For those of you who find taxes and the financial aid application process daunting (don't be ashamed, many do!), read on to clear the fog and solve the financial aid puzzle!
To begin- the deadline for returning students to apply for financial aid is FRIDAY APRIL 27, 2012! Please do not wait to submit everything last minute - you will be late and your financial aid could be impacted. If you are an international student your financial aid is automatically renewed, so you may keep reading for interest only!
A student's eligibility for financial aid is based upon four main criteria which include Parent and Student Income, Parent and Student Assets/Savings/Investments, Number of People in the Household, and Number of Siblings Attending College. Number of people in the household include the head of the household and legal dependents - basically, parents and the number of children still legally dependent under them. Number of Siblings Attending College may not necessarily include all siblings of the student, but pertains to those in the household in an undergraduate program.
The process of applying for aid is simple in that there are 3 basic steps that are repeated every year. Returning students are asked to submit the following:
1. FAFSA available online at FAFSA.ed.gov, school code 00213. Be sure to complete the FAFSA at least two weeks AFTER electronically submitting tax returns. You will then be able to use the IRS Data Retrieval Tool (new this year).
2. CSS Profile, also available online at Profile.collegeboard.com, school code 002133.
3. All current year Federal tax returns should be sent to IDOC along with an IDOC Cover Sheet specific to the student. IDOC is a data imaging services provided by the CollegeBoard. All tax returns should be physically signed, include all Schedules, W-2's and business Partnerships or S-Corporations if applicable.
Again, the renewal aid deadline is Friday APRIL 27th. Our office must receive your completed application by this date, so please allow time for completing, compiling, and submitting your forms to IDOC via "snail" mail.
Most importantly, be sure to CHECK YOUR MAIL - at school, at home, and online. Our office sends Missing Information Letters and emails to remind you of deadlines and documents needed in order to complete your financial aid application. Please be sure to read these carefully and in a timely fashion. As always, feel free to contact our office with any questions at sfs@brandeis.edu.
Yours truly,
Savvy Student
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