The FAFSA & FAT

Financial-aid application procedures can vary more from school to school than the procedures for admissions. So, your first step is to get the admissions material and read it thoroughly, paying attention to the financial aid deadlines. Key application materials include the Free Application for Federal Student Aid (FAFSA), the Financial Aid Transcript (FAT).

The FAFSA
This basic form must be filed by any student who wishes to be considered for the federal financial-aid programs — federal work-study, Perkins and Stafford loans, and other federal programs.

The FAFSA takes into account information such as income, family size, the number of children in school, and the age of the older parent. A federal processor reviews this information and returns an amount called the Expected Family Contribution (EFC), or the out-of-pocket expense which your family is expected to contribute.

Applying for federal student aid is free. The FAFSA is usually available from financial aid offices after November 1st. Apply as soon as possible after January 1st of the year you plan to attend school. Some schools set deadlines as early as March for certain types of funds (for which you will not be eligible until after you complete the FAFSA).

The FAFSA Express is an electronic version of the FAFSA, available directly from the Department of Education. Want a sample form? We've got one for you here.

If you were in school the year before you plan to attend grad school, and you applied for financial aid, chances are that you'll receive a renewal application in the mail. This form is basically a FAFSA preprinted with the information that you provided the year before. All you need to do is update the information.

For more tips and advice on filling out the FAFSA, check out Kaplan's FAFSA Tips.

The FAT
The financial-aid transcript requires special attention. The school's financial-aid application material usually contains a single copy of the FAT form. You will need to make a copy for every school within the United States that you've attended since high school, even if you didn't apply for or receive financial aid.

Other required forms — not all of which get sent to schools' financial aid offices — may include separate school financial-aid applications, private need-analysis forms (such as the PROFILE form from the College Scholarship Service), and your prior year's 1040 tax forms.

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	The FAFSA & FAT Financial-aid application procedures can vary more from school to school than the procedures for admissions. So, your first step is to get the admissions material and read it thoroughly, paying attention to the financial aid deadlines. Key application materials include the Free Application for Federal Student Aid (FAFSA), the Financial Aid Transcript (FAT). The FAFSA This basic form must be filed by any student who wishes to be considered for the federal financial-aid programs — federal work-study, Perkins and Stafford loans, and other federal programs. The FAFSA takes into account information such as income, family size, the number of children in school, and the age of the older parent. A federal processor reviews this information and returns an amount called the Expected Family Contribution (EFC), or the out-of-pocket expense which your family is expected to contribute. Applying for federal student aid is free. The FAFSA is usually available from financial aid offices after November 1st. Apply as soon as possible after January 1st of the year you plan to attend school. Some schools set deadlines as early as March for certain types of funds (for which you will not be eligible until after you complete the FAFSA). The FAFSA Express is an electronic version of the FAFSA, available directly from the Department of Education. Want a sample form? We've got one for you here. If you were in school the year before you plan to attend grad school, and you applied for financial aid, chances are that you'll receive a renewal application in the mail. This form is basically a FAFSA preprinted with the information that you provided the year before. All you need to do is update the information. For more tips and advice on filling out the FAFSA, check out Kaplan's FAFSA Tips. The FAT The financial-aid transcript requires special attention. The school's financial-aid application material usually contains a single copy of the FAT form. You will need to make a copy for every school within the United States that you've attended since high school, even if you didn't apply for or receive financial aid. Other required forms — not all of which get sent to schools' financial aid offices — may include separate school financial-aid applications, private need-analysis forms (such as the PROFILE form from the College Scholarship Service), and your prior year's 1040 tax forms.	COMMUNITY THE BUZZ Your Application Essay Personal Statement… Statement of Purpose… Candidate's Admission Statement… These terms bring a shiver to the spine of many a potential grad student. Learn more. Recommendations Interviews Join the Kaplan Community and get more features. It's FREE! Optometry Scorematch—Find out how your OAT score measures up!