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How to Apply
To be considered for financial aid, a student must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA is the first step in the financial aid process and is the sole application that is used to apply for grants, loans, and work-study. The FAFSA collects financial and other information used to calculate the expected family contribution (EFC) and to confirm eligibility through computer matches with other agencies (see Match requirements).
Click here to watch a video designed to help students get started with the FAFSA.
Click here to watch a video on FAFSA and FSA ID Tips for Parents.
Types of Applications:
Students can fill out a paper FAFSA or they can apply electronically through FAFSA on the Web at www.fafsa.gov. Students who have applied through FAFSA on the Web in previous years may be able to import prior data on their current FAFSA. You are encouraged to review the imported fields and make any necessary corrections to avoid any delays in processing your financial aid.
Many students still use the paper FAFSA. Click here to download a Paper FAFSA application and mail it to the address provided for the Federal Processor.
FAFSA on the Web
Students can use FAFSA on the Web at www.fafsa.gov to complete an application online and submit it directly to the Central Processing System (CPS). Students can also correct any of their previously submitted data except for SSN and Marital Status. Online help is available to complete the FAFSA and students can call 1-800-4-FED-AID (1-800-433-3243).
FAFSA on the Web is the fastest way to apply for financial aid. In addition, the student information is edited before it is submitted. Therefore, if you made any errors or left out any information, FAFSA on the Web will call this to your attention before you submit your information. This reduces the chances that student data will be rejected for some reason and makes it less likely that students will have to correct the information later. The Federal School Code for Folsom Lake College is 038713.
Note: Applicants who fail to list Folsom Lake College will not be considered for Federal Aid at Folsom Lake College.
How to Update your FAFSA after filing your taxes:
Did you submit your FAFSA before you (or your parents, if you are a dependent student) filed your taxes? If so, don't forget you are required to return to your application to update the information you originally estimated.
The easiest way to update your tax information is by using the IRS Data Retrieval Tool (IRS DRT). It allows you to transfer your tax information directly into your FAFSA! Check to see if your tax return is available and if you are eligible to use the tool, but keep in mind, you generally have to wait a few weeks after filing your taxes before you can use the IRS DRT.
To update your FAFSA:
- Log on to www.fafsa.gov.
- Click Make a Correction.
- Navigate to the "Finances section."
- Change your answer from "Will file" to "Already completed."
At this point, if you are eligible to use the IRS DRT, you will see a Link to IRS button. If you are not eligible to use the IRS DRT, you can manually enter the data from your completed tax return.
- Click Link to IRS and log in with the IRS to retrieve your tax information.
- Enter the requested information exactly as it appears on your tax return.
- Review your information to see what tax data will be transferred into your FAFSA.
- Check Transfer My Tax Information into the FAFSA, and click Transfer Now to return to the FAFSA.
- Review the data that was transferred to your FAFSA and click Next.
- Sign and submit your updated FAFSA.
Once you've made updates at www.fafsa.gov, your changes will be processed in three to five days. You'll receive a revised Student Aid Report (SAR) indicating the changes made to your application.
Click here to watch a video that walks you through the IRS Data Retrieval Tool process.
The FSA ID:
Students, parents, and borrowers are required to use an FSA ID, made up of a username and password, to access certain U.S. Department of Education websites. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. You can get a FSA ID by going to: https://fsaid.ed.gov/npas/index.htm. You may also click here for a one-page resource on how to create an FSA ID. Applying for a FSA ID is a one-time process.
Note: You are not authorized to create an FSA ID on behalf of someone else, including a family member. Misrepresentation of your identity to the federal government could result in criminal or civil penalties.
Once your information is verified with the Social Security Administration (one–three days from the date you apply), you will be able to use your FSA ID to access your personal information on any of these ED websites, depending on what you need to do:
What You Can Do at the Site
To ensure that any financial aid package received by a student contains aid from as many sources as possible, the student must apply as soon as January 1st for the upcoming fall, spring and summer semesters.