To help with the high cost of attending college in the US, students can complete the Free Application for Federal Student Aid (FAFSA) to determine their Expected Family Contribution (EFC) and receive financial aid packages from individual schools. Verification of financial aid status can be done online, over the phone, or in person at the school’s financial aid office. Additional supporting documents may be required by individual schools.
College can be a tremendous financial burden for families or individuals trying to afford the high cost of attending an institution of higher learning. In the United States, there are several financial aid programs at the federal and state levels that provide assistance to a student to help defray the cost of participation. To verify a student’s financial aid status, he or she must first complete the Free Application for Federal Student Aid (FAFSA) and submit all necessary documentation to the school he or she plans to attend. After the FAFSA is processed, the student can verify their financial aid status online, over the phone, or in person at the school’s financial aid office where they indicated they will apply on the forms.
In the United States, all financial aid funded by the federal government and most states is determined based on the completion of the FAFSA. The FAFSA determines what is known as an “Expected Family Contribution” (EFC). The CEF is what the student, or his family if considered a dependent student, is expected to contribute to the cost of attending a higher education institution. Once the EFC is calculated, individual schools can put together a financial aid package for the student, which may include student or parent loans or grants, grants or participation in the work study program.
Completion of the FAFSA can be completed online or by requesting a paper copy of the application. Once received, the FAFSA is processed quickly – usually within a week. A student can verify their financial aid status, as it applies to the EFC, after the FAFSA has been processed online through the FAFSA website.
Individual schools may require additional supporting documents upon receipt of FAFSA results to package a student’s financial aid. Additional documents may include copies of the student’s and/or parent’s tax return, proof of residency, and an independent student worksheet, among others. Upon submission of all required documents, the school will process the student’s financial aid package.
Typically, a student can verify their financial aid status online once processed, although individual school procedures may vary. A student should simply be able to log into their school account and locate the financial aid section of the website. From there, the student can enter their school identification number or social security number and view their financial aid status. If the school does not offer an online option, a phone call or visit to the school’s financial aid office should be able to determine the student’s financial aid status.
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