FAFSA Graduate School

To qualify for federal student aid that may include grants, work-study, or loans, an applicant must meet some basic eligibility criteria. To fulfill these criteria, the student must:

• be a U.S. citizen or eligible non-citizen;
• have a valid Social Security Number;
• demonstrate financial need;
• be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
• be registered with Selective Service, if the applicant is a male (registration should be done between the ages of 18 and 25);
• be enrolled at least half-time to be eligible for Direct-Loan Program funds;
• sign all certification statements on the FAFSA form;
• show that the student is qualified to obtain a college or career school education based on certain criteria.

Additional eligibility criteria may apply to non-citizens and students who fall outside of the ‘general’ category.

In addition to U.S. Citizens who are eligible to apply for financial aid, the following types of applicants may also apply but will have to fulfill additional criteria to do so:

• Students with a parent who was killed in Iraq or Afghanistan
• Non-U.S. citizens
• Students with criminal convictions
• Students with intellectual disabilities
• Homeless Students
• Students who are or have been in foster care

For specific or more information, visit the Eligibility Requirements page of studentaid.gov to understand each type of application and associated eligibility criteria.

One of the most common queries students have is “how much does FAFSA cover graduate school?”.

Suppose the student applying for FAFSA has first of all met all basic eligibility criteria, in that case, the application is processed by the financial aid office at the applicant’s college or career school. It is this office that will determine how much aid the student is eligible to receive, generally based on:

1. Expected Family Contribution (EFC).
2. Year in school.
3. Enrollment status (full-time or part-time).
4. Cost of Attendance (COA) at the school applied for.
5. Any need-based aid.
6. Any non-need-based aid.

Students who wish to apply for financial aid to help pay for college must complete and submit the Free Application for Student Aid (FAFSA) form. This form is available online at studentaid.gov and must be filled up on the same portal. Alternatively, a printed form is also available and can usually be picked up from a FAFSA graduate school’s financial aid office or downloaded from studentaid.gov (for the school year 2021-2022). If one gathers all the required information well before one starts the application process, it will be easier to complete the FAFSA form in no time. To fill it out completely, here are a few things that are needed:

1. An FSA ID
2. Social Security Number
3. Alien Registration Number (for non-U.S. citizens) 3DDriver’s License Number (optional)
4. Previous Year’s Tax Records
5. Records of Untaxed Income
6. Records of Assets (Money)
7. List of Schools (Interested in Attending)
8. A personal e-mail Address For dependent students:
9. Social Security Number of Parents
10. Income & Financial Records of Parents

Note: The FAFSA form for 2020-2021 has been available since October 1, 2019. Depending on the state of legal residence, the submission deadline varies, but for students of most states, the submission deadline is June 30, 2023. It is advisable to apply early as many awards are given on a first-come, first-serve basis.

Once the required information is made available and ready, the application in itself is pretty much straightforward, broken down into a few steps/sections:

1. Step 1. Student Information: Personal & Education
   This section is where the applicant needs to fill in details such as name, date of birth, social security number, e-mail address, etc. Having an FSA ID will prepopulate much of this information, saving time and effort. In addition to this information, some basic education-related information is sought, such as current study, grade level, graduation, etc.
   
2. Step 2. Student Information: Finance & Marital Status
   Carrying on with this section could be made easy by using the IRS Data Retrieval Tool, accessed through the ‘Link to IRS’ button. Doing so can populate much of the information asked for, but for those who may be ineligible to transfer tax information from the IRS, there is always the option of filling up the form manually. This section also deals with the student’s marital status, and one should truthfully choose from never married, separated, divorced, widowed, or not married and provide relevant details as well.
   
3. Step 3. Student Information: Dependency Status
   The dependency status seeks to establish whether the applicant is an ‘independent’ student or needs to submit their parents’ tax information. Most of the questions here require a simple “yes” or “no” answer, but one must be careful to read the question properly and answer without a doubt.
   
4. Step 4. Parent Information: Demographics of Parents
   Based on the answers provided in Step 3, the student needs to either fill in the information asked for in Step 4 or skip it and move on to Step 5. If the answer to every question in Step 3 is “no”, then Step 4 is required to be filled. On the other hand, if the answer to any question in Step 3 is “yes”, then Step 4 may be skipped entirely. Either way, this section deals with information of the parents, much like how Step 1 deals with that of Students.
   
5. Step 5. Student Information: Dependency Status (Additional)
   Students should complete this section only if they answered “yes” to any question in Step 3. There are only a few questions in this section that are in line with those asked in Step 3.
   
6. Step 6. Student Information: Selection of School
   Regardless of whether the student has applied to a College or not, they are at liberty to choose up to 10 Colleges at a time (maximum of 4 in case of a paper FAFSA form) without having to worry about applying to them or being accepted by any of them. Data of Colleges that the student will ultimately end up not attending will be securely discarded. Furthermore, no College can see the list of choices, so it wise to select as many as possible at this stage. There is a handy search tool that makes this step easy, provided, of course, the applicant knows at least the state where the college is located and either the city or name of the College.
   
7. Step 7. Student & Parent: Signing & Submitting the FAFSA Form
   Independent students can sign and submit the FAFSA form independently, without parents having to do so. However, those who qualify as dependent students need their parents to sign the form as well. If such is the case, both parents (1 and 2) will also have FSA IDs and enter them before submitting the form.
   

Once the form is submitted, FAFSA will start processing it, and the applicant can monitor its progress by logging into studentaid.gov with their FSA ID. Schools selected by the applicant will automatically receive information from FAFSA, and if selected for admission, will tailor a financial aid package for the applicant.

Important: FAFSA application must be done every year, not only at the time of seeking admission.

While the FAFSA Graduate School form is quite simple, there is always a chance of overlooking important and complicated things in the bargain. There are thousands of FAFSA applications made each year, and it is essential to keep the finger on the ball, focus, and assiduously enter information on the FAFSA form. These few tips should help in staying on top:

1. Apply Early
   The FAFSA form for the following academic year is usually October 1. Applying early is prudent because many of the awarded grants are done on a first-come, first-serve basis and will, therefore, better the chances of receiving aid.
2. Do Not Skip Steps
   Try answering all questions asked in the FAFSA form and avoid skipping or missing anything. If there is some question to which you do not have the answer or does not apply to you, enter a “0” or “not applicable”, instead of leaving a blank. Leaving too many blanks will increase the risk of the FAFSA form being rejected altogether!
3. Check the Figures
   Check and double-check the figures that are keyed in, especially dates and amounts. Avoid decimalization of numbers, preferably rounding them up to the nearest dollar. Skipping commas in numerals will ensure that figures are accurate and not off the mark.
4. Do Not Hide Information
   Never hide information that is available but is thought best not divulge. Erroneous or false information, or for that matter, non-disclosure, can seriously jeopardize the FAFSA application and chances of receiving any aid at all.
5. Provide the Right Marital Information
   If the applicant is planning to get married shortly but is single at the time of applying for FAFSA, the marital status is deemed to be ‘Single’ or ‘Never Married’. Details of the stepparent must be included if a custodial parent is remarried, and in cases where parents may be no longer married but living together, information of both parents must be divulged. Providing the right marital information is an important deciding factor for granting aid and should not be taken lightly or ignored.
6. Review before Submitting
   It is very easy to make silly mistakes that may have far-reaching consequences. Before continuing to the next section or submitting the form, one should always check the information entered and verify its accuracy and authenticity. After all, one incorrect or erroneous entry can diminish or entirely wipe away any chances of receiving financial assistance.

Completing and submitting the FAFSA Graduate School form is only the beginning. There are a few more steps to take before a student receives the aid in their hands.

1. Keep a Check
   Once the FAFSA form has been submitted, it typically takes 3 to 5 days for the application to be processed. During this time, the student can log in to student.gov with their FSA ID and monitor their application’s progress. When the form is successfully processed, the student will receive a SAR or Student Aid Report, which summarizes the information provided on the FAFSA form. If there are errors on this report, the student should complete or correct the form without delay.
2. Peruse & Compare Aid Offers
   Students who have applied to several Colleges may receive aid offers (also known as award letters) detailing what financial aid is being offered. In such a situation, one must always compare all aid offers and calculate to see which one is more feasible and/or suitable and make an informed decision, only after exploring all avenues of aid, including Scholarships and Grants, Work-Study, Federal Student Loans, State or College Loans, and Private Loans.
3. Reply to Aid Offers
   Following the decision on which financial aid to accept, the student must inform the college of such acceptance either digitally (website/e-mail) or via regular mail. The aid letter should contain instructions on how to accept or reject an offer.
4. Sign Loan Agreement
   Along with the aid acceptance letter or form, or as a separate arrangement, the student will have to sign an agreement in the form of a Master Promissory Note or MPN. Each loan type will require its own MPN. Again, guidelines and instructions should be available in the aid letter the student would have received.
5. Complete Entrance Counseling
   Completing the Entrance Counseling is mandatory as the record of completion will be sent to the selected college, only after which the student will receive the loan money. The Entrance Counseling addresses frequently asked questions such as ‘what a loan is’, ‘how interest is calculated’, ‘what options are available for repayment’, and ‘how to avoid delinquency and default’. Additionally, this session ensures that the student understands the terms and conditions of the loan, as well as their rights and responsibilities connected with the loan.

Seeking financial aid can be a tricky business. There are more than a few options to explore and hundreds of sites that claim to offer scholarships and awards, most of which eventually turn out to be fake. Here are some genuinely good resources for students to use and find information on a FAFSA Graduate School, as well as other funding options for graduate studies:

1. FAFSA
   One of the obvious and natural choices to obtain exact and up-to-date information on FAFSA is the official FAFSA website itself. The portal covers all topics relevant to financial aid and assistance and is where the FAFSA form must be filled, completed, and submitted.
2. PHeaa
   Perhaps the most in-depth resource for students applying for financial aid via FAFSA is ‘PHeaa’. The site has detailed information on almost everything related to FAFSA and also offers an excellent toolkit that could be of immense help to students.
   
   There are a few other resources to consider if one must look beyond FAFSA. After all, there are other ways and means of securing scholarships, grants, and loans, and some of the sites listed below will enable you to explore multiple options of funding:
3. OMC – Online Masters Colleges
   Our site – Online Masters Colleges – is a wealth of information for Scholarships and, in fact, offers our very own OMC Scholarships. Women seeking financial aid should read about Scholarships for Women, and there is in-depth information and analysis on African American Scholarships and Scholarships for Disabled Students.
   
   Students applying for any form of financial aid should also be aware of Scholarship Scams that have cast wide nets and cheated hundreds of students while robbing them of their dreams.
4. Financial Aid Appeal Guide
   Students can also find information about what can be done if their FAFSA is denied or receive less or other correction.
5. Unigo
   Unigo has an extensive list of scholarships listed on their site, complete with details, grant amounts, timelines, and application requirements.
6. Fastweb
   Fastweb helps students with not only scholarships but also internships, loans, part-time jobs, and more. There are also interesting articles on a variety of topics that one could read.
7. Sallie Mae
   Sallie Mae largely deals with money matters for students. It lists out information from private student loans to credit cards and savings while also highlighting scholarships and loan repayment options.
8. Scholarships.com
   Scholarships.com is, to put it short and sweet, a scholarship directory that any student seeking financial assistance should go through. Students can search and explore scholarships available across the United States and even apply for some of them directly on the portal.