It’s FAFSA time
Ready to apply for financial aid? You’ll find everything you need to know here about filing your FAFSA.
Description of the video:
[video description: The IU logo appears on the screen, followed by the word “FAFSA.”]
Voiceover: You’ve heard about it. You know it’s important. But what exactly is the FAFSA, and what can it do for you? Keep watching, and we’ll tell you everything you need to know.
[video description: Title: “Everything you need to know about the FAFSA.”]
Voiceover: FAFSA stands for “Free Application for Federal Student Aid,” and completing it is your first step in getting financial aid for college.
[video description: Graphic of a house. Roof pops open, and numerals and money symbols float in and out of the house.]
Voiceover: You’ll fill in your household’s financial information, which colleges will then use to determine your eligibility for scholarships, grants, work-study, or loans.
[video description: Timeline graphic, beginning with October 1 and ending with April 15.]
Voiceover: The FAFSA opens on October 1 every year. Our priority deadline is April 15, but we recommend completing it as soon as possible during your senior year.
[video description: Graphic of campus building with IU flag on top. Text: “Complete each year.”]
Voiceover: Once you’re a college student, you’ll need to complete the FAFSA each year to remain eligible for financial aid.
[video description: Graphic of computer screen. User types “FAFSA.GOV.”]
Voiceover: Ready to get started? Visit fafsa.gov to create your Federal Student Aid ID, which is the username and password you’ll use throughout the entire FAFSA process.
[video description: Computer screen is replaced by smartphone, which displays myStudentAid app.]
Voiceover: You can complete your FAFSA online at fafsa.gov, or you can use the myStudentAid app on your smartphone.
[video description: Graphic versions of Social Security card, bank statement, and tax form appear.]
Voiceover: When you’re filling out your FAFSA, make sure you have at least one parent or guardian with you, since you may need information like Social Security numbers, bank statements, and tax returns. It takes most families about 30 minutes to complete.
[video description: Graphic of analog clock showing passage of 30 minutes.]
Voiceover: To ensure that Indiana University Bloomington receives your information, be sure to list our federal school code: 001809.
[video description: Text: “IU Bloomington’s federal school code: 001809.”]
[video description: Graphic of “SUBMIT” button, with pointer hovering over it.]
Voiceover: Before you hit “Submit,” read over your information carefully to make sure you’ve answered everything correctly.
[video description: Pointer clicks the button, then turns into an icon of two clapping hands.]
Voiceover: Then give yourself a round of applause! You’re one step closer to paying for college. Watch for notifications from IU.
[video description: Graphic of envelope. Text: “Financial award notice.”]
Voiceover: We send Financial Award Notices starting in February.
[video description: Text: “Questions?”]
Voiceover: Questions? We’re here for you.
[video description: Text: “studentcentral.indiana.edu”]
Voiceover: Visit Student Central any time to find information, answers, and tips on financial aid and managing costs.
[video description: IU logo. Text: “Indiana University Bloomington.”]
Make sure you have the important pieces of information listed below. Having everything together before you start will make filling out the FAFSA easier.
To file your FAFSA, you (and one of your parents, if you are a dependent) need to create a Federal Student Aid (FSA) ID. This is a username and password combination that you’ll use to securely access your financial aid information and electronically sign your FAFSA.
Learn more about your FSA IDIU Bloomington’s federal school code is 001809.
Use the IRS data retrieval tool
When you update your FAFSA after filing your taxes, you may be able to use the IRS Data Retrieval Tool to import your tax information directly into your FAFSA. You’ll find the IRS data retrieval tool in the Financial Information section of your FAFSA.
To use the tool to pull your tax information in automatically, you must have:
- Filed a federal tax return with the IRS
- A valid social security number
- An FSA ID
Enter your data by hand
If you're not able to use the IRS data retrieval tool, you can enter your data manually.
You’ll need your federal tax return and W2 form for the year before (if you file your FAFSA by December 31) or for two years before (if you file your FAFSA after January 1) AND
- Your parents’ federal tax return and W2 form if you’re a dependent OR
- Your spouse’s federal tax return and W2 form if you’re married
Use estimated data
You can file your FAFSA even if you haven’t completed your tax return yet (remember, you can apply for the next year as early as October 1). Select “Will File” on the FAFSA application and give your best guess at the numbers. After you file your taxes, you can update your FAFSA and change your status to “Already Filed.”
You’ll need your Social Security number. You’ll also need your parents’ Social Security numbers if you’re a dependent.
Not a U.S. citizen? You’ll need your alien registration number, also known as your alien number, A-Number, or USCIS#.
You’ll need information about your savings, investments, and business assets. You’ll also need information about your parents’ savings, investments, and business assets if you’re a dependent.
Once you’ve gathered everything you need, you’re ready to file your FAFSA. The online application will guide you through the process—just follow the directions on the screen. You’re all set!
A note about dependency
Your dependency status is determined by a group of dependency questions on the FAFSA. If you can’t answer “yes” to any of the questions, you’ll be considered dependent and advised to supply parental information on your FAFSA.
You’re considered to be a dependent if you:
- Are under 24 years old
- Are not a graduate or professional student
- Are not a veteran or member of the armed forces
- Are not an orphan or ward of the court
- Are not homeless or at risk for becoming homeless
- Are not an emancipated minor