Resources for Students and Family

FAFSA Overview:

• Single application completed each year to apply for federal grants, work-study & loans, state of Indiana grants, and some institutional grants/scholarships.
• Snapshot of your families’ income and assets to calculate your Student Aid Index (SAI).  The SAI is an index used by colleges to determine what federal, state, and possibly institutional money you are eligible to receive.
• Skip logic is built into the FAFSA, so you only answer the questions you need to and no more.
• The Futures Act Direct Data Exchange (FADDX) lets the IRS automatically exchange your tax information with Federal Student Aid (FSA) to simplify the FAFSA and improve the accuracy and security of data.  Student or Parent contributor must provide consent for this exchange of info.
• You can list up to 20 colleges on the FAFSA. Encourage you to list at least 1 college from Indiana so that you are in the pool for State of Indiana grants, if eligible.

Resources to help with the FAFSA & Financial Aid:

• Indiana College Goal Sunday Checklist – What You Need

• Common FAFSA Questions :
  • Am I dependent or independent?
  • Who is my parent?
  • What is an FSA ID and why do I need it?
  • How do I use the IRS Data Retrieval Tool to transfer tax info to the application?
• Tip Sheet for Servicemembers & Veterans
• Tip Sheet for Adult Learners
• Tip Sheet for Undocumented Students
• Aid Offer Comparison Worksheet & Financial Aid Glossary