1 / 10

The Solution Center

Learn how to apply for financial aid at UMass Lowell, including required forms, deadlines, and the FAFSA application process. Get valuable information and tips from TSC staff.

gmichael
Download Presentation

The Solution Center

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Solution Center The Financial Aid Application Process

  2. Objective What you will you learn? • TSC staff will be able to inform students how to apply for financial aid at UMass Lowell • Know which forms are required • Know when & how to complete required forms

  3. The FAFSA • UMass Lowell requires the Free Application For Federal Student Aid (FAFSA) which may be completed online at www.fafsa.gov • Note: Other institutions may require the CSS Profile and/or an Institutional application YouTube Video by the US Department of Education: FAFSA: How to Fill out the FAFSA

  4. The Federal PIN • The student and parent must obtain a federal PIN before completing the FAFSA • www.pin.ed.gov • The federal PIN is used to electronically sign: • FAFSA • Student/parent loan promissory notes, and • Access federal loan data • The federal PIN is a number that stays with a student/parent forever

  5. What is Asked on the FAFSA • Bio demo data • Household size • Prior year tax information • Various asset information The FAFSA Requests :

  6. Dependency Status Dependent or Independent • Generally the student is dependent until the age of 24 unless they: • Are married • Have dependents which they provide more than 50% of their support • Are a veteran • Are a graduate student • Are a ward of the court • Under legal guardianship • YouTube Video by the US Department of Education: • FAFSA:Determining Your Dependency Status

  7. IRS Data Retrieval • The IRS Data Retrieval Tool (DRT) allows applicants to prefill the federal tax information on the FAFSA by transferring data from their federal income tax returns • DRT saves the family time in completing the FAFSA, and may also reduce the likelihood that the FAFSA will be selected for verification • REF: FA_17_Verification_Process_and_Requirements

  8. Who CAN use the Data Retrieval Tool • Applicant must have a valid Social Security Number and FAFSA PIN to use the IRS Data Retrieval Tool (DRT) • Applicant will need to authenticate him/herself to the IRS in order to use the IRS Data Retrieval Tool • Students and parents must use the tool separately for their respective income tax returns

  9. Who CANNOT use the Data Retrieval Tool • Independent applicant who is married and files separately • Dependent applicant's parents are married and file separately • (i.e., married filing separately or head of household) • Change in the marital status of the applicant or parent (if the applicant is a dependent student) after the end of the tax year • Student/parent filed amended tax return • Student/parent filed foreign income tax return • Taxpayers who file with Tax ID Number and not SSN • Home address on FAFSA does not match tax return

  10. Deadlines • UML priority deadline is March 1st • Note: Those who have not completed taxes are encouraged to still complete FAFSA with estimated tax information to meet the priority deadline. Student/parent may log back into application and make necessary corrections once taxes are filed

More Related