FAFSA - Free Application for Federal Student Aid
The St. Olaf FAFSA code is:002382
- What is the FAFSA?
- Where do I get a copy of the FAFSA?
- How do I complete the FAFSA?
- When should I complete the FAFSA?
- Important things to remember
What is the FAFSA?
The FAFSA is a free application process used by schools, states, and the federal government to determine financial need. You MUST complete the application process every year you attend St. Olaf if you plan on receiving any type of financial aid. Completing this form is the first step in the student financial aid process. The entire application process, from start to finish, takes approximately three weeks.
The information you report on your FAFSA is used to calculate an Expected Family Contribution (EFC) according to a formula set by Congress. See Need Based Financial Aid for details.
St. Olaf uses your EFC to determine what federal, state, and institutional aid you are eligible to receive.
Where do I get a copy of the FAFSA?
You may choose any of these three methods to file your FAFSA:
A copy of the paper FAFSA may also be available at your high school guidance office or local public library.
After you complete and submit your FAFSA, the government will compile
your Student Aid Report (SAR). The SAR gives the Office of Financial
Aid the information it needs to complete an award package including
your EFC. A copy will then be mailed to you and each school that
you chose to have it sent. When you receive your copy of the SAR,
take a few minutes to look it over to assure the information is
correct and the Federal Processor has not asked you to send in a
signature.
Remember, to qualify for St. Olaf Financial Aid incoming students
must complete the CSS
Profile. Returning students must fill out a St. Olaf Application
for Financial Aid. Contact the St. Olaf Office of Financial Aid
to request a St. Olaf Application for Financial Aid form.
How do I complete the FAFSA?
While the FAFSA is not a difficult application to complete, it does take some time and effort. It will be beneficial for you and your parents to complete your tax returns as early as possible as much of the information on the FAFSA will come from these returns. St. Olaf verifies 100% of all FAFSA information, so it is very important to use current and correct information on your application to speed up the application process.
You and/or your parents will need these documents to complete the FAFSA:
- Tax returns
- W2s
- Records of untaxed income
- Current bank statements
- Current mortgage information
- Business and farm records
- Records of stocks, bonds, and other investments
- Social Security benefits and retirement plan information
Along with biographical, financial and personal information, you must indicate you want St. Olaf to receive your FAFSA in order for the school to receive your results.
St. Olaf's FAFSA code is: 002382
If you have specific questions on completing your FAFSA use the FAFSA on the Web website maintained by the US Department of Education. It contains all the information you will need to successfully complete your FAFSA.
When should I complete the FAFSA?
You can complete the FAFSA beginning January 1 of each year. Deadlines for the FAFSA are as follows:
- Early Decision 1: March 1
- Early Decision 2: March 1
- Regular: March 1
- Returning Students: April 15
Remember, it can take several weeks for the FAFSA to be processed. Plan ahead!
Important things to remember about the FAFSA:
- The FAFSA is free!
- You are required to complete the FAFSA EACH YEAR you attend St. Olaf.
- You may send in your FAFSA beginning January 1 of each year.
- Priority deadline for all St. Olaf Financial Aid material is March 1 (for incoming first year students) and April 15 (for returning students) of each year.
- The entire (online) FAFSA application process takes approximately 2-3 weeks from beginning to end.
- St. Olaf's FAFSA code is: 002382
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