AwardYear: 1996-1997 Edition: PostSecondary Part: 2 - - The application process for financial aid SectionNumber: SectionTitle: How to apply PageNumbers: 25-26 A student MUST apply for federal student aid by using the FAFSA or the Renewal FAFSA. For 1996-97, the Department mailed Renewal Applications to students who applied for federal student aid in 1995-96 and who met certain conditions--for instance, their Social Security Numbers and addresses were valid, they were not in default, and so forth. These students received Renewal Applications in the mail or from their schools between December 1995 and January 1996. Students may use this application rather than the FAFSA to apply for aid for 1996-97. Students must file FAFSAs even if they are only applying for a Federal Direct Loan or a Federal Family Education Loan (FFEL). A student does not have to pay a fee if he or she fills out only the FAFSA. However, a student may be required to fill out additional questions on a separate form in order to be considered for some state or institutional aid, and a fee may be charged for processing these additional questions. Note that the FAFSA has state data elements that a number of states use to award aid. Check with your state agency to find out if it requires applicants to submit additional information to receive state aid. Students may apply for aid electronically through the Electronic Data Exchange (EDE) or FAFSA Express. A student who files through EDE should first complete a paper FAFSA to take to the school. Students filing through either EDE or FAFSA Express will need 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 used in completing the electronic FAFSA. For institutions or schools that participate, EDE allows financial aid administrators or students to enter the data required for the FAFSA using a computer. After the financial aid administrator reviews the entered data, the information is sent electronically to the central processing system (CPS). (The student's signed FAFSA must be kept on file by the school.) The CPS then processes the data and sends the school an electronic ISIR and the student a one-part SAR Information Acknowledgement containing the student's information and the results of the eligibility calculation. Bear in mind that if the student is submitting an electronic application or electronic correction application, you must obtain the student's signature on a completed paper application or on the "echo document" printed from an electronic FAFSA that is filed through EDE, and you must keep it in your files even if the student does not receive federal student aid or does not attend your institution. If a student completes the FAFSA using FAFSA Express, he or she transmits it to the CPS. If a printer is available, the student should print, sign, and mail a signature page to the FAFSA processor. The CPS processes the data and sends the student a SAR; if the student does not submit a signature page within 21 calendar days, the CPS prints and mails a rejected SAR (one without an EFC) to the student. The SAR must then be signed and returned to the FAFSA processor. Each year, schools are also able to participate in the Renewal Application process. Beginning in the fall of each year, a school may request that Renewal Applications for students who listed that school on their applications for the previous year be printed by the CPS and mailed in bulk to the school. The school may request applications for all students who listed that school or for selected students from that group. The school is then responsible for distributing the Renewal Applications to the students. Alternatively, schools participating in EDE may request the electronic Renewal Application records for their students at any time during the school year. The school can then print out Renewal Applications and provide them to students. The student must provide new financial and some nonfinancial information but can leave the other information the same if it has not changed. For questions about Renewal Applications, please call CPS Customer Service at (319) 339-6642. Please note that Dear Colleague Letters and Action Letters sent to schools each year provide further information on deadlines and procedures. |