Options for going back to school

The FAFSA opens the door to grants and scholarships that do not have to be repaid, as well as to low-interest student loans that are not necessarily income based. And remember, you do not have to accept the aid or loans you are offered.

The FAFSA process can seem intimidating, but it’s actually quite simple!

Here are the basic FAFSA steps:

1. Start by creating a FSA ID. Your FSA ID is the username and password you will use you to access your financial aid information and electronically sign your documents. This is a new login requirement as of May 2015.
2. Start the FAFSA
3. Fill in your general demographic info.
4. List which schools you want your financial info sent to. (Feel free to list several! They will not hold you to it.)
5. Answer a series of basic questions to determine whether you’re considered “independent” (by their standards, not yours) or will need to include your parents’ data.
6. This is where you will enter your financial info! Here’s what you’ll need:

• Your most recent federal income tax returns, W-2s, and other records of money earned. (You may be able to easily import your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.)
• Bank statements and records of investments
• Records of untaxed income