FAFSA/ LOSFA Financial Aid

What is the FAFSA?  FAFSA is the acronym for the Free Application for Federal Student Aid.

Why has the state made this a graduation requirement?  Post-secondary training or education is important for financial success.  A major barrier to this training or education is the cost.  Many students do not realize that there is money available through grants, work-study, and loans.  Completing the FAFSA provides access to financial aid from federal, state, and school sources. 

How does a student complete the FAFSA?  The first step is for the student and parent to create an FSA ID at https://fsaid.ed.gov/npas/index.htm.  Once an FSA ID has been created, the FAFSA can be completed at https://studentaid.gov/fafsa-app/ROLES

When should a student complete the FAFSA?  The FAFSA opens on October 1. Students should complete the FAFSA as soon as possible to meet deadlines at the schools they are interested in attending, and because some money is awarded on a first-come, first-serve basis.

What will a student need to complete the FAFSA?  FSA ID for student and one parent, social security number for student and parents, driver's license number, alien registration number if applicable, 2023 Federal tax information for student and parents, records of untaxed income, and asset information.

Where can a student find assistance in completing the FAFSA?  Online help is available via chat while completing the FAFSA or at 1-800-4-FED-AID.

What happens after a student completes the FAFSA?  Within three days the student will receive a Student Aid Report (SAR).  This is a summary of the data entered on the FAFSA and will be sent to the schools the student listed.  The student should review the SAR for accuracy.  If the student has applied and been accepted to any of the schools listed on the FAFSA, the schools will send award letters detailing the financial aid the student is eligible to receive.  The student can accept, decline, or reduce the financial aid offered.

What can the financial aid award be used for?  The award can be used to cover tuition and fees; room and board; books and supplies; and transportation and childcare expenses.

How can the school counselor assist with this process?  Educate yourself on the FAFSA completion process.  Host a FAFSA completion event.  Invite LELA to your school.  Direct students to the financial aid office at the school they plan to attend.  Advertise LOSFA's College Goal Sunday.

All of this information, and additional tools and resources, can be found on the Department's FAFSA webpage or in the FAFSA brochure.