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Reapplying for Financial Aid

Have you completed the FAFSA before? This presentation is for continuing SUNY Geneseo students applying for the 2016-17 academic year. Please note: summer 2016 is considered part of 2016-17.

SUNY Geneseo Financial Aid

on 22 February 2016

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Transcript of Reapplying for Financial Aid

You're Done!
Know Your Personal & School Information
Gather Information
More Common Errors to Avoid
What Happens Next?
1. Review Your Student Aid Report (SAR)
In 3-4 business days after you file, you will receive an e-mail from FAFSA that explains how to access your Student Aid Report (SAR) online. On your SAR, look for any important error messages. You may need to resolve these issues to prevent a delay in being awarded financial aid.
Reapplying for Financial Aid
Continuing students should complete the FAFSA by March 15th!
Your personal information:
Social security number & date of birth of student (and parent or spouse, if applicable)

FSA ID & Password- You need a FSA ID & password. To apply for or retrieve a forgotten ID, go to https://fsaid.ed.gov. If dependent, your parent needs an ID & password, too.

Driver’s License Number (student's, if you have one)

Alien Registration Number (if you are not a US Citizen)
Am I dependent or independent?*
Who is my "parent" when I fill out the FAFSA?*
SUNY Geneseo's Federal School Code
* If your parents refuse to provide financial information and/or support or you have other circumstances that are not addressed here, save your work and contact our office for assistance.
Be sure to report:
Contributions to tax deferred retirement plans (Box 12 of the 2015 W-2 wage forms)

Contributions to IRA’s and Keough plans

Child support received for all children in the household (not just for you, the student.)

U.S. Income Tax Paid from line 56 minus 46 (Form 1040) or line 28 minus 36 (Form 1040A) or line 10 (1040EZ.)
Do not report Federal self-employment tax or the amount of taxes withheld from Form W-2.
For help, call the SUNY Geneseo Financial Aid Office at 585-245-5731.
You can also check www.fafsa.gov or visit our website www.geneseo.edu/financial_aid.
Gather Your Financial Documents
Income Information:
Whether or not you have filed your 2015 taxes, have your 2015 information available:
Income information from all sources
All W-2s
Untaxed income, such as child support received, interest income, and veterans non-education benefits

Asset Information:
Information on cash; savings and checking account balances; investments (non-retirement), including real estate (not the primary home); and business and farm assets.

If you have not filed, use estimated income information. Once you have completed your return, update your FAFSA or transfer the data using the FAFSA IRS Data Retrieval process!
Dependent Students:
Report information for you and your parent(s).
Independent Students:
Report information for you and if married, your spouse.
Download the 16-17 FAFSA to use as a guide.
Common Errors to Avoid
For Dependent Students: FAFSA looks at household income.
If your
Parents Live Together:
Report both parents' income & asset information, whether they are married*, divorced/separated, or were never married.

Parents are Divorced/Separated:

Who did you live with most in the last 12 months?

This is your "custodial parent." Report this parent's income and assets. If your "custodial parent" is remarried, you must include your stepparent's income and assets, also.

If you lived with each parent for exactly ½ of the last 12 months, report information for the parent who provided
more support
for you during that time. Again, If your "custodial parent" is remarried, you must include your stepparent's income and assets, also.

*The FAFSA definition of marriage includes marriages of persons of the same or opposite sexes.
3. Receive Award Notification
Returning students will be sent an email in April once their financial aid has been packaged for 2016-17. You will not receive a paper award letter. However, you may print your SUNY Geneseo Smart Track Letter from KnightWeb.
2. Complete TAP Application
Once your FAFSA is processed, NYS will send you an email asking you to finalize your Express TAP Application. Be sure to check that SUNY Geneseo's school code is listed, 0920. https://www.tap.hesc.ny.gov/totw/.
Now, take a look at
"Understanding Your SUNY Geneseo Smart Track Award Letter."

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