FAFSA

In order to qualify for need based aid, families must complete the FAFSA. The FAFSA opens up on October 1 every year and you use the prior year’s taxes to complete the form. To complete the FAFSA follow these steps:

  1. Create an FSA ID. Both the student and one of the parents will need to create a FSA ID. This ID allows the student to log into the FAFSA and allows both the parent and student to use the IRS data retrieval tool to transfer financial information over from the IRS into the form. This is also how both the student and parent electronically sign the FAFSA at the end of the form.
  2. Start on the FAFSA. Just log in with the student FSA ID and start a new FAFSA for the academic year the student plans to attend college. The FAFSA asks for identifying information like birthdays and social security numbers as well as financial information. You will also add all of the colleges and universities that you would like your FAFSA sent off to.  You can preview the FAFSA questions here.
  3. Sign and submit the form using the FSA ID and on the confirmation page, you should see the Expected Family Contribution (EFC). The EFC is an estimate of what the federal government has determined your family can contribute to your education. You may see a Pell Grant estimate as well. If not, then you did not qualify. You will also see $5,500 in direct loan.
  4. After you have submitted the FAFSA, schools will send you financial aid award letters typically in the second semester between February and April depending on when you applied.

There is more aid than the Pell Grant and Direct Stafford Loans that you can qualify for by completing the FAFSA. Below is a chart of the federal and Virginia need and non-need based aid programs that you may see on your financial aid award letters.