Changes to the 2024-2025 FAFSA
For many years, FAFSA applications have been available on October 1rst. The system is currently undergoing a major overhaul, with the intent of making it a more streamlined process. The revised application will be available no later than January 1, 2024. For more information, go to:
financialaidtoolkit.ed.gov/tk/learn/fafsa/updates.jsp?utm_medium=email&utm_campaign=CounselorMsg_9-12-2019&utm_source=Admission
Upcoming Financial Aid Information Sessions
Understand Financial Aid
Tuesday, October 10, 2023 @ 7:00 p.m. | Register here!
Suggested audience: 10th, 11th, 12th grade students and their parents/guardians
Paying for college should not be a barrier for anyone. This session will help you learn about the many ways to pay for college including grants, loans, scholarships, and work-study. We will answer these questions and more: Which funds are free to eligible students, which funds must be paid back, and which funds require a little work to receive but are still free? We will introduce the Free Application for Federal Student Aid (FAFSA) and the MN Dream Act application, including what is new for the 24-25 applications. We will also tell you about the things you need to have ready in order to complete and submit your application.
Create Your FSA ID
Tuesday, October 17, 2023 @ 7:00 p.m. | Register here!
Suggested audience: 12th grade students and their parents/guardians
FAFSA requires students and their contributor(s) to have a Federal Student Aid ID (FSA ID). Join us for a step-by-step walkthrough to create an FSA ID and tips to avoid common errors.
How to Apply for Financial Aid
studentaid.gov/apply-for-aid/fafsa/filling-out
If you are planning on attending college next year AND haven't yet applied for financial aid, here is what you need to do.
Step One: YOU and ONE parent need to EACH create a FSA ID.
Please note, after creating your FSA ID, it could take up to a week before your FSA ID gets registered in the system. After that, you can start your FAFSA (financial aid) application. Another thing to be aware of is that you and your parent need to enter separate email addresses when creating a FSA ID (no shared emails). You should not use your MCC email because your access to that goes away after you graduate. Students seeking financial aid, have to reapply each year they are in college. If you ever have trouble logging into your FAFSA account, a link to reset your password will go to the email that you used to set up your FSA ID.
What is a FSA ID?
Dependent students and a parent must each create a FSA ID. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. This ID will be used for the lifetime of your loan and each year you apply for Financial Aid.
Items needed to create your FSA ID
fsa_id_factsheet.pdf
Step Two: Using tax returns from the 2022 tax year, you and both of your parents (if you live with both) fill out your financial aid information on the FAFSA form. Not to try and confuse you, but only ONE parent needs to create a FSA ID but if you live with both parents...you will need to include BOTH of their tax information on your FAFSA. You will also need to include your tax information as well if you worked in 2022 and filed taxes.
Please note, there are special requirements for which parent needs to provide tax information if you don't live with both parents. For example, if your parents are divorced and you only live with one parent, only the one parent who provides your primary support will be required to enter tax information on your FAFSA. In this scenario, if that parent is also remarried, your step-parent's tax information would also be included. If you are confused about any of this, either reach out to the Financial Aid Office at the college you will be attending, or speak with Ms. Anderson. Specific information on all of this is found on your FAFSA application as well.
FAFSA: FREE APPLICATION for FEDERAL STUDENT AID
To apply for financial aid, you must complete the FAFSA. The form is available after December 1st online at studentaid.gov/h/apply-for-aid/fafsa. The FAFSA is used to determine eligibility for aid, which can include grants, loans, scholarships, and work-study.
Through information obtained on the FAFSA, your EFC (expected family contribution) will be calculated. This is the amount of money your family is expected to contribute for college costs. From there, grants, loans and work-study are awarded to meet the remaining need. These funds can come from federal, state, and private sources.
FREE PUBLICATIONS
http://www.ohe.state.mn.us/sPages/pubsGR.cfm
For many years, FAFSA applications have been available on October 1rst. The system is currently undergoing a major overhaul, with the intent of making it a more streamlined process. The revised application will be available no later than January 1, 2024. For more information, go to:
financialaidtoolkit.ed.gov/tk/learn/fafsa/updates.jsp?utm_medium=email&utm_campaign=CounselorMsg_9-12-2019&utm_source=Admission
Upcoming Financial Aid Information Sessions
Understand Financial Aid
Tuesday, October 10, 2023 @ 7:00 p.m. | Register here!
Suggested audience: 10th, 11th, 12th grade students and their parents/guardians
Paying for college should not be a barrier for anyone. This session will help you learn about the many ways to pay for college including grants, loans, scholarships, and work-study. We will answer these questions and more: Which funds are free to eligible students, which funds must be paid back, and which funds require a little work to receive but are still free? We will introduce the Free Application for Federal Student Aid (FAFSA) and the MN Dream Act application, including what is new for the 24-25 applications. We will also tell you about the things you need to have ready in order to complete and submit your application.
Create Your FSA ID
Tuesday, October 17, 2023 @ 7:00 p.m. | Register here!
Suggested audience: 12th grade students and their parents/guardians
FAFSA requires students and their contributor(s) to have a Federal Student Aid ID (FSA ID). Join us for a step-by-step walkthrough to create an FSA ID and tips to avoid common errors.
How to Apply for Financial Aid
studentaid.gov/apply-for-aid/fafsa/filling-out
If you are planning on attending college next year AND haven't yet applied for financial aid, here is what you need to do.
Step One: YOU and ONE parent need to EACH create a FSA ID.
Please note, after creating your FSA ID, it could take up to a week before your FSA ID gets registered in the system. After that, you can start your FAFSA (financial aid) application. Another thing to be aware of is that you and your parent need to enter separate email addresses when creating a FSA ID (no shared emails). You should not use your MCC email because your access to that goes away after you graduate. Students seeking financial aid, have to reapply each year they are in college. If you ever have trouble logging into your FAFSA account, a link to reset your password will go to the email that you used to set up your FSA ID.
What is a FSA ID?
Dependent students and a parent must each create a FSA ID. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. This ID will be used for the lifetime of your loan and each year you apply for Financial Aid.
Items needed to create your FSA ID
- Social Security number
- Full name
- Date of birth
fsa_id_factsheet.pdf
Step Two: Using tax returns from the 2022 tax year, you and both of your parents (if you live with both) fill out your financial aid information on the FAFSA form. Not to try and confuse you, but only ONE parent needs to create a FSA ID but if you live with both parents...you will need to include BOTH of their tax information on your FAFSA. You will also need to include your tax information as well if you worked in 2022 and filed taxes.
Please note, there are special requirements for which parent needs to provide tax information if you don't live with both parents. For example, if your parents are divorced and you only live with one parent, only the one parent who provides your primary support will be required to enter tax information on your FAFSA. In this scenario, if that parent is also remarried, your step-parent's tax information would also be included. If you are confused about any of this, either reach out to the Financial Aid Office at the college you will be attending, or speak with Ms. Anderson. Specific information on all of this is found on your FAFSA application as well.
FAFSA: FREE APPLICATION for FEDERAL STUDENT AID
To apply for financial aid, you must complete the FAFSA. The form is available after December 1st online at studentaid.gov/h/apply-for-aid/fafsa. The FAFSA is used to determine eligibility for aid, which can include grants, loans, scholarships, and work-study.
Through information obtained on the FAFSA, your EFC (expected family contribution) will be calculated. This is the amount of money your family is expected to contribute for college costs. From there, grants, loans and work-study are awarded to meet the remaining need. These funds can come from federal, state, and private sources.
FREE PUBLICATIONS
http://www.ohe.state.mn.us/sPages/pubsGR.cfm
|
|
|
TYPES OF AID
studentaid.gov/understand-aid/types
GRANTS and SCHOLARSHIPS
studentaid.gov/understand-aid/types/grants
studentaid.gov/understand-aid/types/scholarships
LOANS
studentaid.gov/understand-aid/types/loans
WORK STUDY
studentaid.gov/understand-aid/types/work-study
ESTIMATE YOUR FINANCIAL AID
studentaid.gov/aid-estimator/
This is a tool that you can use before officially applying for financial aid. It will provide you with an estimate of your EFC (estimated family contribution) and determine what types of federal grants, loans, and work-study you might qualify for (along with a projected award amount for each).
GUIDANCE ON DEPENDENCY STATUS AND HOW TO COMPLETE
PARENT INFORMATION
http://www.ohe.state.mn.us/pdf/FAFSA_SpecialGuidance.pdf
studentaid.gov/apply-for-aid/fafsa/filling-out/dependency
http://www.ohe.state.mn.us/pdf/MaritalStatusFAFSA.pdf
TOPICS REGARDING ELIGIBILITY AND SPECIAL CIRCUMSTANCES
studentaid.gov/understand-aid/eligibility/requirements
REPAYING YOUR LOANS
studentaid.gov/manage-loans/repayment
Additional 'Paying for College' Resources
www.ohe.state.mn.us/mPg.cfm?pageID=888
