Financial Aid

Page Updated 1/19/12

To go directly to the US Department of Education's FAFSA home page click on the icon:                where you can:

~Start or continue your 2012 FAFSA         ~Correct information for a submitted FAFSA         ~Check the status of a submitted FAFSA

Filing for Financial Aid:  What Do We Do? / When Do We Do It?

All steps can be done now- the 2012-2013 Financial Aid documents are all available after 1/1/12

Step 1:  Set up a PIN accounts for both parent and student .  You will need a PIN for Federal Student Aid and for NY State Student aid - 4 PIN accounts total.  This can be done any time.  Do not lose these numbers, as you will use the same PIN during the entire time your student is in college.

*Click on the graphic below to go to the official US Department of Education's PIN web site to set up student and parent PIN numbers which will allow you to sign your FAFSA electronically

Important:  Your FAFSA  PIN will be emailed to you, usually arriving 3-5 days after submission.  YOU MUST BE SURE TO ADD:  FederalStudentAidPIN@cpsemail.ed.gov to your email address book or safe list to ensure that your Internet Service Provider does not treat this important correspondence as spam. This message will come in the form of a link to view your PIN, which only works one time, so you must write your PIN down the first time you link to it.  This link is only active for 14 days after it is sent, so be sure to check your emails regularly after submission

*Click on the graphic below to go to the NY State Financial Aid site to set up your HESC pins for both student and parent which will allow you to complete your TAP on the Web application to qualify for NY State aid

Step 2:  Check with each college financial aid office to which you are applying to determine which forms you need to file.  All require completion of the FAFSA.  Some colleges require additional CSS profiles or additional financial aid information to be submitted.  Determine the financial aid filing deadlines for the college you plan to attend.  Some institutional aid is limited and eligible students filing first will receive money until funds are exhausted.  Late filers miss out on money.  Some preferred deadlines are as early as February 1.

Step 3:  Parents and students:  Prepare to file your 2011 Federal and State Income taxes as soon as possible after January 1 once wage earning statements and other financial statements / documents have been received.  

Estimates:  Families who are unable to file their income taxes early this year, should estimate income amounts as accurately as possible (based upon last year's tax filing 2010) and fill out the FAFSA accordingly and submit the estimate by Feb 1, then correct the information with actual amounts once tax forms for 2011 are complete.  This is a very easy step using the IRS data retrieval system.

Step 4:  (Optional)  While you are waiting for the January 1 system opening date or while you are awaiting tax returns to be ready, you can get an early estimate of your eligibility for a variety of types of student aid by completing the FAFSA4 Caster.  This site also allows you to compare costs of schools and to imput data directly into the FAFSA when you are ready to submit.  Click on the graphic below. 

FAFSA4caster          

Step 5:  Complete the FAFSA on the Web (FOTW) Worksheet for 2012-2013.  The questions on the worksheet go in the same order as the questions on the actual FAFSA.  Having this document complete, before logging on to do the FAFSA will make the process much more efficient. 

Click here-  FOTW Worksheet

Step 6:  FILE YOUR FAFSA:  Using the information from the FOTW Worksheet, file your FAFSA (see link below) for the 2012-2013  year (preferred filing dates between 1/1/12 and 3/1/12).  VERY IMPORTANT:  On the confirmation page, there is a link directly to the HESC web site, so you can file for TAP on the Web (NYS Financial Aid) as soon as you complete your Federal application.  If you miss this link, you will have to re-enter all your information into the TAP system.

Please Note:  Question #27, asks you to indicate the high school you will graduate from.  If you try to spell our school correctly as "LaFargeville", the system will not recognize it.  So, you must type a space after La and before Fargeville.  It should look like this:  La Fargeville The FAFSA system will hold the data associated with a given password for only 45 days.  So, you should not open an account until you have your tax data filed and are ready to submit your FAFSA The system will log you off after 30 minutes of inactivity, but you will be able to log back in and access all saved data

   Click here to go directly to the US Department of Education's FAFSA home page to complete your FAFSA on the Web.  You should be completing an application for the 2012-2013 school year, if you plan to enroll next fall. Please be sure to click on the TAP on the Web link at the conclusion of this form (on the confirmation page) so your information will automatically be entered into the NY State system 

If you miss the TAP link from the FAFSA confirmation page, you will need to wait 3 days to receive an email invitation allowing you to enter your information into TAP web site- Click here to set up your user name and password. 

Important:  Your FAFSA Student Aid Report (SAR) will be emailed to you, usually arriving 3-5 days after submission.  YOU MUST BE SURE TO ADD:  FederalStudentAidFAFSA@cpsemail.ed.gov to your email address book or safe list to ensure that your Internet Service Provider does not treat this important correspondence as spam

Step 7:  Carefully review your Student Aid Report (SAR) which will be sent to your email account if you filed electronically and make corrections if necessary by re-entering the FAFSA site

Step 8:  If your college requests additional financial documents (e.g., a copy of your tax return), provide the requested information as soon as possible

Step 9:  Receive your financial aid award letter from each college to which you have been accepted.

Step 10:  Compare offers and contact your financial aid office directly with all questions you have.

Step 9:  Make your final decision about the college you plan to attend by May 1, as this is when a hefty (usually $500) housing deposit is required to guarantee your slot in the Fall, 2012 incoming freshman class.

Additional Web Sites for Information about Financial Aid

Current Top 18 FAQ's relating to the FAFSA	From Student Aid on the Web
2012-2013 PDF FAFSA	Note:  Preferred method is to submit this form electronically, but this is a print copy for those who cannot file electronically
Student Aid on the Web	The official home page for the federal student aid programs administered by the US Department of Education.
FinAid	Financial Aid resources
2012-2013 EFC Formula Calculation	DETAILED Document which explains the specific formula used to calculate the estimated family contribution
Completing the FAFSA 2012-2013	DETAILED Document which explains step-by-step how to complete this year's FAFSA as well as explanations regarding the purpose of the specific FAFSA questions
StartHereGetThere.org (currently, some of the links are open, the system is scheduled to be fully operational from 1/25/12 - 2/25/12)	New web site launched by HESC which provides all of the information needed to complete the FAFSA and will feature: FAFSA Tutorials, Tips & Tools SFAAM Calendar Student Profiles Informative e-Library Articles
Financial Aid Award Letter Comparison Tool	This tool from FinAid.org allows you to compare and contract financial aid award packages by highlighting the differences in the costs of attending each school
FAFSA4Caster	To be used by families prior to the time when their  student is ready to file their actual financial aid application (Janurary of senior year).  Gives families an initial estimate of the amount of aid for which they may be eligible.
	New York State Higher Education Services Corporation.  This is where TAP applications are filed
NYHELPS	New loan program launched by NYS in 2011 to help families cover the gap in paying for higher education
US Department of Veteran's Affairs Transfer of Post-9/11 GI Bill Benefits to Dependents	Information about the Post-911 GI Bill benefits transfer
US Department of Veteran's Affairs Yellow Ribbon GI Educational Enhancement Program	Under an agreement w/ the US Department of Veteran's Affairs, the Yellow Ribbon Program allows private institutions to voluntarily contribute towards tuition and fee expenses for eligible students.  This link provides additional information about the program as well as lists of participating institutions

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