2012 – 2013 FAFSA is here!
The 2012-13 Free Application for Federal Student Aid (FAFSA) is available for completion at www.fafsa.ed.gov .
There is a major change that will make your life easier when completing the FAFSA on the web. You are now able to import your (and your parents if required) 2011 Federal Income Tax information directly from the IRS using the IRS Data Retrieval tool. This means there is no need to have your tax returns handy when you are completing the FAFSA! There are, however, some conditions that you must know:
- You must allow 1-2 weeks from the date you electronically submit your 2011 taxes to the IRS for the data to be available for your FAFSA, 6-8 weeks if you mailed in your tax return
- You must use the exact information you used on your 2011 Federal taxes (address, SSN, etc.) to verify with the IRS before they will allow you to import data to FAFSA
It is strongly recommended that you use the IRS Data Retrieval tool to import your tax information. It will speed up the FAFSA process, as well as minimize the amount of additional paperwork necessary to complete your financial aid process.
Also remember, some sources of aid are on a first come, first served basis. This means the sooner you get your FAFSA done, the better chance you have of being eligible for all the sources of aid possible!
If you are planning on graduating this quarter and used financial aid to help pay for school, you are required by the US Department of Education to complete your Loan Exit Counseling steps by the last day of school to allow adequate time for processing. The Financial Aid office will not clear you for graduation until you have completed:
- Your online “Exit Counseling” session at www.studentloans.gov (approx. 20 minutes)
- You one-on-one meeting with a Financial Aid Administrator (10-15 minutes)
As always if you have any questions, please feel free to stop in or contact us at firstname.lastname@example.org .