10 FAQs for the
2014 - 2015 FAFSA
Q1. What documents do I need to
file the FAFSA?
1. Social security number
2. Driver’s License (if applicable)
- Last year’s W-2 forms and other records of money earned
- IRS 1040, 1040A, 1040 EZ, foreign tax return
3. Parents’ federal income tax return from last year (for dependent students
4. Last year’s untaxed income records
5. Current bank statement information
6. Current business, investment and/or mortgage information, business and
farm records, stock, bond and/or other investment records
7. Alien resident or permanent resident card (if not a U.S. citizen)
Q2. What does the financial aid
timeline look like for this year?
Jan 1 - Feb 15
File your FAFSA!
March 1 - March 31
Admissions reponse, financial aid
May 1 - June 1
Deposits due, verification if selected
June 1 - August 31
Billing statements, payment plans,
Jan (next year)
New FAFSA is due
Q3. Does the order of schools I
list on my FAFSA matter for funding
A: While Federal student aid will not be
affected by the order of schools listed, some
state-based funding, and institutional-based
funding may depend on the order in which
schools are listed on the FAFSA.
Q4. What happens to financial aid
if I transfer mid-year?
A: Make sure to update your current FAFSA to
reflect the new institution attended, and
confirm the info is received by your new
school so your account can be updated.
Make sure financial aid for your new semester
is re-routed to the new institution, like your
Q5. Can I add more than 10
schools to the FAFSA list?
A: After receiving the Student Aid Report (SAR
is the result of the FAFSA after processing by
the Fed), log back into your online FAFSA,
select “Make FAFSA Corrections,” and then
the “School Selection” page to add on.
Q6. What is need-blind admission?
A: Need-blind admission is when a college
does not consider the family’s finances when
deciding whether or not to admit a student.
Q7. What is difference between
subsidized and unsubsidized loans?
A: Subsidized loans are government-aided
loans. The government pays the interest
accrued while the student is in school.
Unsubsidized loans are not aided by the
government. The student will be responsible
for those payments during normal repayment.
Q8. My parents are not married,
but live together. How should my
FAFSA be filed?
A: The 2014 - 2015 FAFSA has changed.
If biological parents live together but are not
married, they are still both responsible to
supply their financial information for the
Q9. When is my FAFSA deadline?
A: Deadlines will vary; the earliest standard
date at some schools and in certain states is
File early to stay ahead of schedule!
Q10. Does my Parent's single
family home count as an asset on the
A: As long as it’s a single family home, your
primary residence, and not considered an
investment property, then it's not considered
an asset on the FAFSA.
FILE YOUR FAFSA TODAY!
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