completing the fafsa
TRANSCRIPT
MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY
COMPLETING THE
FAFSA®
Fast FAFSA
Facts
•Always free
•Required by all colleges
•Opens Oct 1st each year
•Must complete annually
Information
Needed
Student & parents’:
•SSNs
•2016 federal tax forms
•2016 untaxed income info
•Current asset statements
FAFSA
Customer
Service
•Phone: 800-4-Fed-Aid
•Chat: on StudentAidHelp.ed.gov
•Email: on StudentAidHelp.ed.gov
•Hours: M-F, 8 a.m.-11 p.m. ET
S&S, 11 a.m.-5 p.m. ET
FSA ID
•Needed for the FAFSA
•Username & password
•Student and one parent need one
•Get one at fsaid.ed.gov
Two choices to begin
If already have the FSA ID
If don’t yet have the FSA ID
Review & accept the disclaimer
Select the 2018-2019 FAFSA
For
high
school
seniors
Save Key lets you save & return later
Further help & instructions
Further
instructions
Tips for
each
question
Search
Introduction Page
Section
tabs
Student demographic information
Save as
you go
View your
answers
anytime
Use an email
address that
you check
often
Student eligibility
Eligibility details: •U.S. citizens & eligible non-citizens get aid
•Males 18+ must register for Selective Service
•Current HS student should select:
–Never before attended college
•Answering “yes” to “interested in work-study?”
–Does not obligate student to work
–Does not guarantee a job
Find your high school
List up to 10 colleges
Wait 3-5 days to delete and add other schools
Compare
schools side
by side
Select the housing plan for each school
Dependent students must provide parent data
Questions to determine student’s dependency
Application saves automatically throughout
Parent demographic information
Household
size
worksheet
Color and
label change
Who is a parent? •Biological, adoptive, and certain step-parents
•Include both parents if married
•Include both parents if unmarried & live together
•Married parents include same-sex couples
•If separated & live together, select “married”
•If divorced/separated, select custodial parent:
–Custodial: parent that student lives with the most
–Custodial parent & current spouse provide info
–Noncustodial parent does not appear on FAFSA
Household size includes •Student
•Appropriate parents
•Other children
–If financially supported now and into 2018-19
–Don’t have to live with family
•Other people
–If financially supported now and into 2018-19
–Must live with family
Parent tax information
Use IRS Data Retrieval Tool if offered
IRS Data Retrieval Tool
•Uploads 2016 tax info into FAFSA
•Will not show actual numbers on screen
•Not usable by certain categories of individuals
Transferring to IRS website
Reporting assets
Assets include current balance of
•Cash
•Checking/savings accounts
•Real estate except primary home
•Money market account
•Stocks & bonds
•529s for all children
•Value of larger businesses/farms
Assets do not include
•Primary residence
•Life insurance policy
•Value of retirement
•Value of small family businesses
•Value of family farms
Student
Finances
•Student answers same income
and asset questions as parents
•Student should report income even
if didn’t file taxes
Sign with FSA ID and submit
Confirmation Page
Expected
Family
Contribution
(EFC)
Transfer parent
information to a
sibling’s FAFSA
College
information
After You
Apply
•Colleges & state receive your data
•Students receive a Student Aid Report (SAR)
•Colleges may request additional info
•Colleges send aid letters (typically in Mar-April)
FAFSA Day
•Free, in-person help with the FAFSA
•Oct 2017 through Feb 2018
•FAFSADay.org for dates & times
