It’s FAFSA time

Now is the time to apply for finacial student aid 2018-2019 school year.

The Free Application for Federal Student Aid (FAFSA) becomes available for the 2018-2019 academic year on Oct. 1, 2017. The application provides access to grants, loans and work-study funds from the federal government. Submitting the FAFSA ensures a student considered for federal, state and institutional aid.

The first step to completing the FAFSA is to create a Federal Student Aid (FSA) ID, which is composed of a username and password. This allows you to electronically sign and submit the application.

Most students younger than 24 years of age are considered dependent students. Dependent students will have to provide their parents’ information. Parents will be required to sign the application as well, and will also need to create a FSA ID. To create a FSA ID, visit studentaid.gov/fsaid. For more information on dependent and independent student status, visit https://studentaid.ed.gov/sa/fafsa/filling-out/dependency.

To complete the FAFSA, visit fafsa.gov and select “Start A New FAFSA” for all first-time applicants. The FAFSA must be submitted each school year. Students returning can select “Login” using their FSA ID.

The FAFSA requires federal tax information to calculate a student’s eligibility for financial aid. For the 2018-2019 FAFSA, students and parents will use tax information for 2016. The IRS Data Retrieval Tool (DRT) provides tax data that automatically fills in information for the FAFSA. While the IRS had turned off the DRT in spring of 2017 due to security concerns, the DRT will be available Oct. 1.

This is completely free to do and available to everyone. For more information on the new changes go to studentaid.ed.gov.

For more information, visit http://www.msue.msu.edu. To have a digest of information delivered straight to your email inbox, visit http://bit.ly/MSUENews. To contact an expert in your area, visit http://expert.msue.msu.edu, or call 888-MSUE4MI (888-678-3464).

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