Posts in Category: Financial FAQ

What’s Next After Submitting The FAFSA?

After you submit the FAFSA online, you will receive a Student Aid Report (SAR). The SAR is a summary of your submitted FAFSA data and indicates your family’s Expected Family Contribution (EFC). The EFC is NOT the amount of money a family will have to pay for college, nor is the amount of federal aid you will receive. Your EFC is a number that college financial aid staff use to determine how much financial aid you will receive.

Unfortunately, not all colleges have enough aid to meet full need.  At these colleges, a “Gap” in the financial aid package can exist. The family may meet the shortfall through a variety of sources, including personal funds, college savings accounts, scholarships, or student loans.If you are looking for more detailed information, we suggest these as a starting point:

How Do I Fill Out The FAFSA?

To complete the FAFSA, go to FAFSA.ed.gov. To start the FAFSA, you’ll need an FSA ID, a username and password combination that allows you to sign your FAFSA electronically. Both the student and parent will need to create an FSA ID.  To complete the FAFSA you’ll need to provide information from your social security number, parent’s social security numbers, your family’s federal income tax returns, W-2s, and bank statements. You can use the IRS Data Retrieval Tool to transfers your IRS tax information directly into your FAFSA.