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May 28 2017

FAFSA Frequently Asked Questions #credit #card #loans

#fafsa loans

Office of Student Financial Aid Services

FAFSA Frequently Asked Questions

What is FAFSA on the Web?

The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education to determine your Expected Family Contribution (EFC). The data collected is used to conduct a “needs analysis” based on financial information, such as income, assets and other household information, which you (and your parents, if you are a dependent student) will be asked to provide. The FAFSA is submitted online via the Internet at the following address: http://fafsa.ed.gov .

FAFSA data is sent directly to the U.S. Department of Education’s Central Processing System (CPS). The CPS will process applications within 72 hours.

Because electronic signatures hold the same legal status as written signatures, students and parents of dependent students applying for aid may electronically sign their FAFSA on the Web by using their PIN (personal identification number). This will allow the student aid process to be completed entirely online.

How do I get a PIN?

The PIN serves as an identifier to allow students access to their personal information and various U.S. Department of Education systems.  The PIN serves as an electronic signature. It should not be shared with anyone!

Students and parents must each request their own PIN before completing the FAFSA so that both may electronically sign the application.

What will I need?

New applicants and parents will need to provide their name, social security number, date of birth, mailing address, email address (required to receive PIN via email) and a challenge question. This information will be submitted electronically to the CPS. When the submission has been successfully completed, a confirmation number will appear on the screen.

You may sign a FAFSA with your conditional PIN.  PIN s are considered to be conditional until your information is verified with the Social Security Administration (SSA). Once verification with SSA is completed (1-3 days), you will be able to use your PIN to access your personal information on Federal Student Aid Websites.

What else can I use my PIN for?

If the SSA confirms your information, the PIN is then valid for all its uses, which include:

  • Access to your Student Aid Report online
  • Access to your data to make corrections
  • The option to pre-fill a FAFSA with demographic information from the previous year
  • Access to your information on other Federal Student Aid Web sites, such as the National Student Loan Data System

When should I complete and submit the FAFSA on the web?

The 2015-2016 FAFSA will be available on January 1, 2015. You can file your FAFSA using estimated income data (e.g. based on the last pay stub of the year, W-2, and 1099 statements).

UConn’s On Time Deadline dates are as follows:

  • March 1, 2015 for Incoming Freshman and Continuing Undergraduate and Graduate Students
  • April 1, 2015 for Incoming Undergraduate Transfer Students
  • May 1, 2015 for Incoming Graduate Students

What is the IRS Data Retrieval Tool?

FAFSA filers have the option of securely transferring their 2014 financial data directly from the Internal Revenue Service (IRS) database to their online 2015-2016 FAFSA. This option will be available to those individuals whose 2014 federal tax return has been processed by the IRS at the time that they are completing their FAFSA. This tool is intended to save time and increase the accuracy of the information entered on the FAFSA. Use of the IRS Data Retrieval Tool is not mandatory and does not absolve the FAFSA filer from meeting UConn s application deadline to be considered on time.

For any questions about the PIN process or for help completing the FAFSA, please contact the Federal Student Information Center at 1-800-433-3243. or visit their website at: http://fafsa.ed.gov

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