The Free Application for Federal Student Aid (FAFSA) has been available since October 1, but that doesn’t mean it’s too late to apply! You can still apply to receive federal and state student aid in the form of grants, work-study and loans by submitting your FAFSA. Many students don’t apply at all and forgo FREE money for college! Below are some common reasons students miss out on financial aid.
Myth: If I’m not poor, very smart or super-talented, I won’t qualify for financial aid.
Reality: While it is true that the FAFSA is a need-based program, there are many factors other than income that go into the calculation. You never know if you qualify unless you apply. Plus, the FAFSA is used for more than just federal aid. Many universities and foundations require that you complete a FAFSA to be eligible for their scholarships.
Myth: I have several scholarships lined up, so I don’t need to submit a FAFSA.
Reality: College expenses include more than just tuition and fees – don’t forget about, books, room and board and transportation, among other potential costs. Submit your FAFSA to explore other funding possibilities in the event that your scholarships don’t cover all of your costs. You can always turn down aid that’s offered to you.
Myth: I’m going to pay my own way through college, so there’s no need to complete a FAFSA.
Reality: Paying your own way through college is a great plan, and completing the FAFSA could allow you to keep more of that money in your pocket. Applying for federal aid has become easier and can significantly reduce your financial burden. A few minutes of your time is definitely worth the potential for thousands of dollars in aid.
Complete your application for federal student aid today at FAFSA.gov!
Completing the FAFSA is just the first step in applying for financial aid. After your application has been processed, you’ll receive a Student Aid Report (SAR). The SAR is a summary of all the information you entered on the FAFSA form. Included in the report will be your Expected Family Contribution (EFC), a number that helps determine your financial aid eligibility. When you receive the SAR, review it and make any necessary changes. You can make changes by logging into FAFSA.gov, accessing your original FAFSA application, and correcting your information. Don’t forget to resign and submit! Once you’ve updated your FAFSA, your SAR will be sent to the schools that were listed on your application. If you’re selected for verification, schools will ask you to provide more documentation to confirm that you reported the correct information. Be sure to submit documents as soon as possible to the financial aid office.
Colleges and universities will eventually send you award letters, notifying you of the amount of financial aid they’re able to offer you. Most award letters will be sent electronically, while a few others might come in the mail. Ask your campuses or choice how their notifications will be sent. The award letters will also tell you the cost of attendance. Carefully review those letters and only accept the aid you need. Always accept free money first: grants and scholarships. If you need to take out a student loan, only accept the amount you need to cover the cost of attendance. Be sure to compare different schools’ award letters as well. Consider the financial aid packages and the campus environment to decide which would be the best fit for you.
Follow up with every campus you received an award letter from and let them know how much of the financial aid package you would like to accept. Check for deadlines! Each award letter will ask you to respond by a certain date or you could lose the aid offered. Remain in constant contact with the financial aid office to make sure you take all necessary steps to secure your financial aid award.
It’s FAFSA time, so make it a priority to submit yours ASAP. The Free Application for Federal Student Aid (FAFSA) for the 2019-20 academic year became available October 1. The fall semester of 2019 seems far away, so why should you submit your FAFSA this early? Here are three good reasons:
Some forms of financial aid are first-come, first-served. When this type of aid is gone, you may have to wait for the next school year to apply for it again. Examples of this type of aid are the Oklahoma Tuition Aid Grant (OTAG) and scholarships offered by the college or university where you’re enrolling (institutional aid).
More and more colleges and universities are setting early enrollment and institutional scholarship deadlines in November and December. During the application process, they’ll want to know if you’ve submitted your FAFSA.
It’s not uncommon for a scholarship committee to ask for a copy of your Student Aid Report (SAR), which you receive after you submit your FAFSA. Completing your FAFSA early ensures that you won’t miss important deadlines.
Students in 8th, 9th or 10th grade: Don’t miss this very important deadline!
If you’re interested in applying for the Oklahoma’s Promise (OKP) scholarship, don’t wait until it’s time to submit your FAFSA! The deadline for submitting your OKP application this year is July 2, 2018.*
To enroll in the Oklahoma’s Promise program, you must be:
An Oklahoma resident
Enrolled in the 8th, 9th or 10th grade in an Oklahoma high school (homeschool students must be age 13, 14 or 15); and
A student whose parents earn $55,000 or less per year.
Special income provisions may apply to:
Children adopted from certain court-ordered custody and children in the custody of court-appointed legal guardians
Families receiving Social Security disability and death benefits.
To apply now or to learn more about the program, visit okpromise.org.
*Note: Any 2017-2018 application not submitted by the application deadline of July 2, 2018 will be removed from the system. Students who will be in the 8th, 9th or 10th grade in 2018-2019 will have to start a new application when it is available. High school sophomores who have not submitted their applications by July 2, 2018 will not be eligible for the program.
So you’re finishing up your senior year of high school and about to transition to life as a college student. It may be tempting to use your summer break as a time to relax and recover from your final year of high school, but it’s important to begin prepping for your upcoming college experience.
If you haven’t already filled out the FAFSA, it’s not too late. You will need to complete the 2018-19 form if you are starting classes in the fall of 2018. It can take a couple weeks for your college to send you your financial aid award letter, so complete your FAFSA as soon as possible.
The summer is also the perfect time to apply for scholarships. Use some of your extra time to complete scholarship applications. The more scholarships you apply for, the better your chances are of winning! Don’t forget about scholarships provided by your college or university, too. For more information on those, call the campus financial aid office. You can also find a list of scholarships at UCanGo2.org and OKCollegeStart.org
If you will be living on campus, you can use the summer to start coordinating dorm needs with your roommate. You should also take a look at the school’s website to start reviewing potential associations, clubs or activities to join. Make sure you don’t overextend yourself, though; transitioning successfully from high school to college takes focus.
When the FAFSA’s release date was moved to Oct. 1 in 2016, the rules about which year’s tax information to use were also updated. As a result, applicants use tax information that is likely already filed. This means no waiting on your next W2 to complete or update the FAFSA! Use the chart below to find out which FAFSA and which tax year are right for you.
Once the FAFSA you need is available, it can be completed online at fafsa.ed.gov.
The 2018-19 Free Application for Federal Student Aid is now ready for you at FAFSA.gov! Whether this is your first or 10th time completing the FAFSA, we offer a wide variety of information to help families along the way. Check out our resources section for more tools, publications and helpful external websites.
If you’re completing a FAFSA for the 2018-19 school year, there are some requirements you should be aware of. One of them is the FAFSA release date. This form becomes available on Oct. 1 annually, which allows you to fill out the FAFSA earlier than in past years and possibly learn your financial aid eligibility a little earlier, too.
Another change to the FAFSA that happened last year allows students and families to complete this form using tax information that should already be completed, eliminating the need to update your tax information on your application once your taxes have been filed. Since the 2018-19 FAFSA, released on Oct. 1, requires you to use your 2016 tax information, you can pull out your 2016 return and complete your application at FAFSA.gov right away! The sooner you apply after Oct. 1, the better!
If you’re unsure when to complete the FAFSA or about the correct tax information to be used, check out the chart below.
Also, to complete and submit the FAFSA online, students and parents will both need to create an FSA ID (Federal Student Aid ID) at FSAID.ed.gov. This username/password serves as your signature on the FAFSA and student loan applications and allows you to access other federal aid websites. It is beneficial for families to create their FSA IDs before starting the FAFSA in order to speed up the application process. Once the FAFSA is available, it can be completed online at fafsa.gov.
Oct. 1 is quickly approaching, and we all know what happens then, right? The 2018-2019 Free Application for Federal Student AID (FAFSA) opens! Take these steps now to prepare.
Create your FSA ID. The Federal Student Aid ID is a username and password used to electronically sign your FAFSA and complete other important financial aid paperwork. The student and one parent will each need their own FSA ID. Be sure to keep track of the username and password you create. You’ll use your FSA ID for years to come, so be sure to use a personal email account when creating your FSA ID. You may not always have access to your school issued email account in the future.
Gather your tax information. The 2018-2019 FAFSA will request 2016 tax information. Take the time now to locate 2016 income and tax information for both the student and parent(s). The IRS Data Retrieval Tool will be available for students and parents to transfer tax information directly from the IRS into the FAFSA. However, it will still be important to have your tax documents with you when you complete the FAFSA.
Think about where you’re headed. You’ll have the opportunity to send your FAFSA to up to 10 schools you’re considering attending. Keep in mind you can log back into your FAFSA to add and remove schools if your plans change. Check out OKcollegestart.org to learn more about schools that would be a good fit for you and your goals.
Ask questions. If you have special circumstances that you believe impact your ability to complete the FAFSA, ask for guidance now! Ask us by clicking on “Email Us Your FAFSA Question!” on the right side of this page. You can also contact your high school counselor or the financial aid office at your college to discuss your situation.
Completing the FAFSA is an important step toward funding your education after high school. Be sure to complete the application as soon as possible after Oct. 1!
Before you get too far into summer mode, break out your calendars one last time. June 30 is a very important scholarship deadline you don’t want to miss! Students in the eighth, ninth or 10th grades must submit their Oklahoma’s Promise scholarship applications by June 30, 2017.
For those of you who just completed 10th grade, June 30 is your final deadline to apply. Don’t miss out on thousands of dollars in scholarship funds by missing this deadline! Submit your application right away.
To learn more about Oklahoma’s Promise and the qualifications for receiving the scholarship, visit okpromise.org.
What you need to know about submitting the Free Application for Federal Student Aid