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But it is also the first step to other aid- state grants and scholarships, state college loans, college grants and scholarships and university student loans. The information you submit will allow Federal Student Aid to calculate your FAFSA EFC number. This Expected Family Contribution figure is not the actual amount that will be demanded you pay for college- rather it is an index which tells the federal government, your state and your college how much and what kind of financial aid they should provide. The lower the number, the more aid you can expect. Here are some very basic questions that people who ask, "What does FAFSA stand for?" usually want answers to: Should I Wait to Fill Out FAFSA Until I Know Which School I Am Going To?No! If you wait until then, you risk missing out on your college's financial aid as well as your state's. Each state (and some colleges) has its own FAFSA deadline.If you file a FAFSA online application, you can list up to 10 schools to receive your information. If you use a printable FAFSA application you can list up to 4 schools. (When you renew FAFSA every year, the online form is prefilled with your information.) What Kind Information Do I Need to Supply?
All financial information needs to be for the year prior to admittance. So if you were filling out information for the 2010-2011 school year, you would use your 2009 tax information. Why Aren't I Considered Independent/What if My Parents Won't...?This one shocks everyone, every year- For financial aid purposes you are independent if you can answer "yes" to one of these:
The "why" is pretty simple. Almost every 18 year old would be entitled to an expected family contribution of "0" if only their income was considered. (There aren't many who are making more than $30,000) "Special circumstances" can allow you to be considered independent. Parents who do not want to give their information are not special circumstances. On the 2010-2011 FAFSA application you are now given the option of getting unsubsidized federal loans if your parents refuse to support you. Who Will this Information be Shared With?Pretty much anyone the federal government wants to share it with. The information will routinely (for purposes of determining financial aid) be given to:
The information will also be shared with any agency that the U.S. Department of Education relies on to certify its accuracy, including (but not limited to) the:
What does FAFSA stand for?- Well, the second "F" does stand for "Federal". In the unlikely event that the Department of Education is involved in a lawsuit, your information could wind up in court. If there is evidence in your information that a violation of law has occurred or will occur, it may be given to a foreign, federal, state or local enforcement agency. They may even turn over information to a consumer reporting agency for a valid claim. And unless you know you have a good reason not to share your information, go for it. All of these agencies can probably get your information anyway (if they want to). How Secure is the FAFSA Website?Your information is safer than ever. When you apply for your FAFSA PIN, social security numbers and birth dates never appear on the screen- they are converted to a code as soon as they are entered. A virtual keyboard is used for entering this information so it will be less likely to be intercepted. These improvements take effect in January 2010.return from what does FAFSA stand for to FAFSA return from what does FAFSA stand for to college loan consultant homepage |
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