College is a busy time in the lives of parents and students alike, and one thing you may have on your list of things to do is the FAFSA (Free Application for Federal Student Aid). Filing the FAFSA without prior experience is daunting, especially when all of the tax information needed for completing the form may intimidate your student. They will appreciate your willingness to answer their questions and provide assistance when needed. Below you will find a list of important information from Financial Aid that will guide you and your student through the application process.
1. Due Date
The priority filing deadline for the 2020-2021 school year is April 15, 2020, but students who file the 2020-2021 FAFSA by April 15 will be prioritized for financial aid packaging. It’s sort of like a fast pass at your favorite theme park. The Financial Aid Office will begin communicating financial aid awards to those students beginning the week of March 16, 2020.
The filing deadline for Indiana residents is April 15, 2020.
All students must have their 2020-2021 FAFSA filed before the arrive to campus for move-in day.
2. Tax Information
When filing the FAFSA, your student may wonder what tax information they will need to use. For the 2020-2021 school year, the application will require your and your student’s tax information from 2018.
3. School Codes
IWU’s school code is 001822. By using this code, your student’s FAFSA data will be sent to IWU.
4. Using the App
Previously, the FAFSA needed to be filed using a website. As of 2018, the Department of Education launched an app that made the form accessible on mobile devices, which means you and your student can use any device of your choosing to complete the form. Download the myStudentAid mobile app, and select myFAFSA on the menu screen. Then log in or create an account. When filing the form from the app, there will be a menu asking whether you are a student or parent. Based on the menu selection, the form will be tailored for the user.
5. FSA ID
Every student and parent apply for a unique electronic signature using personal identifiable information. The student must sign up for a FSA ID and the parent must also have a unique FSA ID. FSA IDs can be applied for here. Students and parents use the FSA ID to electronically sign the FAFSA and other federal documents such as Master Promissory Notes. Tip: students and parents must apply on their own and each must use a unique email address.
6. FAFSA location
The FAFSA is a free form. We encourage parents and students not to pay anyone to file the FAFSA.
Has your student filled out the FAFSA yet? Share this video of helpful tips and tricks to filling it out with them to guarantee they save the most money for their college investment!
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