What is the FAFSA?

•The FAFSA is a form completed by current and prospective college students in the United States to determine their eligibility for student financial aid.
•The FAFSA will determine whether you are eligible to receive Loans and Grants from the Department of Education.  The FAFSA is also required for many Scholarship applications.

 

What is Student Financial Aid?

Financial Aid is money that helps a student pay for education expenses at a postsecondary school (college, vocational school, graduate school). Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation.
 

READY, SET, GO – STEPS TO A SUCCESSFUL FAFSA APPLICATION

 

Step 1: Gather your documents so you are ready to go:

•Your 2019 Tax Records for the 2021-2022 FAFSA
•Records of Untaxed Income, including:  child support received, interest income, and veteran’s non-education benefits
•Records of Your Assets
•The school you are attending or schools you are considering -- MSU’s FSA code is: 002532
•Your Driver’s License (if you have one)

Step 2: Complete the FAFSA application at the Federal Student Aid website - StudentAid.gov 

•Log in and create an FSA ID and password.  (Parents and students should have their own distinct FSA ID)

•Complete the application form. Remember the FAFSA is for the students – every time it says “you” it is referring to the student.

Step 3: You will receive notification of your financial aid award. 

Now you need to determine if you need to use all or some of the award based on your college budget plan.

Step 4: Complete Your Paperwork

•Now that you have accepted your aid package you need to complete two more steps:
•Sign your MASTER PROMISSORY NOTE – the agreement between you and the government regarding your loan. https://studentaid.gov/mpn/
•Complete ENTRANCE COUNSELING. https://studentaid.gov/app/counselingInstructions.action?counselingType=entrance
 

IMPORTANT NOTES:

1.Each yeara number offamilies are required to submit additional information to the Dept. of Education – this is Verification.  Your aid will not be cleared until you complete this process.
2.If your grades are below a 2.0 you will be at risk of loosing your aid award. You may be able to submit a Satisfactory Academic Process (SAP)appeal to explain your situation and receive your award.
3.If your family financial situation changes you want want to file a Special Conditions Appeal.
 
The links below offer additional information and access to paperwork related to Verification, Satisfactory Academic Progress, and Special Conditions Appeal
 
verification satisfactory academic progress special condition appeal