General Questions (Basic Information) for Financial Aid for 2022-23
FAFSA Questions
The Free Application for Federal Student Aid (FAFSA) is the form used by the U.S. Department of Education (ED) to determine your EFC by conducting a “need analysis” based on financial information, such as income, assets and other household information, which you (and your parents if you are a dependent student) will be asked to provide. The form is submitted to, and processed by, a federal processor contracted by the ED, and the results are electronically transmitted to the financial aid offices of the schools that you list on your application.The FAFSA is the application you will use to determine eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans. Completing and submitting the FAFSA is free and easier than ever, and it gives you access to the largest source of financial aid to help pay for college or career school.
The new FSA ID, comprised of a user-selected username and password, has replaced the Federal Student Aid PIN as the process by which students, parents, and borrowers authenticate their identity to access their federal student aid information.
- Existing users may link their PIN information to the FSA ID. More information here.
- Student and parents of dependents students can create the FSA ID here. here.
- How to create an FSA ID
The FSA ID process consists of three main steps:
- Enter your log-in information.
- Provide your e-mail address, a unique username, and password, and verify that you are at least 13 years old.
- Enter your personal information.
- Provide your Social Security number, name, and date of birth.
- Include your mailing address, e-mail address, telephone number, and language preference.
- For security purposes, provide answers to four challenge questions.
- Submit your FSA ID information.
- Agree to the terms and conditions.
- Verify your e-mail address. (Note: By verifying your e-mail address, you can use your e-mail address as your username when logging into certain ED websites. This verification also allows you to retrieve your username or reset your password without answering challenge questions.)
The FAFSA that launched on January 1 is the 2022–23 FAFSA, which covers the period from July 1, 2022 through June 30, 2023. So if you’re going to be in school during that period, then yes, you do need to fill out a FAFSA again. You have to fill out a FAFSA each year while in school in order to apply for aid.To renew your FAFSA, go to www.fafsa.gov, select “Login” to log in, and you will be given the option to complete a FAFSA Renewal that has much of your application data from last year. Students who provided their email address on the FAFSA will receive email notification of the FAFSA Renewal online.
You will need your FSA ID Username and Password to access your 2022–23 FAFSA. If you’ve not set up your FSA ID, you can create the FSA ID here.
Nearly every student is eligible for some form of financial aid, regardless of income, provide that you:
- Are U.S. citizen or eligible noncitizen
- Have a valid Social Security Number
- Have a high school diploma or equivalent
- Are not in default on a federal loan or owe money on a federal grant.
- Are registered with the Selective Service, if you are a male (you must register between the ages of 18 and 25)
- Maintain satisfactory academic progress in school
- Go to www.fafsa.gov and click on “Start A New FAFSA.”
- Complete and electronically submit the free application, FAFSA.
- Federal School Code for Columbia College is 041273
As you complete the FAFSA, you should have the following records available to help you answer questions on the application: Prepare the following information to apply for the FAFSA
- Social Security Number
- Driver’s license (if any)
- Permanent Resident Card (if you are not a U.S citizen), I-94 (if you are Refugee, or Asylum)
- 2020 income tax return & W-2 & Other income records
- Parents’ 2020 income tax return (if you are a dependent student)
- Current bank statements,
- Current stock, bond, and other investment records
The SAR is a needs-analysis document generated by the Federal Processor based on the financial data you supplied. If corrections are necessary, the SAR will indicate as such and will direct you to make correction. If Financial Aid Office requires additional documentation, students should provide their school with necessary documents.
If you didn’t work for last year so you didn’t have income you can select “Not going to File” for your tax filing status.
Enter the amount of any cash support you received from a friend or relative (other than your parents, if you are a dependent student). Cash support includes payments made on your behalf. For instance, if your aunt pays your rent or utility bills, you must report those payments here.
Cost of Attendance (COA) – Expected Family Contribution (EFC) = Financial Need
Here are the questions that determine your dependency status. If you answered No to one or more of the questions you are considered to be a dependent student. If you’re a dependent student, your will report your and your parents’ information. (see Dependency Status Questions on the 2022-2023 FAFSA)
There are several options for checking your application status:
- Student Financial Aid Services, Inc. users can log in to their My FAFSA account on the secure website to check their application status online at any time.
- Call the Federal Student Aid Information Center at 1.800.433.3243 to learn the status of your FAFSA
- Check the status of your application online through the ED website at www.fafsa.ed.gov
- Contact your school’s financial aid administrators for information
Once your financial aid file is completed, you will receive a financial aid award notice that specifies the amount you can receive.
There are three verification groups for the 2020-2021 award year. The Office of Financial Aid may request you to provide the following documents based on your group selected.Groups: Independent (or Dependent)
- Provide all documents in V4-Custom & Tax Return Transcript
V1-Standard |
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V4-Custom |
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V5-Aggregate |
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- 2020 federal IRS tax return transcript (form 4506-T): available on the IRS website at www.irs.gov
- Columbia College Independent (dependent) Verification Worksheet
- Refer to Verification Process
Tax filers can request a transcript, free of charge, of their 2019 Federal Income Tax Return Transcript from the IRS in the following ways.
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- Online Immediate Assess to Your Electronic Tax Transcript
- Available on the IRS website at www.irs.gov
- In the Tools section of the homepage click “Get Transcript of Your Tax Records”
- Click on “Get Transcript ONLINE” on the left & Create a Login by clicking “GET STARTED”
- Complete steps 1-6 to set up an account
- Step 1: Apply for your temporary account confirmation code. Enter your name, email address and Click “Send email confirmation code.”
- Step 2: Enter the temporary account confirmation code that was emailed to you
- Step 3: Enter Personal Information
- Step 4: Answer questions to verify your identity
- Step 5&6: Create a security profile, user ID and password
- Select “Higher Education/Student Aid” as your reason for requesting the Tax Return Transcript
- Select the “2020 Return Transcript”
- When the Tax Return Transcript displays, print a copy or to save the file.
- If the transcript request was unsuccessful, 1print the IRS Web page with message.
- Online Request for Mailed Transcript
- Available on the IRS Web site at www.irs.gov
- In the Tools section of the homepage click “Get Transcript of Your Tax Records”
- Click on “Get Transcript by Mail”
- Enter the tax filer’s SSN, DOB, and Address. Use the address that was listed on the latest tax return filed.
- Click “Continue”
- In the Type of Transcript field, select “Return Transcript” and in the Tax Year field, select “2020”.
- If successfully validated, you can receive a paper IRS Tax Return Transcript within 5 to 10 days.
- If the transcript request was unsuccessful, 2 prints the IRS Web page with message.
- Telephone Request for Mailed Transcript
- Available on the IRS by calling 1-800-908-9946
- Online Immediate Assess to Your Electronic Tax Transcript
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- IRS Form 4506T-EZ should be used. (Download at http://www.irs.gov/pub/irs-pdf/f4506tez.pdf)
- Complete line 1-4, following the instructions on page 2 of the form.
- Line 3 should be the most current address as filed with the IRS. It is the address where the IRS Tax Return Transcript will be sent. If the address has recently changed, include the address listed on the latest tax return filed on Line 4.Paper Request for mailed Transcript –IRS Form 45066T-EZ
- On line 6, enter “2020”
- The tax filers (or spouse if requesting information from a joint tax return) must sign and date the form and enter their telephone number. Only one signature is required to request a transcript for a joint return.
- Mail or fax the completed IRS Form 4506T-EZ to the appropriate address (or FAX number) provided on page 2 of Form 4506T-EZ.
- Tax filers can expect to receive their transcript within 5 to 10 days from the time the IRS receives and processes their signed request.
- NOTE: Processing form 4506T-EZ means verifying/validating the information provided on the form. If any information does not match the IRS records, the IRS will notify the tax filer that it was not able to provide the transcript.
- If the IRS cannot provide tax transcript, submit the following four documents by student.
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Document must be submitted to Columbia College
- A signed copy of 2020 tax return
- The printed IRS Web pages with message (1&2)
- The copy of the completed and signed Form 4506T-EZ
- The copy of the IRS response to Form 4506T-EZ with signature and date by student
- Make corrections directly online at https://studentaid.gov/apply-for-aid/fafsa/review-and-correct/correct by clicking “Make a correction.” An updated SAR will be e-mailed to you—typically within 3 days.
- To add a college to your FAFSA application or to update a mailing address, you may call the Federal Student Aid Information Center at 1.800.433.3243.