FAFSA Guide

The Free Application for Federal Student Aid (FAFSA) is the form you need to fill out to get any financial aid from the federal government to help pay for college. Each year, over 13 million students who file the FAFSA get more than $120 billion in grants, work-study, and low-interest loans from the U.S. Department of Education.

Filing the FAFSA isn’t as complicated or time-consuming as it sounds – a little preparation will help make the process go smoothly. Before you can submit your FAFSA, you’ll need to create your FSA ID. You’ll need an FSA ID to log in to your account, sign the FAFSA and make changes or add schools. You and your parent must create separate FSA IDs.

Our Office of Financial Aid will work with you to ensure you have access to the resources you need to pay for college. Our goal is to make sure all qualified applicants can invest in an education here. If you have any questions about financial aid, need help filling out the FAFSA or encounter special financial circumstances, please call us at (319) 352-8262 or email us.

What is the FAFSA?

Visit the FAFSA Website

How Financial Aid Works

Get the Truth – and the Money You Need for College

Don’t let misconceptions about the FAFSA prevent you from getting the money you need for college. Here’s the truth behind some questions you might have about filling out this critical financial aid form:

Fiction: I need a computer to file the FAFSA.
Fact: You can file your FAFSA on your phone by visiting studentaid.gov. You can also request a form be sent to you so you can mail it back in by calling 1-800-4FED-AID.

Fiction: I need to pay a fee to file the FAFSA.
Fact: Filing the FAFSA is free – it’s right there in the name! Avoid any website or mobile app that requires a payment – that means it isn’t the official FAFSA site or the official myStudentAid app.

Fiction: It takes a really long time to fill out the FAFSA.
Fact: The average time to complete a FAFSA is only 22-30 minutes. There’s also lots of help available – even a FAFSA YouTube channel!

Fiction: The FAFSA asks for a lot of information and I won’t be able to find it.
Fact: The information the FAFSA collects includes things you can easily access, like your Social Security number, bank statements and driver’s license. You don’t even have to have your tax forms on hand: there’s a tool that can pull them in automatically for you! See a checklist of the information you need to file the FAFSA.

Fiction: I need both parents’ information to complete the FAFSA.
Fact: It depends. There are many situations when you only need one parent’s information to complete the FAFSA – and you might not even need that. The FAFSA considers many different family situations, and so will your college’s financial aid office. Learn more about parent involvement.

Fiction: I don’t need to fill out the FAFSA.
Fact: The FAFSA not only enables you to apply for federal grants and low-interest loans, it’s also the form that states and individual colleges use to determine your need-based aid. Check the FAFSA submission deadline for your state here.

Fiction: My family must have filed their tax returns before I can file the FAFSA.
Fact: You can use what’s called “prior-prior year” taxes to complete the FAFSA. That means that for the 2022-23 FAFSA, you use 2020 information.

Fiction: I need to be a U.S. citizen to be eligible for financial aid.
Fact: Students who fall into certain non-citizen statuses are eligible for federal financial aid. See a list here. Your parents’ citizenship does NOT impact your eligibility.

It’s so important not to let false impressions steer you away from filing the FAFSA – this form is the key to getting the money you need to attend college. If you’re confused about something you hear or read, contact your school’s financial aid office and they’ll set the record straight!

Financial aid has a language all its own – one with lots of acronyms and industry-specific terms that can sound scary. This glossary will take some of the mystery out of these terms and help you make the best decisions about your awards.

Student Aid Index (SAI): Formula-based index number ranging from –1500 to 999999. Where your SAI falls within the SAI range helps your school determine how much financial support you may need. Your SAI is calculated using information that you (and other contributors, if required) provide on the Free Application for Federal Student Aid (FAFSA®) form.

Cost of Attendance (COA): An estimate of how much it costs to attend a college. The COA includes the price of tuition and fees, room and board, books and supplies and other expenses associated with attending that school. Learn about our COA here.

Financial need: The difference between your school’s cost of attendance (COA) and your Student Aid Index (SAI).

Net price: How much it will cost you to attend a college for one year after your scholarships and grants, loans and work-study are subtracted from the COA. Use our Net Price Calculator to estimate your net price.

Subsidized loan: A need-based loan on which you don’t pay interest while you’re in school.

Unsubsidized loan: A loan for which you don’t have to demonstrate financial need. You’re responsible for all the interest on this type of loan.

Scholarship/grant: A monetary gift that doesn’t have to be repaid. It can be one-time or renewable, and based on grades, talents or other criteria.

Work-study: A part-time job for students with financial need.Find out more about our work study options.

You can contact your school’s financial aid office at any time if you need some help understanding terms like these. They’ll be happy to help you translate them!

For more common terms you’ll see throughout the financial aid process, check out this glossary from the Department of Education.

File your FAFSA now!