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Financial Aid News and Updates for Parents


Over the course of the past year, our office has made some changes to the financial aid application process. As a result, our office has designed this page to help parents track any changes in the financial aid application process. Please keep reading for information on any recent or upcoming financial aid changes.

FAFSA4caster - NEW

The U.S. Department of Education has just released the new FAFSA4caster. FAFSA4caster is a tool that enables parents and students to estimate their EFC (Estimated Family Contribution) early, giving them a better picture of their future financial aid eligibility. Students are encouraged to complete the FAFSA4caster during their junior year of high school. Please select the link below to access this tool:

Financial Aid Deadlines

The priority deadline for financial aid at FSU is March 1. This means that students wishing to apply for all types of financial aid should file their FAFSA no later than February 15. Our office recommends filing the FAFSA in early January in order to receive the best financial aid package available. Your taxes do not need to be filed in order to complete the FAFSA. Using estimated tax figures from the prior year is acceptable and recommended.

Read Your SAR Comments

Every student who files a FAFSA form receives a Student Aid Report (SAR). Any student who files his or her FAFSA electronically via FAFSA on the web will receive an email from the U.S. Department of Education notifying him or her that the FAFSA has been processed. The same email will include information on how a student may view his or her SAR. It is important that every student view the SAR, and pay particular attention to the section entitled "SAR Comments." The SAR comments section will tell a student if his or her FAFSA has any errors that need corrected, or if the student is selected for verification. Reading the SAR comments immediately after processing a FAFSA is a good way to ensure that the financial aid process runs smoothly.

Financial Aid Award Information for Returning Students

Beginning in June 2005 the Financial Aid Office will be sending all financial aid notifications to returning students via email. As a result, students should check their official FSU email account on a regular basis. It is especially important that students check their emails during the summer months so that they may receive all financial aid information in a timely manner.

Students may also log into their PAWS (student services) account anytime to find out if our office requires any additional information from them before we may finish processing their financial aid. Students may simply log into PAWS, select "Personal Portfolio," and then "To Do List." Students are also encouraged to check their PAWS account and review this information on a regular basis.

Department of Education to Stop Sending Paper Renewal FAFSAs

The Department of Education will no longer be sending out paper renewal FAFSAs for the 2006-2007 school year. Any student who has previously received a paper renewal FAFSA in the mail will now be receiving a reminder to file their renewal FAFSA via email. Students who normally receive a paper FAFSA from the Dept. of Ed. should not wait to hear from them before they file. Students may file a renewal FAFSA for 2006-2007 on the web anytime after January 1, 2006.

Unused PINs to be Disabled

Beginning in July 2006 the U.S. Department of Education will disable any student or parent PIN number that has been inactive for 18 months of more. Any user whose previous PIN has been disabled must reapply for a PIN by visiting the official PIN website.

 

Parent PLUS vs. Student Alternative Loans

Our office recommends that parents borrow through the Parent PLUS Loan Program instead of having students borrowing an Alternative Loan, if possible. Please click the following link for more information on the differences between the Parent PLUS Loan program and the Student Alternative Loan program.

Parent PLUS Loan vs. Alternative Loan Comparison Chart

 


 

 

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