Financial Aid Application

The FAFSA application is used to collect the information needed to calculate your financial aid eligibility. The results of the FAFSA are needed for all federal and state financial aid funding (including grants and loans).  Most institutional scholarships also require the FAFSA to be completed.

• The FAFSA is streamlined and more user-friendly with fewer questions.
• IRS Direct Data Exchange (DDX) makes entering federal tax information easier.
• A student’s family size has changed to align with the number of individuals reported as dependents on the student’s/parent’s U.S. tax return. Applicants may update family size if it changes after filing the tax return.
• The number of family members in college will no longer factor into the FAFSA calculation.
• For divorced or separated parents, the parent who provided the most financial support to the student will need to provide their information. Previously, the parent who the student lived with the most provided their information.
• The net worth of a business is no longer limited to those with more than 100 full-time employees.  Applicants will be asked to report the net worth of all businesses, regardless of the size of business.  
• Child support received will be reported as an asset on the FAFSA instead of as untaxed income.

• Contributor: Anyone who is asked to provide information on the FAFSA – Student, Student’s Spouse, Parent(s), and Step-parent(s).
• Consent: Required from all contributors in order for the IRS to share tax data directly to the FAFSA. If any contributor refuses, the student will not be eligible for financial aid.
• Direct Data Exchange (DDX):  Replaces the Data Retrieval Tool (DRT) as the method contributors authorize to transfer tax information directly from the Internal Revenue Service (IRS) after giving their consent.
• FAFSA Submission Summary (FSS): Replaces the Student Aid report (SAR) and is a summary of the applicant’s completed FAFSA information.
• Student Aid Index (SAI): Replaces the Expected Family Contribution (EFC) and is the value calculated by FAFSA data and will determine student aid eligibility.

1. Create a FSA ID: An FSA ID consists of an account username and password that is created in order to access the U.S. Department of Education online systems. It serves as your legal signature when completing the FAFSA or other electronic documents. Every contributor (student, spouse, parent and/or parent spouse) who’s required to provide information on the FAFSA form, needs to create their own FSA ID to access and complete their portion of the FAFSA form. Go to studentaid.gov to create your FSA ID. 
2. Complete the FAFSA Form:  The Free application for Federal Student Aid (FAFSA) can be completed online at fafsa.gov. Students and any additional contributors must provide consent and approval to have the IRS transfer your federal tax information into the FAFSA form in order to be eligible for federal student aid. List Baker College school code (004673) as the first school choice to be considered for state aid at Baker College. 
3. Review your FAFSA Submission Summary: After your FAFSA form is submitted, you’ll receive an email from Federal Student Aid with instructions on how to access your FAFSA Submission Summary. This summary will include the answers you listed on the FAFSA application, include your Student Aid Index (SAI), and provide you an estimate of the amount of federal student aid that you may be eligible for. Review your FAFSA Submission Summary for accuracy and make any necessary corrections to your FAFSA online at fafsa.gov.  Details about how to make corrections are available on studentaid.gov. 
4. Complete Additional Requirements: After your FAFSA is completed, some students may be selected for verification by the U.S. Department of Education. Verification is a standard procedure to ensure the accuracy of the information provided on the FAFSA form. If your application is selected for verification, you will receive an email communication form the financial aid office requesting additional documentation to be submitted through your financial aid portal. 
5. Review Financial Aid Offer: Once your financial aid file is complete, the financial aid office will send you a financial aid offer (via email) which can be viewed in your financial aid portal. Your offer may include grants, scholarships, work-study and student loan options. New students will also receive their financial aid offer in the mail.
6. Accept Financial Aid Offer: Grants and scholarships offered should not require any additional action on your part. Students will need to Accept, Decline or Request a Reduction on Federal Student Loans that are offered. 
7. Renew your FAFSA Annually: The FAFSA must be renewed each year in order to continue to receive financial aid. The application for the next academic year is typically available on October 1st and should be completed by the state of Michigan priority date of May 1st to possibly qualify for state aid.