All students that are planning to attend any type of post secondary school after they graduate from high school will need to fill out the FAFSA. All of the schools require it to start the financial aid process which includes getting students loans.
Who Can Get Federal Student Aid?
Eligibility for programs is based on financial need and on several other factors.
Your eligibility is determined by the information you provide on the
FAFSA (Free Application for Federal Student Aid).
Listed are some of the basic requirements you must meet:
- Demonstrate financial need
- Demonstrate that you are qualified to enroll in postsecondary education
- have a high school diploma or a GED
- Be working toward a degree or certificate in an eligible program
- Be a U.S. citizen
- Maintain satisfactory academic progress once in school
How to Apply for Federal Financial Aid
- The FAFSA is available online at www.fafsa.ed.gov.
Apply online, REGISTER NOW to receive your PIN (Personal Identification
Number) at www.studentaid.ed.gov
Complete this form ASAP after January 1st.
Deadlines vary by college and state, so check with the college you will attend
- Watch your email for a Student Aid Report (SAR).
You should receive this within 4 - 6 weeks, after the FAFSA has been processed.
Information is also sent to the college(s) named on the FAFSA. If you don't receive
a SAR on time, or if you need another copy, call (319) 337-5665
- Check with the college(s) you are considering; they may require additional applications or forms.
- You'll receive an award letter from the financial aid office of each college you
specify. This document indicates the types of aid you are eligible to receive.
Your financial aid eligibility is the difference between the cost of education
and the Expected Family Contribution (EFC).
- The federal government performs a needs analysis to determine your EFC.
The cost of education includes tuition and fees, room and board,
books and supplies, transportation, and misc. expenses.
Information you will need to file your FAFSA
- Your Social Security card and Driver’s License.
- Your income tax returns, W-2 forms and 1040 forms for the previous year
- Your parent’s income tax returns, W-2 forms and 1040 forms
for the previous year (if you are dependent).
- Records and documentation of other untaxed income received such as
welfare benefits, Social Security income, veteran’s benefits, AFDC,
or military or clergy allowances.
- Current bank statements and records of stocks, bonds, mutual funds
and other investments.
- Current mortgage information.
- Business or farm records (if applicable).
Records relating to unusual financial circumstances, such as medical and
dental expenses not covered by health insurance, tuition expenses at elementary
or secondary schools, unusually high child care costs, death, divorce and
loss of employment. (These aren’t required, but they could influence the amount received).