FAFSA and Financial Aid

 

FAFSA

The FAFSA opens October 1, 2020.  Seniors, you will complete the 2021-2022 document since that is the school year you will attend college. The form is available at www.fafsa.ed.gov. Click here for the 2020-2021 FAFSA Completion Guide. This document will assist with the FAFSA process.

 
If you had previously completed the FAFSA for a child who graduated prior to 2018, please be aware that significant changes were made to the FAFSA process. The article, 10 Things to Know About the New FAFSA Changes, gives a simple explanation of these changes.
 
 
Important Financial Aid Information
  • Students and their parents need to sign up for a FSA ID at https://fsaid.ed.gov/npas/index.htm to allow you to sign the FAFSA electronically. 
  • Be sure to file the 2021-2022 FAFSA. 
  • We strongly encourage filing the FAFSA as soon as possible on/after October 1, 2020
  • You must file the FAFSA to be eligible for grants or other forms of financial aid.

 

Financial Aid/ FAFSA Presentation: If you missed the KHEAA presentation on FAFSA and Financial Aid which was held on September 24, you can listen to a recording here. Passcode is @x$a6GeX 

 

Financial aid has a language of its own
As high school seniors and their parents begin the college financial aid process, they may find themselves faced with unfamiliar terms. This short glossary from the Kentucky Higher Education Assistance Authority (KHEAA) may help.
·        Conversion scholarship/loan. This type of financial aid requires recipients to provide certain services or pay back the funds with interest.
·        Expected family contribution (EFC). This is the amount the student and family are expected to pay toward yearly college costs.
·         FAFSA.The Free Application for Federal Student Aid is the form all students must complete when applying for federal and state student aid. The best way to file is online.
·        Financial need. The difference between the student’s EFC and the total cost of attending a college.
·         Grant. Grants are usually based on financial need and generally do not have to be repaid.
·         Institutional aid. Institutional aid refers to the scholarships, grants and other financial aid programs administered by the college.
·        Need analysis. The answers provided on the FAFSA are analyzed to determine a student’s EFC and financial need.
·         Student Aid Report (SAR). This report is based on the information provided on the FAFSA and lets students know their EFC and eligibility for aid.
·         Waiver. A waiver lets a student attend college without having to pay tuition and certain fees.