Aid from most of the programs discussed is awarded on the basis of financial need.

When you apply for federal student aid, the information you report is used in a formula established by the U.S. Congress. The formula determines your Expected Family Contribution (EFC), an amount you and your family are expected to contribute toward your education (although this amount may not exactly match the amount you and your family end up contributing). If your EFC is below a certain amount, you'll be eligible for a Federal Pell Grant, assuming you meet all other eligibility requirements.

There isn't a maximum EFC that defines eligibility for the other financial aid programs. Instead, your EFC is used in the following equation to determine your financial need:

Your financial aid administrator calculates your cost of attendance and subtracts the amount you and your family are expected to contribute toward that cost. If there's anything left over, you're considered to
have financial need. In determining your need for aid from the SFA programs, your financial aid administrator must first consider other aid you're expected to receive.

Your financial aid administrator can adjust data used to calculate your EFC or adjust your cost of attendance if he or she believes your family's financial circumstances warrant it based on the documentation you provide. However, the financial aid administrator does not have to make such an adjustment.

 

Student Aid

If you applied for federal student aid for the last school year, you probably will be able to file a Renewal Free Application for Federal Student Aid (Renewal FAFSA). Renewal FAFSAs are discussed below.

If you did not apply for federal student aid for the last school year, you can apply for federal aid for the current school year by completing and submitting a Free application for Federal Student Aid (FAFSA). You may submit a FAFSA

• Through the Internet by using FAFSA on the Web.
  
• By using FAFSA Express software.
  
• By mailing a paper FAFSA.

FAFSA on the Web is a free U.S. Department of Education web site where you can complete a FAFSA online and submit it via the Internet. You can use FAFSA on the Web on a personal computer (PC) or a Macintosh that is equipped with a supported browser. The internet address is:

http://www.fafsa.ed.gov

FAFSA Express If you can't use FAFSA on the Web, you may still be able to apply electronically by using FAFSA Express. FAFSA Express is a free software program that allows you to apply for federal student aid from your home computer or from a computer at a central location like a high school, post secondary school, public library, or local Educational Opportunity Center that uses FAFSA Express. FAFSA Express can be used only on a personal computer equipped with the Windows® operating system and a modem.

If you wish to apply using FAFSA Express, you can download a copy of the program from the U.S. Department of Education's web site. The address is:

http://www.ed.gov/offices/OSFAP/Student/apply/fexpress.html

Applying by mail If you would like to apply by mailing a paper FAFSA, you can get one from your high school or post secondary school.

Help in completing the FAFSA is available from the Department of Education's web site at:

http://www.ed.gov/prog_infor/SFA/FAFSA

Read the instructions carefully when you complete the FAFSA or the Renewal FAFSA. Most mistakes are made because the students don't follow instruction. Pay special attention to any questions on income, because most errors occur in this area.

You should save all records and all other materials used in completing the application because you may need them later to prove that the information you reported is correct. This process of proving that your information is correct is called verification. If verification is required, and you don't provide it, you won't receive aid from the SFA programs, and you might not receive aid from other sources.

You should make a photocopy of your application (or print out a copy of your FAFSA Express or FAFSA on the Web application) before you submit it. This way, you have a copy of the data you submitted for your own records.

A financial aid survey is competed by the student at this time. These figures are used to construct the educational budget used to determine state and tribal funding levels.

When do I apply?

Apply as soon after January 1st as possible. (You can't apply before this date.) The priority date is June 15th. If you want to apply through FAFSA on the Web, you can apply beginning January 3. It's easier to complete the application when you already have your tax return, so you may want to complete your tax return as early as possible. Do not sign, date or send your application before January 1. You need to apply only once each school year.

If you apply by mail, send your completed application in the envelope that came with it. It is already addressed, and using it will ensure that your application reaches the correct address.

After your competed application is received by the processing system, the processor will produce a Student Aid Report (SAR). The SAR will report the information from your application and, if there are no questions or problems with your application, your SAR will report your Expected Family Contribution (EFC), the number used in determining your eligibility for federal student aid. The results will be sent to you and to the schools that you listed on your application.