You can use your PIN to:

§ access your SFA Program assistance records online. For example, you can check your student loan information through the Department of Education's National Student Loan Data System (NSLDS).

§ make corrections to your application information through the Internet.

§ access your Renewal FAFSA in subsequent years.

§ "sign" (electronically) your FAFSA on the Web in subsequent years, if you choose to use this method.

When you receive your SAR, you must review it carefully to make sure it's correct and complete.

If any changes to your SAR are necessary, you can make corrections in a number of ways.

You can make corrections online through the Department of Education's FAFSA on the Web site, even if you didn't apply using FAFSA on the Web.

Alternatively, your school may be able to submit the corrections electronically.

If you applied by mail, by using FAFSA Express, or by using FAFSA on the Web, you can make corrections on Part 2 of the SAR and return it to the address given at the end of Part 2. If you don't have a copy of your SAR, you can request a duplicate from the Federal Student Aid Information Center. (If you write, make sure you include in your letter your full name, permanent address, Social Security Number, date of birth, and signature. Your duplicate SAR will be sent to the address you reported on your application.)

If you want to have your application information sent to a school that is not listed on your SAR, you may:

§ contact the Federal Student Aid Information Center, to have your information sent to the school,

§ give the school permission to request your information, or

§ correct your SAR to add the school.

If you ask the Federal Student Aid Information Center to send your information or give permission to the school to request the information, you'll need to provide your Data Release Number (DRN), which you can find in the upper right portion of your SAR.

If your address changes after you receive your SAR, you should correct your address as soon as possible. You can do this online at the FAFSA on the Web site, or by contacting the Federal Student Aid Information Center at the address or toll-free number given (you'll need to provide your DRN), or by correcting the SAR and mailing it to the address listed on the SAR.

Special Circumtances

Although the process of determining a student's eligibility for federal student aid is basically the same for all applicants, there is some flexibility.

In some cases, your financial aid administrator may adjust your cost of attendance or the information used to calculate your Expected Family Contribution (EFC) to take into account circumstances that might affect the amount you and your family is expected to contribute toward your education. These circumstances could include a family's unusual medical expenses or tuition expenses. Also, an adjustment may be made if you, your spouse, or either of your parents (if applicable) have been recently unemployed. If conditions such as these apply to you or your family, contact your school's financial aid administrator.

Check with your financial aid administrator if you feel you have any other special circumstances that might affect your dependency status or the amount you and your family are expected to contribute. But remember, there have to be very good reasons for the financial aid administrator to make any adjustments, and you'll have to provide adequate proof to support those adjustments. Also, remember that the financial aid administrator's decision is final and cannot be appealed to the U.S. Department of Education.


Expected Family Contribution (EFC) -- What You And Your Parents Are Expected To Contribute

The information you provide on your FAFSA is used to estimate your expected family contribution, or EFC--the amount of money you and your parents could reasonably contribute toward your education. Keep in mind that your calculated EFC may not be what you and your family end up paying. This is because your college's student budget contains reasonable expenses, not your actual ones. Also, not all colleges will be able to meet 100% of your financial need.

For dependent students, the following are considered in calculating your EFC:

• your own income and your parents' income
• your and your parents' assets, including savings, stocks and bonds, real estate investments, farm or business ownership, and trusts (equity in a family's primary residence or family farm, retirement funds, and prepaid tuition plans are not included)
• your parents' age and need for retirement income
• number of children and other dependents in the family household

• number of children in college

 http://www.finaid.org/calculators/finaidestimate.phtml

For college costs and more on over 9,000 colleges and career schools, see the U.S. Department of Education's Web site at www.nces.ed.gov/ipeds/cool.

Student Budget 

Your student budget, or cost of attendance, includes tuition, fees, books, supplies, housing, food, transportation, and personal expenses for the academic year, as calculated by the school. It may also include an allowance for the purchase or rental of a computer. Your student budget will vary depending on where you live (with your parents, on or off campus) and the college you attend. If you have small children who need care while you attend college, the final calculation may take childcare expenses into account. If you have a disability, let your college know if you have any special expenses that aren't covered by an agency or insurance. 

Your Financial Aid Eligibility - Financial Need

Once your expected family contribution and student budget have been established, your college can determine your eligibility for financial aid, also known as your financial need. You become eligible for need-based financial aid when your-and your family's-ability to pay is less than the costs at the college you plan to attend. Your financial aid administrator will subtract your EFC from your student budget (or cost of attendance)-the difference is your financial need.

Financial Aid Package

Once your college's financial aid administrator determines your financial need, he or she will put together your financial aid package, taking into consideration any other aid you may receive, including Pell Grants and private scholarships. Your financial aid package may include grants, scholarships, work-study, loans, tuition discounts, fee waivers, or other types of assistance. The aid may be need-based, non-need-based, or a combination of the two. You'll usually receive an award letter in the spring containing a list of the types and amounts of financial aid, a deadline for responding to the letter, and more. When you apply to more than one college, your financial aid offers often will vary. Each college may not be able to meet 100% of your financial aid need with student aid. Be sure you understand each offer before accepting it. Contact your financial aid office with any questions. 

Evaluating Your Financial Aid Offers

You should begin to receive financial aid offers in the spring. Each award letter will include a deadline for accepting the financial aid package. If you're considering more than one college, you may want to wait until you've heard from each school before making a decision.
Evaluate each offer carefully. Do a side-by-side comparison to determine what it will cost you to attend the school. Your family's out-of-pocket costs will differ from college to college because both student budgets and financial aid offers vary. 

When comparing offers, consider the following:

§ What is your total student budget and how much are you and your family expected to pay?

§ How much grant and scholarship aid is offered? Are they renewable? What are the terms and conditions? (For example, some schools require scholarship recipients to maintain a certain grade point average.)

§ If your total financial need cannot be met by grants or scholarships, can you earn the extra money by taking on a part-time job, or do you need to borrow?

§ How much loan aid is offered? What are the terms and conditions? Remember student loans must be repaid, with interest.

Keep in mind you don't have to accept your entire student aid package. If you don't accept the loan portion, the financial aid office usually won't be able to increase any grant funds.

Remember, only borrow after you have explored all other sources and only borrow what you absolutely need. The idea is to borrow less so you will have more in the future. Let your financial aid administrator know if your resources or expenses change, both before and during the school year. Be sure to sign and return all forms. if required, indicate whether you're accepting or declining an award. Contact your financial aid administrator if you have questions.

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