Early FAFSA FAQs
I’ve heard that the 2017-18 FAFSA is changing. What’s different?
The 2017-18 FAFSA is easier than ever before and available earlier to facilitate financial aid awarding. The 2017-18 FAFSA will be available on October 1, 2016, three months earlier than the traditional January 1st FAFSA release date. The 2017-18 FAFSA will request information about your 2015 income which can be directly imported to your FAFSA from the IRS by using the FAFSA-IRS Data Retrieval Tool . You will not need to update your 2017-18 FAFSA with 2016 tax information when file; you just file once with your 2015 income.
If I submit my FAFSA in October, when can I expect a financial aid award?
Submitting your FAFSA in October will expedite financial aid processing however, the exact timing of your award depends on a few things, like whether you are an applicant for Fall 2017 admission or a returning student, whether you applied for admission under Early Action I, II or Regular Decision and whether there are any questions which must be resolved when we receive your FAFSA. In general, aid awards will be available as follows:
Applicants for Fall 2017 Admission
If your 2017-18 FAFSA is complete by November 15, 2016, we will make every effort to provide you with a complete financial aid award within a few weeks of a notice of admission to Saint Michael’s. Please note that some federal and state financial aid may be estimated as awards may be issued before federal and state budgets are finalized.
Financial aid awards for returning students will be available in late May/early June 2017. Financial aid awards for continuing students are prepared after we verify academic progression at the end of the school year. We encourage current students to submit the 2017-18 FAFSA in October 2016 to provide ample time for any necessary review and follow up.
Can you provide an aid award before I am admitted to St. Mike’s?
Financial aid awards are provided after students are accepted to St. Mike’s. Prospective students can check out our Net Price Calculator for an estimated range of financial aid and an estimate of what you will pay after financial aid. Keep in mind that the Net Price Calculator is only an estimate.
Can I opt to report 2016 income on my 2017-18 FAFSA instead of 2015 income?
No, the 2017-18 FAFSA requires reporting of calendar year 2015 income. If you have extenuating circumstances and 2015 income does not accurately reflect your family’s current financial circumstances please contact our office to discuss your situation in further detail. We may be able to consider extenuating circumstances such as loss of a job or a job change as part of a financial aid appeal.
My parents’ marital status has changed since 2015 – whose information should be reported on the FAFSA?
First determine which parent(s) information should be reported on the FAFSA, then report 2015 income information for that parent or parents. If you need assistance in determining whose information to report on the FAFSA or how to report income information, give us a call.
I’ve submitted the FAFSA, what happens next?
When you FAFSA is processed by the Department of Education, you will receive your Student Aid Report by e-mail. Your Student Aid Report will also be sent to any schools listed on your FAFSA. Take a moment to review your Student Aid Report for accuracy.
Some FAFSAs are selected for a follow up process called verification. If your FAFSA is selected for verification, we may need additional information or documentation from you. If you are an applicant for Fall 2017 admission, we may provide you with a tentative financial aid award until we have completed the verification process.