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Required Paperwork & FAFSA

  • Am I missing anything on my FAFSA?

    You can check the status of your FAFSA form immediately after submitting it online. You can check the status of a paper FAFSA form after it has been processed (roughly 7–10 days from the date mailed).

    Here’s how:

    Option 1: Go to fafsa.gov and log in.
    Option 2: Contact the Federal Student Aid Information Center.

    If your FAFSA form is still being processed, we recommend that you wait a few days before checking the status again.

    The office of Federal Student Aid at the U.S. Department of Education will send you a Student Aid Report (SAR), which is a summary of the FAFSA data you submitted. You’ll get your SAR within three days to three weeks after you submit your FAFSA form. Be sure to look over your SAR, confirm you didn’t make a mistake on your FAFSA form, and make corrections to your FAFSA data if necessary.

    The Student Aid Report (SAR) won’t tell you how much financial aid you’ll get, and it won’t show the details of the income and tax information if you used the Internal Revenue Service Data Retrieval Tool when you completed your FAFSA form. Instead, if you applied for admission and have been accepted, and you listed that school on your FAFSA form, the school will calculate your aid and will send you an electronic or paper aid offer, sometimes called an award letter, telling you how much aid you’re eligible for at the school.

  • Am I guaranteed more money if I complete my FAFSA sooner rather than later?

    We encourage applicants for admission to complete the FAFSA in advance of the April 15 priority deadline in order to be considered for all types of available aid and to finalize financial plans. Late applicants may not receive additional Iona College aid based on limited funding.
  • Should I wait until our tax returns are completed before I fill out my FAFSA?

    No. Beginning with the 2017–18 FAFSA, the start date will move from January 1 to October 1 of the previous year. This means that students who complete the 2019–20 FAFSA will be able to submit the form anytime between October 1, 2018 and June 30, 2020.
    Beginning with the 2017–18 FAFSA, students will report income information from an earlier tax year. For example, on the 2019–20 FAFSA, students (and parents, as appropriate) will report their 2017 income information, rather than their 2018 income information. Follow these simple steps to transfer your income tax data into your FAFSA.
  • How do I request an IRS Tax Return Transcript?

    You may obtain a Tax Transcript from the Internal Revenue Service.
  • How do I obtain my IRS Tuition Statement form 1098-T?

    See details at our 1098-T info page.
  • What is the federal verification process?

    The federal verification process is a system used by the federal government to support and document the information provided on the FAFSA. If you are selected for verification, you will be asked to complete and submit a Verification Worksheet and all W-2 forms received for the tax year. In addition, you may be asked to submit a copy of your and/or your parents’ federal tax return transcript if you/your parents have not used the IRS Data Retrieval tool. You may be asked to supply further information to substantiate the information you entered on your FAFSA. Your financial assistance plan may be subject to adjustment at the conclusion of the verification process.
    » View verification worksheets.
  • What will happen to my awards if I am selected for the federal verification process?

    If you are selected for verification, you will receive a letter detailing the documentation required to complete the process. If you have made a reporting error in income and assets, your awards may either increase or decrease when verification is completed. Continuing students who have been previous financial aid filers will be sent requests for verification documents prior to the packaging process. Until verification is completed, federal awards will not be credited to the student’s account.
  • How do I make changes or corrections to my Student Aid Report (SAR)?

    View your SAR record and make changes on the FAFSA website.
  • What is the family contribution?

    Based on the information you provided on the FAFSA, and calculated in accordance with federal guidelines, the “Expected Family Contribution” (EFC) is the minimum amount that parents and students are expected to contribute toward the cost of education. Should you have any questions regarding this complex calculation, please contact a Student Financial Services counselor or use the online Expected Family Contribution (EFC) Calculator.
  • What is the income threshold for a family before financial aid is not offered?

    There is no income threshold for student aid eligibility. All of the questions on the FAFSA are used to determine the Expected Family Contribution which results in the financial aid award developed by the school. A family may have too much income to be awarded a Pell Grant, but this does not mean that they will not be eligible for other types of financial aid. At a minimum, application for Federal Student Aid, via the FAFSA, will result in eligibility in the Federal Direct Student Loan Program.
  • Whose income do I use if my parents are divorced or separated?

    You are required to report the income of the parent you lived with for the majority of the time over the last 12 months (custodial parent). Child support from the other parent, together with the income and assets of the parent with whom you live, will be used in the financial need determination. If your custodial parent is remarried, your step-parents’ income and assets must also be reported. Graduate students are not required to provide parent data.