CRC Connection: FAFSA Edition

When: Tuesday, October 11 at 6:30 PM

Where: Zoom

Paying for college is every family's priority and concern. We are once again offering this program for students from LHS, VHHS, and Carmel Catholic High Schools. Our speaker, Jerry Cebrzynski, has worked in financial aid for over 20 years and is one of the best speakers on the subject out there.

When: Tuesday, October 25

Where: VHHS Library

Representatives from the Illinois Student Assistance Commission (ISAC) will be on hand to assist families with submitting their FAFSAs online. Sign up here for either the 6:00 p.m. or 7:00 p.m. session if you feel it would be beneficial. There will be a Spanish-speaking ISAC representative at this event.

October 1 is coming up shortly, and the new Free Application for Federal Student Aid, or FAFSA, opens that day at https://fafsa.ed.gov/. U.S. citizens or eligible noncitizens can complete the Free Application for Federal Student Aid (FAFSA) to be considered for financial aid from the federal government, state governments and many colleges.

The Retention of Illinois Students & Equity (RISE) Act allows eligible undocumented students and transgender students who are disqualified from federal financial aid to apply for all forms of state financial aid using the Alternative Application for Illinois Financial Aid.

We highly recommend that Class of 2023 families complete the FAFSA or the Alternative Application for Illinois Financial Aid (for undocumented or transgender students). Even if families think they won’t qualify for aid, completing the FAFSA may result in financial options such as loans or on-campus jobs. Some colleges also need families to complete the FAFSA in order for students to receive merit aid. Families with current college students should complete the FAFSA at this time, as well.

The State of Illinois has made completing the FAFSA a graduation requirement, but there will be an option to sign an opt-out form for families who choose not to complete a FAFSA (more information about the opt-out form will come later).

We recommend families complete the FAFSA sometime in October or November, especially those whose senior is considering colleges located in Illinois. The Illinois MAP (Monetary Assistance Program) Grant is awarded to families with financial need on a first-come, first-served basis, and we want our families to be in the running.

Some families may also need to complete the CSS Profile, an additional financial form required by many selective colleges. This form also becomes available on October 1. Click here to see the schools that require the CSS Profile.

The State of Illinois has made completing the FAFSA a graduation requirement, but families who choose not to complete a FAFSA can complete this opt-out form which also meets the graduaton requirement.

1. Create an FSA ID. Students and parents should each create an FSA ID, made up of a username and password, to submit their Free Application for Federal Student Aid (FAFSA®) online and to access U.S. Department of Education websites. Your FSA ID is used to confirm your identity and electronically sign your federal student aid documents.

• Save your student and parent usernames and passwords, and make sure both parties have access to them.
• Students should use a personal email, rather than their VHHS email, when creating their FSA ID and FAFSA login. VHHS emails will no longer exist next year when students need to access their FAFSA.

2. Gather the following to complete the FAFSA:

• Social Security Number for student AND parent (or Alien Registration Number, if the student is not a U.S. citizen)
• Parent and Student 2020 federal tax returns, W-2's, and other records of income. If you filed your taxes electronically, you may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.
• Banking statements, records of investments, and records of untaxed income (if applicable)
• List of colleges the student plans to apply to (This can be updated at a later time, if necessary)

4. Review your Student Aid Report. After you apply, you’ll receive a Student Aid Report, or SAR. Your SAR contains the information reported on your FAFSA and includes your Expected Family Contribution (EFC). The EFC is a number used to determine your eligibility for federal student aid. Review your SAR information to make sure it’s correct. The school(s) you list on your FAFSA will get your SAR data electronically.

5. Colleges typically send out financial aid awards (sometimes called financial aid packages) in late February/early March. Seniors who are applying Early Decision may receive an earlier award.

We aren’t sure if we will qualify for financial aid. Should we still complete the FAFSA?

• There is no income cutoff that would indicate whether a family should complete the FAFSA or not, but if you’re unsure, we recommend you complete the Net Price Calculators found on every college’s website to see if you are eligible for need-based financial aid. At a minimum, families that submit a FAFSA will be offered the option to take a federal student loan, and many colleges require the FAFSA from students who are offered a merit-based scholarship.

What about the CSS Profile? Do we need to complete that form as well?

• Many selective colleges that are popular with VHHS seniors DO require the CSS Profile. Check this list to see if any of your colleges are listed. Be aware that this form asks for more information than the FAFSA, and includes a $25 fee to submit to each college. Families whose adjusted gross income is $100,000 or less can qualify for a fee waiver on the form.

Is there a deadline to complete the FAFSA?

• There is no deadline to complete the FAFSA, but we recommend that our families do so by Thanksgiving, to ensure you are in the best position for financial awards.

How many colleges can I send my FAFSA results to?

• You can list up to 10 colleges on the FAFSA at one time. If you want to add more colleges after you’ve received your Student Aid Report, you may delete the old ones and add more, then resubmit. More info here.

Who completes the FAFSA when parents are divorced or separated?

• The custodial parent completes the FAFSA. If a senior splits time between two parents, it is whoever the student spends the most time with. More info here.

Head to Mrs. Bellito's YouTube channel and watch helpful videos full of tips and tricks for applying and winning scholarships.

Check out and follow our @vhhs_crc Instagram account for updates, fun puzzles, and important information!

The LHS and VHHS CRC offices are pooling resources to give you a robust listing of jobs, internships and volunteer opportunities in our area. Check back often as we update the list regularly.