Free Application for Federal Student Aid (FAFSA)
If you would like to be considered for any federal need-based aid (Pell Grant, FSEOG Grant, Stafford loans, Perkins loans, and Federal Work-Study) or Carroll College need-based aid, you must complete the FAFSA. It is easy if you take a few steps to get prepared. In December, pull up the online FAFSA pre-application at http://www.fafsa.ed.gov/ to get an idea of the questions you'll need to answer. After January 1, complete the FAFSA using 2009 income tax returns or estimates. The results of your FAFSA or the expected family contribution will be sent to each school you list on the FAFSA.
Carroll College recommends filing the FAFSA electronically in order to expedite processing. The estimated processing time for electronic applications is 48-72 hours vs. 3-4 weeks for a paper application.
Gather the necessary materials ahead of time:
[ ] If you are a first-time electronic filer, please request a Department of Education Personal Identification Number (PIN), which will serve as your signature on the FAFSA. For dependent students, a parent must also request a PIN. A PIN is required for submitting the FAFSA, making corrections, and checking the status of your application.
[ ] Social Security Number
[ ] Your parents' financial records, including most recent federal income tax returns, with all schedules; W-2 forms and other records of most recent earnings; current bank statements, mortgage information, business, farm or investment records; 1099 forms; and records of untaxed income, veterans, Social Security and welfare benefits.
[ ] It's easier to fill out the FAFSA if you have a completed 2009 federal tax return, but you can use estimates rather than missing a deadline. Estimated numbers can be corrected later on your Student Aid Report (SAR), if necessary.
[ ] Have your information sent to Carroll College, code 002526.
Read all instructions thoroughly. Work through each step carefully and accurately. Careless errors can cost you time which may mean missed deadlines and dollars! Avoid the most common mistakes:
- Spelling name incorrectly. Spell your name as it appears on your Social Security card. Using a nickname or other name will cause delays.
- Leaving a field blank
- Not reporting ALL untaxed income
- Not reporting step parent information
- Reporting the wrong "taxes paid"
- Incorrect number of family members attending post-secondary education
- Not signing the form or filing on time
* Errors made in completing the FAFSA and/or supplemental forms may delay application processing and result in the loss of financial aid funds.
After your FAFSA is submitted
After your FAFSA is submitted you will receive a Student Aid Report (SAR).
The SAR reports your Expected Family Contribution (EFC), the number used in determining your eligibility for federal student aid. From the EFC, the college will determine your demonstrated financial need.
Here is an example:
| 2010-2011 Estimated Cost of Attendance (COA): | $35,112 |
| Expected Family Contribution (EFC): | ($5,123) |
| Demonstrated Financial Need: | $29,989 |
NOTE: Need varies based on cost of attendance
Your FAFSA results will be sent to you and to the schools that you listed on your application.
If you file electronically, the results are available on-line. If you file a paper application, you will receive the results in the mail.
Questions?
Please contact us at fao -is-at- carroll -dot- edu.