Applying for Federal Student Aid

Applying for Financial Aid can be a very simple process, but must be done each year. Everything begins with the filing of the Free Application for Federal Student Aid (FAFSA). This can be done for the next financial aid year as early as October 1. Applicants should have the family's income tax material available, so that information is accurate when completing the FAFSA.

Watch the video: Financial Aid Myths

 

 

Steps to File the FAFSA

1.) Dependent students and their parents must apply for a verified FSA ID  from the U.S. Department of Education, https://fsaid.ed.gov/npas. A FAFSA is not considered complete until both the parent and student have updated it with their FSA ID. Independent Students must apply for a verified FSA ID. This is considered the online signature form.

2.) Upon receiving a FSA ID, students complete the FAFSA online, www.fafsa.ed.gov and must include Studio Incamminati's Federal Code 04232000

3.) When filing FAFSA on the web, students are encouraged to use the IRS DRT (Data Retrieval Tool), which allows the U.S. Department of Education to access tax year data directly from the IRS, rather than the student providing the data. This ensures the most accurate aid award and may satisfy the need for further tax information if selected for Federal Verification.

4.) After submitting the FAFSA, students receive notification from the Federal Government in the form of a Student Aid Report (SAR). The SAR contains the Expected Family Contribution and Pell Grant and Federal Direct Loans eligibility. Students must review carefully and correct any errors found.

An online tutorial is at www.finaid.ucsb.edu/fafsasimplification/

When Should Students File?
Students must file a FAFSA each academic aid year to be eligible for financial aid. We encourage new and returning students to file their FAFSA by Oct. 15. This new, earlier date allows students to get a head start on determining what type of aid they qualify for.

Who is Eligible to Submit a FAFSA?
1. A student applying for, or already enrolled in, the Advanced Fine Art Program and
2. Is a U.S citizen or eligible non-citizen and
3. Has a valid Social Security card on file with the Social Security Administration

Dependent Student v. Independent Student
When applying for aid, it must be determined if students are dependent or independent status. The U.S. Department of Education has specific criteria that determine a student's status. The FAFSA will ask a series of questions that helps determine status. For an Independent Student, one of the following criteria must be met:
• Be 24 years of age
• Be in a graduate program (beyond a bachelor's degree)
• Be married
• Have children he or she supports
• Have legal dependents
• Be an orphan or ward of the court
• Be a veteran
• Be emancipated
• Be an unaccompanied youth who was homeless or at risk of being homeless

Dependent Students are claimed on the parent's income taxes. Federal aid programs are based on the concept that a dependent student's parents have the primary responsibility for their children's education. If students do not meet the Independent Student criteria listed above, parent information is required.

Additional Tips
Students should pay special attention not to make errors when filing the FAFSA and verify all personal information, including the Social Security number and date of birth. Errors can cause delays in financial aid awards.

Students also should review the information that is sent back after filing the FAFSA on the Student Aid Report. Errors are indicated on the report. Corrections can be made by going back into the FAFSA at any time. The report may also indicate students have been selected for a Verification Audit Review.

NOTE: Federal Student Loans will not be disbursed to student's account until he or she electronically completes both an Entrance Interview and signs the Master Promissory Note (MPN). Both of these can be completed by visiting www.studentloans.gov. A FSA ID and Social Security number are required to complete this process. The FSA ID is assigned when filing the FAFSA. The number can be retrieved by visiting https://fsaid.ed.gov/npas.

Important FAFSA Information
After submitting the FAFSA application to the Federal Processor (U.S. Dept. of Education), students will receive a Student Aid Report (SAR) in the mail (if applied by paper application) or by the WEB (if applied online). The SAR is a hard copy of the information provided on the FAFSA. This report tells the student's Expected Family Contribution (EFC). It also gives the opportunity to correct any errors or update data. Students, who estimated their financial information when originally filed, must now use the SAR to correct data with accurate information. Students who are dependent must also have their parent sign the form. The third item students should review is the list of educational institutions that will receive financial information. Important: Students must ensure that the Studio Incamminati code, number 04232000 is listed on the SAR.

Verification
Each year the U.S. Department of Education requires schools participating in the Title IV, Federal Student Aid programs to verify the consistency and accuracy of data submitted on the Free Application for Federal Student Aid (FAFSA). Any student who completes a FAFSA may be chosen for verification by the Department of Education. Nationwide, about 30% of all FAFSA applications are selected.

If selected, students (if independent) and their parents (if dependent) must supply documentation to confirm the data reported on the FAFSA form. Students must submit the verification worksheet and copies of their federal income tax transcripts or their parents. The Financial Aid Administrator notifies students regarding the necessary documentation that is required to satisfy the verification requirement. No federal financial aid may be credited to the student's account until this process is completed.

"C" Flags
The U.S. Department of Education checks the FAFSA information with other federal agencies. "C" Flags indicate inconsistent information or information that could not be verified by the USDE system. All "C" flags are identified on the Student Aid Report (SAR) with an explanation on Part I of the SAR. All "C" flag issues must be resolved before the Financial Aid Administrator can disburse any financial aid. Resolution can occur through the assistance of certain federal agencies. You will be notified by the Financial Aid Administrator of the documentation or actions required to remove the "C" flags.

Selective Service
Men aged 18 through 25 are required to register with the Selective Service System in order to receive federal funding. Men who are between the ages of 18-25 and have not registered must register at www.sss.gov as soon as possible. Men over the age of 25 and have not registered for the Selective Service should contact the Financial Aid Administrator.