Every year on January 1st we celebrate the beginning of a new FAFSA becoming available for students. It’s a time of new beginnings and resolutions to complete the FAFSA as early as possible. This post will help you in that resolution.
Now you may be thinking “Filing now?!- but I haven’t even started to think of my 2014 taxes!!!” but that’s okay because did you know you can file the FAFSA before you have done your taxes? That’s right. You can use estimations based on last year’s income and knowledge of your family’s situation to best represent your actual income and plug those numbers into the FAFSA. They don’t have to be perfect- but they should be as close to the actual figures as possible.
We highly recommend submitting the FAFSA as early as possible as some of our financial aid is awarded on a first come- first serve basis and we do award based on the initial FAFSA filing date.
Here is the information you will need before filing the FAFSA:
- Your social security number
- Your Alien Registration Number if you are not a US Citizen
- Your federal income tax information
- Bank statements/ records of investments (if applicable)
- Records of untaxed income (if applicable)
- Your Federal Student Aid PIN to sign electronically (If you forgot or do not have a Federal PIN please go to https://pin.ed.gov/PINWebApp/pinindex.jsp)
Please note if you are a dependent student you will need most if the information above for your parent(s) as well.
Now you probably woke up this morning eager and ready to file that FAFSA after a quiet night of celebrations and already have all this information ready. Well the next step is to go to www.fafsa.ed.gov and sign in with that pretty pin of yours and get started on next year’s FAFSA! When you are ready you will need to enter Wentworth’s school code to ensure that the FAFSA is sent to us. When that time comes please enter in 002225-00 and submit that. This will now automatically send us your FAFSA data.
In most cases your estimated family contribution will be calculated after you submit the FAFSA. This number will help the school determine your need and what financial aid you are eligible for.
Now you may be wondering what happens after you file your FAFSA. Well we don’t award students until later in the spring so you won’t be hearing anything from us regarding the actual financial aid award offer until later. We typically will award financial aid to new incoming students in March and returning students in June. However there are some other things you can do in the meantime.
- Once you and/or your parent(s) file taxes you can import that data directly into the FAFSA by using the data retrieval tool. We highly recommend that all families use this tool so that the information is as accurate as possible.
- If you are selected for verification you won’t be able to submit the documentation until later in the spring to the Student Service Center but you can make note and start gathering whatever documentation will be required. (Please note if you are a returning student selected for verification you cannot be awarded financial aid until you hand in all required verification documentation and it is processed)
If you have questions about the FAFSA we highly recommend visiting their FAQ at https://fafsa.ed.gov/help.htm as it should answer most of your questions. You can always contact them through a number of ways at https://fafsa.ed.gov/help.htm.
Until next time!