Financial Aid Handout Wechs Revised

FINANCIAL AID & SCHOLARSHIP INFORMATION RESOURCES
THE FREE APPLICATION FOR FEDERAL STUDENT AID OR FAFSA is a form the federal government uses to
determine the types and amount of financial aid you might qualify for. The FAFSA is the key to unlocking
financial aid from the federal government, states, and colleges. This application is used to award grants,
scholarships, work study and student loans.
1. The Free Application for Student Financial Aid (FAFSA) is available online on Oct. 1, 2017.
2. Access the FAFSA by going to www.fafsa.gov.
3. The FAFSA4caster will estimate your eligibility for federal student aid and help you understand your
options. The link is in the lower right corner of the home page.
4. One parent and the student must create a FSA ID (Federal Student Aid ID). Go to the lock icon at the top
of the home page. The student and parent must sign the FAFSA with the FSA ID for the FAFSA to be
processed. Keep FSA IDs where they can always be located. IDs can be created before October 1.
5. Gather the necessary documents (list of colleges where you want to apply, social security #, drivers
license #, 2016 tax records, records of untaxed income, and records of all your assets (money).
6. Complete the 2018-19 FAFSA using 2016 tax information.
7. Use the IRS Data Retrieval Tool if it is available. This tool allows students and parents to transfer IRS Tax
return data directly into the FAFSA from the IRS web site.
8. Add FAFSA deadlines to your calendar.
9. After submitting your FAFSA, you should receive an e-mail within 3 to 5 days with instructions on how to
access your Student Aid Report (SAR) online. The SAR summarizes your FAFSA info and indicates your
Expected Family Contribution (EFC) or the amount of money your family can afford to pay for college. Log
in with your FSA ID to view the report on fafsa.ed.gov. If your FAFSA is incomplete, your report will note
what you need to do to complete it. Do so ASAP! (C=FAFSA info is mismatch with social security administration
*=selected for verification Data Release Number(DRN)=send to schools not listed on FAFSA so they can retrieve FAFSA info)
10. Complete the verification process if you are selected without delay.
11. Review your Financial Aid Award Package. After you receive college acceptance letters, you will get a
financial aid award letter from each school. Just because you are eligible for a certain type of aid does not
mean that you must accept it. Accept all the free money and work-study before any loans. If you must tap
into loan dollars, borrow only as much as you truly need.
12. Parents: Once your first childs FAFSA form is complete, youll get to a confirmation page with a hyperlink
that says, transfer your parents information into a new FAFSA. Click that link (turn off pop up blocker).
DONT GET SCAMMED - Do not pay for a scholarship search or to have a FAFSA application completed or filed.
Here are signs you are being scammed:
1) Scholarships guaranteed or your money back.
2) You cant get this information anywhere else.
3) May I have your credit card # to hold this scholarship?
4) Well do all of the work.
5) This scholarship will cost some money.
SCHOLARSHIP AND FINANCIAL AID WEBSITES

*www.scholarshipplus.com/wake/ - WCPSS on line scholarship guide. Students & parents can access info
about hundreds of scholarships including Wake County high schools.
www.cfnc.org - Access to scholarships and college info. Helps you plan and apply to colleges. You can create
your FSA ID here.
[email protected] Information about financial aid from the federal government.
*www.finaid.org - Gives Expected Family Contribution estimator. Financial aid site with links to free
scholarship search programs.
*www.collegeboard.com - Free on-line scholarship search service. Gives Expected Family Contributor
estimator. CSS financial aid profile.
www.wiredscholar.com - Scholarship search
*www.collegenet.com - Scholarship search
www.collegeview.com - Scholarship search
www.edupass.org - International student website-Lists financial aid/scholarship info
www.uncf.org - Scholarships available to students attending historically black colleges
www.brokescholar.com
www.college - answer.com
www.apiasf.org - Scholarships for Asian and Pacific Islander Americans
Federal Student Aid Information Center (US Dept. of Education) 800-433-3243.
*free scholarship search
SCHOLARSHIP- A Scholarship does not have to be paid back and is awarded on a

combination of academic achievement, character, extracurricular activities, and other
criteria that may be specified by a scholarship.
WORK STUDY Employment/Work Study opportunities are part-time jobs-usually on the college campus.
GRANT- A grant is money that does not have to be repaid.
LOAN- A loan must be repaid, but repayment is usually required after the student is no longer enrolled.
Ms. Linda Taylor, Financial Aid Advisor, is available to help parents and students with financial aid
questions. Go to the Student Services Office or call (919-532-5660) to make an appointment.
Wake Early College of Health and Sciences, WTCC Northern Campus,

Building C, Room 433, 6600 Louisburg Road, Raleigh NC 27610

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FINANCIAL AID & SCHOLARSHIP INFORMATION RESOURCES

SCHOLARSHIP AND FINANCIAL AID WEBSITES

SCHOLARSHIP- A Scholarship does not have to be paid back and is awarded on a

Wake Early College of Health and Sciences, WTCC Northern Campus,

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