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The Financial Aid Process

 
 
The Financial Aid Process
 

Complete the Free Application for Federal Student Aid (FAFSA). These forms are now available in the guidance office. For those who have Internet access, file the FAFSA on-line at www.fafsa.ed.gov. This is a FREE application site. Be careful to type in the correct web address – there is a similar site which charges a fee.

• Filing the FAFSA electronically is faster and the information is dispersed more quickly to your college choices. Starting in 2016, filing can be done as soon as October 1, much earlier than in past years.

There is also an IRS data retrieval tool to quickly import last year's tax and income information, so there is no need to wait for the current year tax information to be completed, and families are encouraged to submit their FAFSA as soon as they can after October 1.

• When filing electronically, parents and students should BOTH have "FSA ID's." These ID's are new, and replace the old PIN #'s. If you have created a PIN # in the past, you will need to create an FSA ID, which is more secure. The FSA ID is your electronic signature. You will also need this ID to make any changes to your FAFSA info. You can apply for a FSA ID now at www.fsaid.ed.gov

• Even if you file using the paper version of the FAFSA, you should register to have a FSA ID. Eventually, the paper version will be converted to an electronic version and you may make changes on the web. You will need the FSA ID in order to do this.

• There are many resources available to help you with the financial aid process. High school guidance counselors are able to answer questions regarding the FAFSA. There is also a Financial Aid consultant available one day a week in the high school. To make an appointment call the Guidance Office at (607) 775-9115 or Educational Talent Search directly at (607) 777-5430. The Financial Aid advisors at BCC and Binghamton University will also be more than happy to answer any questions you may have as you go through the process, whether or not your student is planning to attend those schools.

• There are several FAFSA walk through videos on YouTube, such as this one: https://youtu.be/9fSeHK4ceGs

• In January and February, parents and students can e-mail questions to experts at the website of the NYS Financial Aid Administrators Association. That address is www.nysfaaa.org

• A few weeks after you file the FAFSA, you will receive your Student Aid Report or SAR. This report explains your eligibility for financial aid and is sent to all the college you listed on your FAFSA. Follow the instructions on the SAR for any changes you may need to make to the information provided.

• Each and any of the websites listed below provide a wealth of information to help you in the financial aid process. Please take the time to become familiar with what they have to offer.

• And remember: you must reapply for financial aid each year that you are in college, so it pays to learn the process now!

NYS Financial Aid Administrators Association
http://studentaid.ed.gov
Federal Student Aid
www.nasfaa.org
National Assoc. of Student Financial Aid Administrators
www.fafsa.ed.gov
Free application for Federal Student Aid
www.hesc.com
Higher Education Services Corporation
www.fsaid.ed.gov
To request an FSA ID
www.mapping-your-future.org
Selecting a school, planning a career, paying for school
www.collegeboard.com
College Board
www.gmsp.org
Gates Millennium Scholars
www.scholaraid.org
Free scholarship and financial aid resources
www.finaid.org
Types of available aid, scholarship information, loans, calculators
www.fastweb.com
Scholarship search