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Financial Aid

STUDENT FINANCIAL AID

PLEASE READ!!!!!

  • Any student who wants consideration for financial aid MUST complete the FAFSA. Even people who do NOT think they’ll qualify for aid are encouraged to complete the FAFSA in case their circumstances should change and to secure federal subsidized low-interest loans.  
  • The FAFSA OPENING DATE IS NOW OCTOBER 1ST. The FAFSA is now based on the " prior-prior year"  taxes for this year, 2015.   Remember you must meet college deadlines if you want them to consider you for campus aid.
  • It’s a good idea to have college applications filed prior to filing the FAFSA. Financial Aid information is sent directly from the government to the college financial aid office.
  • To inform you of the financial aid process, to answer your questions, and to assist you with completing the FAFSA, a financial aid meeting is scheduled for  Nov. 8TH , 7:00 p.m. in the High School Auditorium. The meeting will last approximately 1 hour.   A college financial aid officer will be our key note speaker.  This meeting is an excellent opportunity to understand the financial aid process and to alleviate any anxiety associated with it.
  • You can complete the FAFSA electronically, by filling out FAFSA on the Web or you can fill out the paper FAFSA. 99%+ of all FAFSA’s are submitted electronically.

Create a FSA ID:

  • An FSA ID gives you access to Federal Student Aid’s online systems and can serve as your legal signature. Once you have created your FSA ID, you can use it immediately to sign. Be sure to only create an FSA ID using your own personal information and for your own exclusive use. You are not authorized to create an FSA ID on behalf of someone else, including a family member.  Mis-representation of your identity to the federal government could result in criminal or civil penalties.
  • To create your own personal FSA ID, you must answer the following questions: List your current email address, enter a username and password, be 13+ years of age and enter responses to the challenge questions in case your forget your username and/or password.
  • Keep your FSA ID in a safe place; it serves as your electronic signature on FAFSA on the Web and will be useful for other purposes later.                               

FACTS REGARDING THE FAFSA:

  • Because most high school students need to report their parents’ information on the FAFSA, one of your parents will also sign the FAFSA. So if you plan to fill out the FAFSA on the Web, one (or both) of your parents should obtain his/her own FSA ID.
  • On the FAFSA, you can list up to ten schools you want to attend. FAFSA information will automatically go to the schools you list.By filling out the FAFSA, you are automatically applying for grants. The FAFSA will ask whether you also want to apply for loans and work-study. Answer yes.
  • There is NO FEE for completing the FAFSA!
  • The government does social security matches. Make sure the student’s name appears on the FAFSA as it appears on your social security card. Also, make sure the student’s social security number is correct! Social Security numbers cannot be corrected electronically.
  • Federal Student Aid Information Center: 1-800-4-FEDAID or www.fafsa.ed.gov
  • Another excellent website is that of the Federal Department of Education www.studentaid.ed.gov.

Where can I find FAFSA forms?

 If you would like to complete the paper FAFSA, you can and request a paper FAFSA at 1-800-433-3243.

What’s the advantage to applying electronically?

Approximately 99%+ of all FAFSA’s are completed electronically. The electronic application can save you several weeks in the application process, because it is much more likely to be correct on the first try. The electronic application checks for errors and inconsistencies while you’re filling it out, so that those mistakes can be fixed before the application is processed.

How do I calculate the EFC?

The EFC (Expected Family Contribution) is the dollar amount that a family is expected to pay toward a student’s educational cost. Cost of Attendance (tuition, fees, room and board, books, etc) – Expected Family Contribution (EFC) = Financial Need. The formula does NOT measure willingness to pay! This federal calculation is based on family earnings, assets, number of students in college, and family size. A need comparison worksheet is attached to help serve as a guide to calculate a student expenses when comparing colleges. If filing electronically, after you submit your information your EFC will be provided immediately!

How do I know what the FAFSA priority deadlines are for different colleges?

Deadlines vary from school to school. If you have a question, contact the school directly! Most schools will have deadlines of February 15, March 1 and/or March 15. It is the students’ responsibility to know their deadlines!!!!!!!!

*SAVE THE DATE*

Lexington High School Financial Aid Night will be Nov. 8th 7:00 – 8:00 p.m. in the High School Auditorium. A college financial aid officer will provide an overview of the financial aid process and a review of the FAFSA.

College Goal Sunday – TBA   at The Ohio State Mansfield Campus.

College Goal Sunday offers students and parents free, professional help in filling out the FAFSA, line by line. Financial aid professionals from Ohio colleges and universities will walk students and parents through the financial aid application process. This is required in order to apply for federal financial assistance for higher education opportunities. THIS IS A FREE PROGRAM. Register online at www.ohiocollegegoalsunday.org.  

Special Notes:

Good luck with the financial aid process. If you have a question or need help, please don’t hesitate to ask!

Lexington Student Services

419-884-3454