FAFSA FAQ

Dependency Status
When you complete your FAFSA you will be asked a series of questions to determine your dependency status. You can find these questions here.

FSA ID
The FSA ID replaces the PIN and will be used to access Federal Student Aid content like the FAFSA and www.studentloans.gov. If you are a student who is applying for federal student aid, have existing student loans, or are a parent of a dependent student you will need to create an FSA ID. The FSA ID serves as a legal electronic signature and should only be known and used by the person it belongs to. Do not share your FSA ID with anyone. This is in place to keep your information secure.
 
DRT
We recommend that all tax filers use the IRS Data Retrieval Tool (DRT) to provide their tax information. It is the easiest, most accurate way to input tax data. Your tax information should be available to import via DRT 3 weeks after you file electronically or 11 weeks after you file by mail. DRT will not be available under certain circumstances, like if you had to file an amended tax return or if you are married but filed separately. You can manually enter the data from your federal tax return or use estimates in this case or if you will not file before the state deadline. Manually entered data can be updated after you have filed your taxes.
 
Change in marital status/filing status
If you are married but filed taxes separately you will need to combine the amounts from you and your spouse’s tax returns and manually enter them into the FAFSA. Likewise, if you were married and filed jointly but have separated or divorced between filing taxes and filing your FAFSA you will want to separate out your income, tax paid, etc. from your spouse’s and manually enter it into the application. Your financial aid office is available to answer your questions and assist with these processes. 
 
Special Circumstances
If your FAFSA doesn’t accurately reflect your current financial situation you can talk to your Financial Aid Office. They will help evaluate the situation and see if you’re eligible for an adjustment. 
 
Entrance and Exit Counseling
Before you receive federal aid and again before you graduate (or if you drop below half-time attendance), you are required to complete an entrance or exit counseling interview for all educational loans you received during your attendance. You can fulfill these requirements at the convenience of your computer at www.studentloans.gov
 
Master Promissory Note (MPN)
In addition, to completing Entrance counseling to receive your federal loans you will need to complete and sign a Master Promissory Note (MPN). Like Entrance Counseling, this will also be completed at www.studentloans.gov
 
Verification
Verification is a Department of Education mandated review process that determines the accuracy of information provided on the FAFSA. There are several classifications of verification and each class requires its own set of data to be reviewed. During the review process, the student (and parent, if the student is dependent) may be required to provide additional documentation such as tax forms. You will be notified by the financial aid office if you are chosen for verification. Verification forms are available online on our Financial Aid Form section of the website. If you have questions or require assistance you may contact the financial aid office at finaid@saintlukescollege.edu. Failure to submit the required documentation could delay the financial aid process and could ultimately affect the student’s aid eligibility.
 
Financial Aid for Summer
If you have already used annual aid maximums during the Fall and Spring semesters you may not be eligible for aid to cover your summer courses. We advise students to plan ahead and save to cover the expenses.