Financial Aid (FAFSA)
FAFSA (Free Application for Federal Student Aid)
Students and parents can email ISM College Planning at Outreach@ISMCollegePlanning.org for assistance on completing the FAFSA. Questions can be submitted, or a time for a call arranged with an ISM team member.
Four Methods to File a FAFSA:
- Login to apply online at FAFSA.gov . This method is strongly encouraged.
- Complete a PDF FAFSA (Note: PDF FAFSAs must be mailed for processing and must reach the government by the deadline)
- Request a paper FAFSA by calling 1-800-4-FED-AID (1-800-433-3243) or 319-337-5665. If you are hearing impaired, contact the TTY line at 1-800-730-8913. (Note: paper FAFSAs must be mailed for processing and must reach the government by the March 10th deadline)
- Mobile App - MyStudentAid App
If you miss the deadline, you should still fill out the FAFSA - you may still end up qualifying for federal aid, but you will not qualify for state aid.
Things to Note:
- FAFSA strongly encourages you to fill out their application on-line. It is usually faster and easier to fix any potential errors that may arise. To do that completely, all Seniors and parents should create separate FSA IDs before beginning the FAFSA. The FSA ID serves as a legal digital signature, and both the student and at least one parent must have an FSA ID. The FSA ID can be created the federal student aid website. The longer you wait, the longer it might take to get your number returned to you. When you get the email saying your ID has been assigned, read the email and follow the instructions carefully. Be sure to print the page your number is on, or write it down and keep it somewhere safe and secure. You will need your ID when you re-apply next year.
- Be sure to use a valid, frequently checked email address on your FAFSA so the state can notify you of all awards granted or if you have a FAFSA error that needs to be corrected. After your FAFSA application is processed, you will receive a summary of your information in your Student Aid Report (SAR). If you provide an e-mail address, your SAR will be sent by e-mail within 3-5 days. If you do not provide an e-mail address, your SAR will be mailed to you within three weeks. Notice!! If you want to print out your SAR (Student Aid Report) you must use Mozilla Firefox, NOT Google Chrome! Many of the scholarship applications you will be filling out will request your FAFSA SAR (Student Aid Report) to be attached, or for your EFC (Expected Family Contribution) from your SAR to be entered on the application.
- There are some scams involving FAFSA to be aware of. You should NEVER pay someone to process your FAFSA form, so make sure when you file the FAFSA on-line you visit FAFSA.gov/and NOT www.fafsa.com.
- If you would like to check the status of your FAFSA, go to FAFSA.gov or call 1-800-4-FED-AID.
- Students will need to have any corrections resolved on the FAFSA prior to State aid being dispersed.
- We've had a few past students where the name on their birth certificate & social security card do not match the name we have for their school records. Please check to make sure that these do match. If they don't, this will cause problems for any financial aid you might apply for in the future. The name on your school records will be the name on your final transcript and diploma.
Helpful Websites:
- Studentloans.gov - Federal Student Aid's website with videos on the FAFSA overview, creating an FSA ID, myths, budgeting, responsible borrowing, management of loans, and repayment
- Studentaid.ed.gov - Answers regarding types of aid, who gets aid, applying, and repaying
- https://studentaid.ed.gov/sa/fafsa - US Department of Education step-by-step instructions
- www.finaid.org/ - FinAid: The Smart Student Guide to Financial Aid
- Fast Web's College Gold Website - interactive tools, calculators, and resources
- Tax Information for Students - IRS website with tax benefits, education credits information, etc.
- http://www.in.gov/che/4498.htm - State Financial Aid and other sources
- https://lendedu.com/blog/category/financial-aid/ - Lendedu has articles, classes, guides, and information about various loans
-https://bigfuture.collegeboard.org/pay-for-college - Big Future (College Board) gives ideas and tips
- Common App - Financial aid information available Within the Common App website
Financial Aid Estimator
- FAFSA Forecaster - an estimate of your eligibility for financial aid
- Various Financial Aid Calculators
- www.indianacollegecosts.org/ or call toll free at 877-687-7291.
Questions?
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INvestEd - INvestEd is a free resource for Hoosier students and parents looking for help with college planning and financial aid. At INvestEd, they help families understand how to fund college wisely to help minimize potential education debt