University.Reviews Team
Frequently Asked Questions
If you have any questions about our rankings? Here are some of the most commonly posed questions.
What is the FAFSA®, and why is it important?
The FAFSA® (Free Application for Federal Student Aid) is a form that determines your eligibility for federal financial aid, including grants, loans, and work-study programs. Completing the FAFSA® is crucial because it’s the first step in securing financial support for your college or career school education. Without submitting the FAFSA®, you could miss out on federal aid, state aid, and even some forms of institutional aid offered by colleges.
When should I complete the FAFSA®?
You should complete the FAFSA® as soon as possible after it becomes available on October 1st each year. Many states and colleges have financial aid deadlines that are much earlier than the federal deadline. Submitting your FAFSA® early increases your chances of receiving aid, as some types of financial assistance are awarded on a first-come, first-served basis.
Do I need to fill out the FAFSA® every year?
Yes, you must fill out the FAFSA® every year you want to receive financial aid. This is because your financial situation, dependency status, and the available aid can change from year to year. Updating your FAFSA® annually ensures that you receive the maximum amount of aid for which you’re eligible.
Who qualifies as a dependent student on the FAFSA®?
A dependent student is typically an undergraduate student under the age of 24 who does not meet any of the criteria for independence, such as being married, having children, or being a veteran. Dependent students are required to include their parents’ financial information on the FAFSA® to determine their eligibility for federal student aid.
Can I still submit the FAFSA® if my parents refuse to provide their information?
If your parents refuse to provide their information, you can still submit the FAFSA®, but it will only qualify you for unsubsidized federal student loans. Without parental information, you won’t be eligible for grants or subsidized loans. In special circumstances, such as cases of parental abuse, you may be able to apply for a dependency override by contacting your school’s financial aid office.
What happens if I make a mistake on my FAFSA®?
If you make a mistake on your FAFSA®, you can correct it by logging into your account on StudentAid.gov and selecting “Make FAFSA® Corrections.” You can update most sections, including your financial information and the list of schools you want to receive your FAFSA® data. It’s important to make corrections as soon as possible to avoid delays in your financial aid processing.
How do I know which year’s tax information to use for the FAFSA®?
The FAFSA® requires tax information from the prior-prior year. For example, for the 2024-2025 school year, you will use your 2022 tax return information. If your financial situation has significantly changed since that tax year, you should still submit the FAFSA® with the required information, but you can then contact your school’s financial aid office to discuss your current circumstances.
What is the IRS Data Retrieval Tool, and should I use it?
The IRS Data Retrieval Tool (DRT) is an option within the FAFSA® that allows you to automatically transfer your tax return information directly from the IRS into your FAFSA® form. Using the DRT is highly recommended because it reduces errors and simplifies the verification process, saving you time and effort.
How do I list more than 10 schools on my FAFSA®?
The online FAFSA® form allows you to list up to 20 schools. If you need to add more than 10 schools initially, you can submit the form with the first 10, wait until the form is processed, and then log back in to remove some schools and add new ones. Schools that have already received your FAFSA® information will retain it, even if you replace them with other institutions.
What is the difference between a grant and a loan?
A grant is a form of financial aid that does not need to be repaid, making it highly desirable. Grants are often based on financial need, such as the Federal Pell Grant. A loan, on the other hand, is borrowed money that must be repaid with interest. Federal student loans typically have lower interest rates and more flexible repayment options compared to private loans.
