Financial Aid Overview

The FAFSA and Other Financial Aid Applications

The FAFSA is the form you need to fill out to qualify for federal or state need-based aid. The information you provide will automatically be sent to the schools you list on the FAFSA and to KHEAA.

The best way to file the FAFSA is online at www.fafsa.ed.gov. You're less likely to make errors because your answers are edited automatically. Also, you'll receive your report 7 to 14 days faster than you will with a paper FAFSA.

If you prefer to file a paper FAFSA, you can get up to three copies by calling the U.S. Department of Education at (800) 433-3243. If you want to be notified when your FAFSA is received, fill out the postcard in the packet and return it with your FAFSA. The processor will stamp the card with the receipt date and location and mail it back.

The financial aid office of each college you list on the FAFSA will use the information on the FAFSA to determine what need-based aid you qualify for and will create a financial aid package. You'll receive the package in late spring or early summer.

Gather documents you'll need for completing the FAFSA, including:

• Your Social Security card and driver's license.
• Your W-2 forms and federal income tax return.
• Your parents' W-2 forms and federal income tax return if you are dependent.
• Records of other untaxed income received, such as Social Security benefits, Temporary Assistance for Needy Families (TANF), or veteran's benefit.
• Current bank statements and records of stocks, bonds, or other investments.
• Business or farm records if applicable.
• Your alien registration card if you are not a U.S. citizen.

Don't forget to:

• Read and follow the instructions carefully.
• Submit the FAFSA as soon as possible after January 1 of your senior year (when the family has its federal income tax preparation data) to make sure you have the best chance of receiving aid for which you're eligible.
• Keep copies of your FAFSA and a record of the date you submitted or mailed it.
• If you submitted a paper FAFSA and need to make corrections, follow the instructions on the Student Aid Report you receive in the mail and return it immediately for reprocessing. If you filed online, you can make corrections at www.fafsa.ed.gov.
• Read financial aid award letters carefully and comply with requests from schools for additional information as soon as possible. Any corrections or additional information should be submitted to the central FAFSA processor so KHEAA, the school, and the administrators of federal programs will have the information.

Other Financial Aid Applications

• Some colleges require separate applications for scholarships they administer. Check with the financial aid office to find out.
• Read and follow directions. You may be disqualified for failing to complete all questions, answering them incorrectly, or missing the deadlines.
• Pay close attention to mailing addresses and filing deadlines. Like the FAFSA, other application forms should be filed as early as possible.
• Keep copies of everything you mail and a record of the dates you mail the materials. You might want to send your materials by registered mail, return receipt requested.
• Talk with your counselor about scholarships available in your community. Apply for any for which you might be eligible.
• Check the school's catalog or website for other financial aid for which you may be eligible.
• Apply for every type of aid you can to increase your chances of receiving enough to pay for college.