Edition: High School
Part: 2 - - The Application Process for Financial Aid
SectionTitle: How to apply
A student MUST apply for federal student aid by using a FAFSA. A student must complete a FAFSA even if he or she is applying only for a Federal loan. A student does not have to pay a fee for submitting a FAFSA. However, a student may be required to fill out additional questions on a separate, nonfederal form, called a supplemental form, to be considered for state or institutional aid, and a fee may be charged for processing this additional data. Students may wish to check with the schools to which they plan to apply and their state agencies to find out if they use the FAFSA to award aid or if they require applicants to submit additional information.
Students may also apply for aid electronically through the Electronic Data Exchange (EDE). For colleges and career schools that participate, EDE allows financial aid administrators or students to enter the data required for the FAFSA using a personal computer or a mainframe system. After the financial aid administrator reviews the entered data, the information is sent electronically to the CPS. The CPS in turn processes it and sends the school an electronic ISIR. The ISIR is the electronic version of a SAR. Students who file electronically should use a paper FAFSA, copies of their income tax returns (and their parents' returns), W-2 forms, current bank statements, and records of any stocks, bonds, and other investments and assets to help them complete the electronic FAFSA.