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4 Steps to Applying for Financial Aid

 

To apply for financial aid including grants, loans and work study program, complete the Free Application for Federal Student Aid (FAFSA) each academic year.

Step 1: Gather Required Documents for 2009 - 2010

Before you begin, you will need to gather the proper documentation. The list of required documents for 2009-2010 include:

• Your Social Security Number 
• Your driver's license (if any)
• Your 2008 W-2 Forms and other records of money earned
• Your (and your spouse's, if you are married) 2007 Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia or Palau
• Your parents' 2008 Federal Income Tax Return (if you are a dependent student)
• Your 2008 untaxed income records - payment to tax-deferred pension and savings plans, child support received, untaxed portions of IRA distributions, untaxed portions of pensions, or veteran noneducation benefits 
• Your most recent bank statements
• Your most recent business and investment mortgage information, business and farm records, stock, bond, and other investment records
• Your alien registration number or permanent residence card (if you are not a U.S. citizen)

Step 2: Obtain a PIN

Filing the FAFSA electronically is the fastest and most accurate way to apply for financial aid. If you wish to file a FAFSA electronically, you will need to obtain a PIN before completing the FAFSA. To obtain a PIN request it online at www.pin.ed.gov. Allow approximately 2 weeks to receive the PIN in the mail or 3 to 5 business days via e-mail.

Step 3: File a FAFSA 

Incoming Freshman should complete the FAFSA by February 15th priority date for the Fall 2009 and Winter 2010 semesters.  All other students (continuing and transfers) should complete the FAFSA by the March 1 priority date* for the Fall 2009 and Winter 2010 semesters. List the Wayne State University federal code, 002329, on your FAFSA to assure that the application data are sent to WSU. Beginning in January 1, you can file either of two formats of the FAFSA, paper (available from the Office of Student Financial Aid) or electronic. The U.S. Department of Education strongly encourages applying for financial aid via FAFSA on the Web. After all required information has been entered on FAFSA on the Web.

*The priority date is the date by which your FAFSA should be submitted to facilitate determination of your eligibility for financial aid before the beginning of the fall semester. The priority date is not a deadline. You can submit the FAFSA after the priority date.

Step 4: Follow Up

Approximately 4 weeks after filing your FAFSA, the federal processor (the Central Processing System of the U.S. Department of Education) will mail a Student Aid Report (SAR) to you at the address listed on your FAFSA. If you provide an e-mail address on your paper FAFSA or on FAFSA on the Web, the federal processor will send an e-mail message containing a link to your online SAR.The Office of Student Financial Aid will use the data on the SAR to determine your eligibility for financial aid.

Getting Help The U.S. Department of Education provides online help completing the 2009-2010 paper FAFSA as well as assistance completing FAFSA on the Web. Help is available via telephone at the Federal Student Aid Information Center: 1-800-4-FED-AID [1-800-433-3243].

Tips for Filing the FAFSA

• Read the instructions for the FAFSA carefully before you complete it.  This is very important.  Errors and omissions delay the processing and awarding of funds.
• Make sure your name and SSN are correct on the FAFSA to prevent delays and carefully review your answers before submitting the application. 
• Carefully review Section 2 (student dependency status) as the questions have expanded.   Students who answer "no" to every question will be considered a "dependent" student for the purpose of applying for financial aid.  Dependent students are expected to provide their parent(s) SSN's, last names, first initials, date of birth, and financial information. Dependent students who are unable to provide parental data due to extenuating circumstances may still complete the FAFSA online but the application will be considered incomplete and the student will have to speak to the Financial Aid Office for further guidance. 
• A "dependent" in the household number is a child or person who lives with you, receives more than half of their total support from you, and will continue to be supported by you from July 1, 2009 to June 30, 2010 for the 2009-2010 FAFSA.
• When you complete Section 3 (parental finances) and Section 4 (student finances) of the FAFSA, pay special attention to the tax line numbers given for some questions.  These will guide you to the correct figures located on your tax return. 
• Worksheet A has been removed from the FAFSA for 2009-2010. 
• Complete the 2008 Additional Financial Information and the 2008 Untaxed Income Worksheets.  Be sure to include any federal work study earnings from the previous year under the Additional Financial Information Worksheet.
• Make certain that all required signatures are present on the FAFSA before submitting electronically or mailing.  If you and/or your parent did not obtain a PIN you have 14 days to mail the signature page to the Federal Processor.  After 14 days the Federal Processor will mail a paper Student Aid Report to your mailing address.  You will be required to either go online to www.fafsa.ed.gov and electronically sign the FAFSA or sign and mail the last page of the SAR to the Federal Processor.  
• Be sure to list WSU's federal school code:  002329.  If you do not include WSU on the FAFSA, we will not receive your information and will not be able to provide you a financial aid award package.
• Students admitted to the School of Medicine should use school code: E00570
• Students admitted to the Law School should use school code: E00435 

UPDATE (03/04/09):

8 Easy Steps to the FAFSA (2009-2010) - a HOWTO video that easily demonstrates filling out the Free Application for Federal Student Aid, broken up into the following sections:

Info About You, Your Dependency Status, Your Parents' Information, Your Finances, Schools to Receive Your Results, Preparer's Information, Review FAFSA And Apply Signatures, Submit Your FAFSA