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For More Information Contact:

Caitlin McLaughlin

ISACorps Outreach Representative

(217) 685-4432

Caitlin.McLaughlin@isac.illinois.gov

What is the FAFSA?

The FAFSA is the Free Application for Federal  Student Aid and is the first step in the financial aid process. A FAFSA is used to apply for state and federal financial aid programs. In addition, some colleges use this document to award institutional aid. The application is available at no fee.

The 2013-2014 FAFSA is available online starting January 1, 2013 at www.fafsa.gov.

What Information Do I Need to Complete My FAFSA?

• Social Security Number, for yourself and your parent(s) *
• Records of income, such as income earned from work and business, child support paid or received and any other untaxed income. If available, refer to the W-2 forms or Federal Tax Return IRS 1040, 1040A or 1040EZ.
• Information about assets, such as savings, certificates of deposit, stock options, bonds, 529 plans and other college saving programs; and investment real estate, business and farm.
• Driver’s license number, if you have one.
• Alien Registration Number, if you are not a U.S. citizen.

Notes

• Parent information is required unless you are at least 24 years of age, or meet the criteria for filing as an independent student as described on the Free Application for Federal Student Aid. Refer to www.fafsa.gov
• You must report income and assets for yourself and for your parents(if you are a dependent student) or your spouse(if you are married)
• If you have yet to file your 2012 tax information you can use income records for the year prior to the academic year for which you are applying: for instance if you are filling out the 2013-2014 FAFSA, refer to the 2011 tax information

Estimates

Financial estimates can be used on the FAFSA to secure your spot for monetary aid before you have your current taxes filed. To use estimates, use the previous year’s tax information on the form and submit the FAFSA. After you have filed your current tax information return to www.fafsa.gov and click on the financial information section to make corrections to a processed FAFSA. Input the correct tax information and resubmit the form.

Getting a PIN

In order to complete the FAFSA online you will need to get a PIN for an electronic signature. To receive your PIN visit www.pin.ed.gov. You will have the option to chose your own PIN or have a PIN created for you.  This PIN will be used every year to fill out the FAFSA, keep the number in a place where you will remember it. Once a PIN is created with a social security number, another PIN cannot be created with the same social security number. If the student is a dependent, a parent will also have to create a PIN.  Parent PINs can be used for multiple students if more than one student is attending college.