cuStudentLoans Presents

10 FAQs for the

2014 - 2015 FAFSA

Q1. What documents do I need to file the FAFSA?

1. Social security number

2. Driver’s License (if applicable)

- Last year’s W-2 forms and other records of money earned

- IRS 1040, 1040A, 1040 EZ, foreign tax return

3. Parents’ federal income tax return from last year (for dependent students

4. Last year’s untaxed income records

5. Current bank statement information

6. Current business, investment and/or mortgage information, business and

farm records, stock, bond and/or other investment records

7. Alien resident or permanent resident card (if not a U.S. citizen)

Q2. What does the financial aid timeline look like for this year?

Jan 1 - Feb 15 File your FAFSA!

March 1 - March 31 Admissions reponse, financial aid

award letters

May 1 - June 1 Deposits due, verification if selected

June 1 - August 31 Billing statements, payment plans,

student loans

Jan (next year) New FAFSA is due

Q3. Does the order of schools I list on my FAFSA matter for funding

eligibility?

A: While Federal student aid will not be

affected by the order of schools listed, some

state-based funding, and institutional-based

funding may depend on the order in which

schools are listed on the FAFSA.

Q4. What happens to financial aid if I transfer mid-year?

A: Make sure to update your current FAFSA to

reflect the new institution attended, and

confirm the info is received by your new

school so your account can be updated.

Make sure financial aid for your new semester

is re-routed to the new institution, like your

student loans.

Q5. Can I add more than 10 schools to the FAFSA list?

A: After receiving the Student Aid Report (SAR

is the result of the FAFSA after processing by

the Fed), log back into your online FAFSA,

select “Make FAFSA Corrections,” and then

the “School Selection” page to add on.

Q6. What is need-blind admission?

A: Need-blind admission is when a college

does not consider the family’s finances when

deciding whether or not to admit a student.

Q7. What is difference between subsidized and unsubsidized loans?

A: Subsidized loans are government-aided

loans. The government pays the interest

accrued while the student is in school.

Unsubsidized loans are not aided by the

government. The student will be responsible

for those payments during normal repayment.

Q8. My parents are not married, but live together. How should my

FAFSA be filed?

A: The 2014 - 2015 FAFSA has changed.

If biological parents live together but are not

married, they are still both responsible to

supply their financial information for the

FAFSA.

Q9. When is my FAFSA deadline?

A: Deadlines will vary; the earliest standard

date at some schools and in certain states is

Feb 15.

File early to stay ahead of schedule!

Q10. Does my Parent's single family home count as an asset on the

FAFSA?

A: As long as it’s a single family home, your

primary residence, and not considered an

investment property, then it's not considered

an asset on the FAFSA.

FILE YOUR FAFSA TODAY!

START BY CLICKING ON THE PHOTO

BELOW!