How To Pay for College 2022-23
THE FINANCIAL AID PROCESS
Step One: Create a Federal Student Aid Account (formerly FSA ID). Go to studentaid.gov and create your account (formerly called FSA ID). When you visit studentaid.gov you will have access to your application, enrollment history, and summaries of your federal aid received. Your username and password is your electronic signature, so it must be unique to you. It’s important to understand that the student and the parent may not share a federal student aid account. Parents will need their own FSA account to sign the FAFSA electronically. The same parent account can be used to sign applications for more than one student, but each student would need their own student FSA account. The student and parent will not be able to provide the same email address or phone number when creating FSA accounts. Step Two: Complete the Free Application for Federal Student Aid (FAFSA). Go to studentaid.gov to complete your FAFSA. This application is necessary for awarding federal student aid and most state and/or college aid. Step Three: Review the Student Aid Report. You will receive a Student Aid Report with the student’s Student Aid Index (SAI) from the U.S. Department of Education after you complete the FAFSA. Review this report to ensure the information is accurate. If you find incorrect information, you can submit a correction through studentaid.gov. The financial aid office at the school(s) you selected on the FAFSA will receive an electronic copy of your application.
TIP : The FAFSA opens annually on October 1 for the next academic year. (For Fall 2023 enrollment, don’t wait until you file your 2022 taxes. The FASFA for Fall 2023 uses your 2021 tax information.)
Photo Courtesy of: South Arkansas Community College
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