Why is the FAFSA important?

The U.S. Department of Education uses the FAFSA to determine your eligibility for federal student aid, including low-cost loans, grants, and work-study. The FAFSA may also determine your eligibility for state and school aid as well. Anyone who plans to attend college should submit the FAFSA.

Beginning October 1st, the FAFSA Application will be opened for you to submit the 2023-2024 Application. You will complete your application here: https://studentaid.gov/h/apply-for-aid/fafsa. After submitting your FAFSA, you will receive a confirmation email and the first page of your Student Aid Report (SAR) in your FAFSA account (you may ask your counselor if you cannot find the SAR Report). Please submit your SAR Report in this form.

How to read your Student Aid Report: There are five key pieces of information in your SAR that you should pay the most attention to: Expected Family Contribution, verification, Data Release Number, loan summary, and FAFSA changes.

Expected Family Contribution (EFC) Your EFC is an index number that colleges use to determine how much financial aid you’re eligible to receive. Your EFC is calculated according to a formula established by law and the information from your Free Application for Federal Student Aid (FAFSA). Verification If there’s an asterisk next to your EFC, it means your student aid report requires further verification. Data Release Number (DRN) A Data Release Number (DRN) is a four-digit number given to your application by Federal Student Aid. You can provide your DRN to a customer service agent if you need certain changes made to your FAFSA information. Do not give your DRN to anyone other than a financial aid administrator or customer service agent. Loan summary The loan summary on your SAR is where any of your outstanding federal student loans will be listed. FAFSA changes You’ll have the chance to correct any information that was wrong on your FAFSA. How and when you’ll receive your student aid report You’ll receive your student aid report depending on how you submitted your FAFSA. If you provided an email address when you submitted your FAFSA, you can expect to receive your SAR within a few days of electronically filing. If you filed a paper FAFSA, you should receive your SAR via postal mail in three to four weeks. Why your SAR is important It’s important to have an accurate SAR since your financial aid awards are based on the information listed on your report. Review it carefully with your family and compare the information listed to a copy of your FAFSA. The EFC listed on your student aid report will determine the amount of aid you’ll receive.

If you think any of the information on your report is incorrect, correct it by using the Information Review Form on the back of the SAR or by going to the official FAFSA website.