FAFSA/ Finding the Funds for College Night for Seniors and Parents is October 5th 2022
On October 18th, We will have a workshop for those who might need help with their FAFSA. Translation will be available for our Spanish speaking families and extra help for our students and parents who are First Generation college students. We would like you to register for this event in advance so we know how many to expect. Registration will be posted here and on Canvas
WHAT IS FAFSA?
FAFSA stands for Free Application for Federal Student Aid. This application is required in order to receive any financial aid and assistance from the government (federal and/or state) to help pay for college.
Types of Financial Aid that Require FAFSA:
- Federal Student Aid- Pell Grant, FSEOG Grant, and other federal grants and student loans
- State Student Aid - Oregon Opportunity Grant and other state-funded grants
- Oregon Promise Grant- For students attending Oregon community colleges
- Many colleges require the FAFSA for scholarships.
- The OSAC scholarship application
- The Ford Family Foundation Scholarship application
- The North Medford Foundation Scholarship application
THINGS TO KEEP IN MIND:
- The FAFSA opens October 1st of every year for the following school year
- It’s important to apply on or after October 1st. Starting the application any sooner will file your FAFSA for the incorrect school year.
- You do not have to pay for FAFSA. If you are working on a site that asks for payment, do not proceed! It is not a legitimate FAFSA site.
- If you are a Freshman in college in 2023-24, you need to complete the 2023-2024 FAFSA.
WHAT IS NEEDED TO COMPLETE THE FAFSA:
Gathering this information in advance can help the process:
- Your FSA ID number
- Your Parent’s FSA ID number (only one parent needs an FSA ID. If your parent has one from a sibling, they do not need to file for a second number)
- Your Social Security Number
- Your parents’ Social Security Number
- In very rare cases, you may file as an independent student. See Jeri in the Tornado Future Center at North Medford High School for information about how to do this.
- If you are not a US Citizen, your Alien Registration Number
- Federal Tax Returns for you and your parents, including your W-2 information
- If you are filing for the 2023-2024 school year, you will provide the 2021 tax information.
- Your driver’s license, if you have one.
- If you have filed your 2021 tax return, you may use the IRS Data Retrieval Tool, which will automatically upload your tax information from the IRS.
- If you did not file your tax return, you may complete the FAFSA using estimated tax information. You will be selected for verification and you will have to provide proof of what you have reported.
- If you have untaxed income, you will need to provide that information as well, such as veterans non-educational benefits, child support, interest income, etc.
- You will need to report any cash, savings, and checking account balances. Investments such as real estate must be reported. You do not have to report the home in which you live, that is your primary residence. Link to what is considered an Asset: FAFSA Asset Net Worth
- If your financial circumstances have changed since 2021, you might be eligible to file a professional judgement with the college you choose to see if you qualify for financial aid.
Apply Here: FAFSA Application
AFTER FILING: What’s Next?
Check out this video that breaks down what happens after you file your FAFSA
Once you have completed the FAFSA you will receive an email from the FAFSA with your EFC (Expected Family Contribution) and your SAR (Student Aid Report). Keep an eye out for this email!
The Student Aid Report (SAR) will let you know if you were selected for the verification process. If you are selected for verification, don’t panic! Approximately 30% of students who file are selected. It is important that you don’t ignore this step in the process, if selected.
This quick video explains the Verification Process
Verify your information as soon as possible and follow the specific directions from your college. If you need a tax transcript you can order that here: Tax Transcript from the IRS. It is advantageous to complete the verification process as soon as you are able, as it has the potential to impact the financial aid offers from the colleges you are applying to. Make sure you save a copy of the verification, as you may need to send it to the schools you are applying to.
If you are not a U.S.. Citizen or do not have an Alien Registration Number, you cannot file the FAFSA. Instead, you may file the ORSAA (Oregon Student Aid Application). Like the FAFSA, the ORSAA opens on October 1st each year. Undocumented students should complete the ORSAA as soon as possible on or after October 1st, in order to access more financial aid opportunities.
Learn more about Financial Aid for Undocumented and DACA Students.
If you are a DACA student, you may want to complete the FAFSA in addition to the ORSAA. Contact the financial aid office at the colleges you are interested in to find out if you should complete both applications.
Do NOT complete the ORSAA if you are a U.S.. citizen, a legal noncitizen with an Alien Registration number, or an international student who is in the United States with a valid visa. You are not eligible to receive Oregon Opportunity Grants or Oregon Promise grants if you are an international student attending school in Oregon under one of the following visas: A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, TN, TD, V, TROV, or NATO.