Financial Aid Frequently Asked Questions
1. Do I have to complete the FAFSA every year?
Yes, you need to fill out the FAFSA each school year because your eligibility for financial aid can differ from year to year for various reasons, including your family’s financial situation and the number of family members enrolled in college. If you filled out a FAFSA last year and want to renew it, go to fafsa.gov, click “Login”, and be sure to select “FAFSA Renewal” once given the option. That way, many of the (nonfinancial) questions will be pre-filled for you. Just be sure to update any information that has changed since last year.
2. Which FAFSA should I complete?
When you log into fafsa.gov, you will be given two different options: “Start a 2019–20 FAFSA” and “Start a 2020–21 FAFSA.” Which should you choose?
If you’ll be attending college between July 1, 2019 and June 30, 2020, select “Start a 2019–20 FAFSA.”
If you’ll be attending college between July 1, 2020 and June 30, 2021, select “Start a 2020–21 FAFSA.”
Remember, you must complete the FAFSA each school year, so if you’ll be attending college during both periods of time, you should fill out both applications.
If you need to fill out both applications, complete the 2019–20 FAFSA first. That way, when you complete the 2020–21 FAFSA, a lot of your info will automatically roll over.
If you are applying for a summer session, or just don’t know which application to complete, check with the college you are planning to attend.
3. I was selected for verification and need to provide proof of my tax filing status. How do I do that?
View our How to Get Proof of Taxes pdf here
This will cover all situations for those who have filed taxes and those who have not.
Tax year Requested: 2019/2020 FAFSA-2017 Taxes 2020/2021 FAFSA-2018 Taxes.
4. What is a Master Promissory Note (MPN) and Entrance Counseling?
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
In this process, you will complete the following steps:
Enter your personal and school information
Enter your reference information
Read the terms and conditions
Review, electronically sign and submit the MPN
All first time borrowers must complete entrance counseling. Entrance counseling explains the obligations you agree to meet as a condition of receiving a Direct Loan. During entrance counseling, you will learn about the following:
What a Direct Loan is and how the loan process works
Managing your education expenses
Other financial resources to consider to help pay for your education
Your rights and responsibilities as a borrower