Financial Aid:
The Free Application for
Federal Student Aid (FAFSA)
FAFSA: Basic Facts
What is it?
FAFSA stands for Free Application for Federal Student Aid. The federal government uses this form to determine your eligibility for financial aid which includes, grants, work-study, and loans.
Why fill it out?
The FAFSA is used to determine how much aid you are eligible for by calculating your Expected Family Contribution (EFC). A school cannot process your financial aid without it.
What is EFC?
EFC stands for Expected Family Contribution, which is the amount your family can be expected to contribute each year towards your college costs.
What type of aid can I expect to receive?
Your prospective college will try to meet your financial aid needs through federal and state programs which include grants, work-study, and loans.
FAFSA: Step by Step
Step 1: Get Organized
A. You will need the following documents in order to complete the FAFSA (for the 2008-09 college year):
Social Security Number and parents' SSN (if dependent)
2007 federal income tax return (1040, 1040A, 1040EZ, etc.) or W2s if you did not file a tax return
Parents' 2007 income tax return (if dependent)
Driver's license (if applicable)
2007 untaxed income records (if applicable)
Current bank statements
Current mortgage and investment records (if applicable)
Alien registration card (if not a U. S. citizen)
B. Print a Pre-Application Worksheet.
Go to www.fafsa.ed.gov and click on 'Before Beginning a FAFSA.'
Dependent students can use the Pre-Application Worksheet to help parents write in information at their convenience.
C. Plan how to sign your FAFSA.
Speed the process by electronically signing the FAFSA with your PIN.
Go to www.pin.ed.gov to apply for a PIN.
If you are a dependent, your parents also need to apply for a PIN.
Step 2: Complete the FAFSA
Go to www.fafsa.ed.gov to complete the FAFSA.
Fill in all required boxes. Refer to tax return line numbers where applicable.
Enter the six digit school code for school (s) you plan on attending. CCCCD school code is 016792.
Don't forget to print your completed FAFSA for your records.
Step 3: Review your Student Aid Report
FAFSA will send you a Student Aid Report (SAR) in 2-3 weeks via e-mail or mail.
The SAR is verification that your FAFSA was received. Review it carefully for incorrect information.
What if I need to make corrections?
You can fix the errors by changing the information on the SAR and returning your SAR to FAFSA for further processing.
Or you can go online to www.fafsa.ed.gov and make corrections.
What if I don't receive a SAR?
Call 1-800-433-3243 (1-800-4-FIN-AID) if you do not receive your SAR in 4-5 weeks. You will be asked to provide your name, SSN and DOB for verification.
Step 4: Follow up with the school (s) you plan on attending
Complete all financial aid paperwork required by that school.
Once all paperwork is received, it typically takes two to four weeks to process (four to six weeks during busier times).
Step 5: Review award letter and accept aid
Follow all instructions in award letter to acknowledge or accept the aid awarded.
Financial Aid Calculators
FAFSA Forecaster: - using the FAFSA Forecaster, you and your family will receive an early estimate of eligibility for federal student aid.
Early Award Calculator - this early award calculator will give you a realistic estimate of your financial aid package at any University of Texas campus you are interested in attending.
Scholarships
Comprehensive listing: A compilation of scholarship websites, including individual scholarships as well as scholarship search portals.
Collin College Foundation - it is the Foundation's goal that every student have access to the educational excellence provided at Collin.
Other scholarship search engines
Broke Scholar -- http://www.brokescholar.com
CollegeNET -- http://www.collegenet.com
FinAid -- http://www.finaid.org
Financial Aid Finder -- http://wwww.financialaidfinder.com/
Free Scholarship Search -- http://www.scholarships.com/
Next Student -- http://www.nextstudent.com
SchoolSoup -- http://www.schoolsoup.com
Scholarship Resource Network Express -- http://www.srnexpress.com
Latin College Dollars (document) -- http://www.latinocollegedollars.org/Scholarship_Directory.pdf
