Here is the complete list of Fafsa Student Aid Requirements

Here is the complete list of Fafsa Student Aid Requirements

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Here is the complete list of Fafsa Student Aid Requirements: The Free Application for Federal Student Aid (FAFSA) is a form completed by US undergraduate and graduate students to determine financial aid eligibility.

CSS Profile (short for “College Scholarship Service Profile”), required by some independent colleges, is different from the FAFSA. Colleges use the CSS, a fee-based product of the College Board, to distribute institutional funds rather than federal or state funding.

What will I need to fill out the FAFSA?

Your FSA ID

  • Register for an FSA ID, your account username and password.
  • FSA IDs are digital legal signatures that let you complete and update the FAFSA form, so create and secure one.
  • Parents of dependent students must use their own FSA ID to file FAFSA.
  • We recommend creating your account before completing the FAFSA. It can take up to three days to use your FSA ID, so this extra step can avoid delays.

Your Social Security Number

  • Your SSN is on your Social Security card.
  • Contact the Social Security Administration to request a new or replacement SSN card if you do not have access to it or know its location.
  • You’ll need your Alien Registration number if you’re not a U.S.
  • citizen but meet other federal student aid requirements. The FAFSA requires this information from parents and students.

Also See:

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Your Driver’s License Number

You must enter your driver’s licence on FAFSA. If you don’t have a driver’s licence, skip this step.

Your Federal Income Tax Return

  • You (and your parents, if dependent) will report your 2021 income on the 2023–24 FAFSA.
  • The IRS Data Retrieval Tool may allow you to transfer your 2021 income tax return to the FAFSA form immediately since you probably filed it by then.
  • Not everyone can use IRS DRT.
  • The IRS DRT does not enter all FAFSA financial information. Therefore, keep your 2021 tax return and IRS W-2 for reference.

The IRS DRT is the fastest, most accurate way to enter tax return data into FAFSA. The IRS DRT tax return information you transfer will not appear on fafsa.gov due to security and privacy concerns. Instead, fafsa.gov displays “Transferred from the IRS” in the appropriate fields.

Do not use your 2022 tax information. We understand that 2021 income may not reflect your current financial situation for some families. If your income dropped since 2021, complete the FAFSA with 2021 tax information. Contact your prospective school and explain and document the income change. School officials can evaluate your situation and adjust your FAFSA form.

After filing your 2022 tax return, you cannot update your 2023–24 FAFSA. The 2023–24 FAFSA needs 2021 data.

Records of Your Untaxed Income

You may answer FAFSA questions about untaxed income like child support, interest, and veterans’ non education benefits. When asked, report 2021 tax or calendar year information on the 2023–24 FAFSA. Find details on parent and student untaxed income.

Records of Your Assets (Money)

This section includes savings and checking account balances and investment values like stocks, bonds, and real estate . Instead of 2021 tax year amounts, report the current amounts as of the FAFSA form date.

Note: Misreporting investment values is a common FAFSA form error. Check the definitions of student and parent investments to avoid over- or under-reporting. What can and cannot be excluded may surprise you.

List of the School(s) You’re Interested in Attending

  • Add any college you’re considering, even if you haven’t applied or been accepted.
  • List the college on your FAFSA even if you’re unlikely to apply. If you decide not to apply, you can remove a school later, but if you wait, you may lose financial aid.
  • The schools you list on your FAFSA will receive your results electronically. FAFSA information determines financial aid types and amounts.
  • It’s OK to add a school to your FAFSA form but not apply. The school probably won’t help until you’re accepted.
  • Up to 10 schools can be listed on FAFSA. What to do if you’re applying to over 10 schools.

TIP: Some states require schools to be listed in a specific order for state aid consideration. State schools may be listed first. Check if your state has a requirement for the order of schools listed on your FAFSA.

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