aid you may use to help cover your college expenses. If you have questions about the FAFSA or your financial aid offer, you should contact your school’s aid office directly. They’re here to help!

Student Financial Aid Acronyms

Every profession has a unique set of acronyms used in that particular field. As you plan for college and begin to explore different ways to pay for higher education, you may come across some acronyms commonly found in the world of student financial aid. We’ve listed some here, with a brief explanation of each.

AGI                 Adjusted Gross Income – A dollar amount found on your, and/or your parents’, tax return that must be reported on your FAFSA.

CARES           Coronavirus Aid, Relief, and Economic Security (CARES) Act – A relief package passed in March, 2020 to protect the American people from the public health and economic impacts of COVID-19. The borrower benefits in the Act were extended to September 30, 2021.

COA                Cost of Attendance – The average annual cost for attending a specific college, university, technology center or proprietary school, which includes tuition, room and board, books, fees, supplies, personal expenses and transportation.

EFC                 Expected Family Contribution – A number found on your Student Aid Report (SAR) that’s used by a financial office to determine how much aid you’re eligible to receive.

FAFSA            Free Application for Federal Student Aid – A form submitted by you that is used to determine your eligibility for federal and state financial aid. One or both parents may also need to contribute their financial information.

FSA                 Federal Student Aid – The branch of the U.S. Department of Education that oversees federal financial aid disbursed to higher education institutions for students who qualify.

FSA ID            Federal Student Aid Identification – A username and password that gives you access to some of the U.S. Department of Education’s websites; it can also serve as your legal signature on the FAFSA and other electronic documents.

ISIR                 Institutional Student Information Record – A report sent to your selected college(s) that contains the data from your FAFSA.

MPN                Master Promissory Note – A document signed by you that says you promise to repay a student loan, along with any accrued interest and fees.

SAR                Student Aid Report – Contains the data submitted on your FAFSA, along with next-step instructions. Once the FAFSA is processed, you’ll receive information on how to download and print the report.

For a much larger list of the many acronyms and terms used throughout the federal financial aid process, visit StudentAid.ed.gov.

New Year, New Goals

Welcome, 2021!

Optimism is in the air! You’re ready for new beginnings and opportunities to change some habits in order to achieve your goals. In addition to health and financial goals, there are some helpful academic goals that will give you a jump start in the new year.

Federal Financial Aid: By completing the Free Application for Federal Student Aid (FAFSA), you’re investigating your eligibility for different types of federal and state financial aid to help you pay for college. The FAFSA for the 2021-22 college year is now available, so be sure to submit it ASAP at FAFSA.gov. We encourage you to “start with FAFSA,” and then continue seeking scholarship opportunities throughout the year.

Scholarships: Not sure how to start your scholarship search? Here are some ideas:

  • Check out UCanGo2.org for new scholarships by category and by deadline.
  • While you’re there, take a look at the Scholarship Success Guide to review tips for applying for scholarships and find a list of additional scholarship search websites.
  • Create a profile on OKcollegestart.org to view scholarship applications that are the perfect fit for you. It’s important to apply for as many scholarships as possible year-round, so make a habit of applying for 2-3 scholarships a week.  

Study Habits: While the FAFSA doesn’t take your grade point average (GPA) and class rigor into consideration, schools will look at them when considering your eligibility for academic scholarships as well as acceptance to their school. Your grades in college will also determine if you can maintain certain scholarship offers from year to year. To start or improve good study habits, check out the tips listed in The Perfect 10 Study Habits Guide.

Extracurricular Involvement: Many colleges will also ask if you’ve participated in any school or community programs outside the classroom. Join a club or volunteer in your community after school hours. Not only will your involvement look impressive on a college application or a resume, it will also give you opportunities to serve others and make a difference in your community. Are you already in college? Join a club or find opportunities in your community to share the skills and knowledge that you’re developing. Whether you’re still in high school or you’re headed into the career field, extracurricular involvement is an important commitment to make in the new year.

Happy New Year! Be sure to share your optimism with everyone around you!