Before you begin your Free Application for Federal Student Aid (FAFSA) —have you decided which college(s) you’d like to attend? You will have to provide at least one college choice on your FAFSA—but what if you haven’t decided yet?
One of the best resources for exploring colleges is OKcollegestart.org. Once you’ve logged in (you can create an account on the OKCS homepage), click the ‘College Planning’ tab at the top, then look for the option to Explore Postsecondary Schools. Under School Exploration Tools, choose School Finder. You’ll see a list of school characteristics at the left which can be used to narrow down your search. You can choose only one characteristic to begin, or you can choose as many as you wish to refine your search.
Once you see a table listing schools that have the characteristics you’ve chosen, click on each of the school names to compare the schools on the list. The individual school profiles will provide a wealth of information to help you determine which colleges you’d like to investigate further—school size, average cost of attendance and programs/majors offered are just a few things to check out. You can even find each college’s school code that you’ll need if you choose to add that school to your FAFSA!
Adding a college code to your FAFSA doesn’t mean you’re making any commitments to that school. It simply gives the financial aid office on that campus permission to see the data from your FAFSA, so they can determine how much financial aid you may qualify for at their school.
Give OKcollegestart.org a try! You’ll be amazed at what you’ll find there! Don’t forget to complete your 2021-2022 FAFSA as soon as possible!
Monthly Archives: October 2020
Homeless Students and the FAFSA
The Free Application for Federal Student Aid (FAFSA) asks up to three questions about homelessness. They ask if you’ve been determined as an unaccompanied youth who was homeless, or you were self-supporting and at risk of becoming homeless any time since July 1, 2020…if you’re completing the 2021-2022 FAFSA. This timeframe is based on the year prior to the academic year for which you will need financial aid for college.
The homeless determination can be given by:
- A high school or school district homeless liaison,
- A director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban Development, or
- A director of a runaway or homeless youth basic center or transitional living program.
A student is considered unaccompanied if he or she is not in the physical custody of a parent or guardian. A student is considered homeless if he or she lacks fixed, regular, and adequate housing. This includes students who are living in shelters, motels, cars, parks, or who are temporarily living with other people because they have nowhere else to go. Students are also considered homeless if they are fleeing an abusive parent who would otherwise provide the student with financial support and a place to live.
If you answer yes to any one of the questions about homelessness on the FAFSA, you’ll be considered an independent student; therefore, you won’t have to provide your parents’ income information on the application. Later, you may be asked by a financial aid administrator to provide a copy of the homeless youth determination. If you did not receive a determination provided by one of the officials listed above, you’ll be considered a dependent student on the FAFSA, but you may ask a financial aid administrator to consider making their own decision. The aid officer will probably ask you for additional documentation before reaching a decision.
When providing a street address on your FAFSA, follow these instructions given by the U.S. Department of Education: “You must provide a mailing address where you can reliably receive mail. Your mailing address can be the address of a relative or friend who has given you permission to use it, or it can be your college’s address. If you want to use your college’s address, you must contact the school for permission and instructions to ensure that your mail reaches you.” Don’t forget to update your FAFSA later when you find more permanent housing.
For more information and a list of additional resources for homeless students, read Questions and Answers: Federal Student Aid and Homeless Youth from StudentAid.gov.
We wish you the very best as you begin your journey to a bright future!
Dependent or Independent?
It’s October which means it’s FAFSA season! The Free Application for Federal Student Aid, or FAFSA, can now be accessed at FAFSA.gov. This form becomes available every October 1st and serves as your first step in applying for federal and state financial assistance for college.
The types and amounts of aid you’re eligible to receive are based on the answers you provide on your FAFSA. The information you’re required to include is also based on your answers to some very important questions that will determine your dependency status. Being considered Dependent will require that you include parental data on the FAFSA; being Independent means you will not.
Many factors determine whether a student is considered Dependent or Independent. Review our Dependency Questionnaire to see a full list of the inquiries so you can determine your status before starting the application. Here are a few questions you may be asked:
- Were you born before Jan. 1, 1998?
- What’s your marital status?
- Do you have dependents that you support?
- Are you a veteran?
- Have you been in foster care?
After your dependency status has been determined, you’ll be better prepared for the type of documentation you’ll need to complete your FAFSA. The information shown below will be required by the student if he/she’s Independent. And if the student is Dependent, both student and one parent will be required to provide this information:
- Your Social Security Number.
- Your Alien Registration Number (if you are not a U.S. citizen).
- Your 2019 federal income tax returns, W-2s, and other records of money earned. (You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.)
- Bank statements and records of investments.
- Records of untaxed income.
- An FSA ID to sign the FAFSA electronically.
For additional information on the FAFSA, check out the Resources tab and also visit UCanGo2.org. You’ll find things like the FSA ID worksheet, FAFSA instructional videos, informative FAFSA Modules and helpful tips on state and federal financial aid programs. If you have questions regarding your dependency status or any items on the FAFSA, feel free to contact the Federal Student Aid Information Center at 800-433-3243 or your financial aid office.
IRS DRT
The 2021-2022 Free Application for Federal Student Aid (FAFSA) opened on Oct. 1. The FAFSA is a form that details a student’s financial situation, which is shared with selected colleges and universities to determine how much financial aid to offer the student.
In order to share financial information, students and parents must submit their 2019 W-2 forms and tax returns. Families have the option to input this information manually, but there is another tool available that can make the process easier.
The Internal Revenue Service Data Retrieval Tool (IRS DRT) is a feature located inside the online and mobile app FAFSA. It allows students and parents to transfer 2019 tax information directly from the IRS into the FAFSA.
There are several benefits to using the IRS DRT:
1. It saves time as you’re completing the FAFSA. Instead of hunting for the correct numbers on your tax forms and running the risk of making an error, you’ll simply type a few words, click a few buttons, and the bulk of the tax questions on your FAFSA will be complete!
2. Using the IRS DRT reduces your chances of being selected for verification. Verification is the process your school uses to confirm the information provided on the FAFSA is accurate. During the verification process, your school may request various documents to verify the information provided on your FAFSA. Errors that occur when entering tax information manually can cause a student to be selected for verification.
3. If you do happen to be selected for verification, having used the IRS DRT will simplify the process. If you use the IRS DRT and are selected for verification, you will not have to provide any documentation to verify tax data. Your school will know it is accurate since it was transferred directly from the IRS into your FAFSA.
While using the IRS DRT is optional, students and parents are encouraged to use the tool to create a smoother and more accurate application process.
The FAFSA Is Now Available
The Free Application for Federal Student Aid (FAFSA) is now available!
It’s the key you need to unlock money that will help you pay for college or other education after high school. Students often ask if the FAFSA is a scholarship, it’s not. The FAFSA is simply a statement about a family’s financial situation, and it’s used to determine how much federal financial aid a student may be eligible to receive.
A new FAFSA is available October 1 each year. You can submit your FAFSA even if you haven’t applied to any colleges yet. In fact, if you’re not sure which college you want to attend, you can request that your FAFSA information be shared with up to 10 different campuses that you may want to learn more about. Every student who may need money for college for the 2021-22 school year should complete this FAFSA.
The current FAFSA is available online at FAFSA.gov.
Need some guidance to get started on your FAFSA? Check out our resources:
FAFSA in Five Steps: This publication explains the steps to completing the application and provides reminders for additional materials you might need.
FAFSA Modules: These five PowerPoint presentations walk through the details of each step of the FAFSA process.
FAFSA and Financial Aid Video: Sometimes it helps to hear someone explain the FAFSA process. Our new FAFSA video walks students through common FAFSA questions.
If you’re still wondering why the FAFSA is so important, keep in mind that during the 2018-2019 school year, $2.6B dollars in federal financial aid for college was left unclaimed by students. They would have been qualified to receive the aid, but they didn’t simply because they didn’t submit a FAFSA. Discover what you’re eligible for by submitting your FAFSA today!