FINANCIAL AID �2026-27
Sue Bialk
Financial Aid & Educational Funding
Topics We Will Discuss
*Unless otherwise noted, screenshots are taken from the U.S. Department of Education’s 2026-27 FAFSA® Preview Presentation, August 2025
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What Is Financial Aid?
Financial aid consists of funds provided to students and families to help pay for postsecondary educational expenses
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What Is Cost of Attendance (COA)?
Tuition and fees
Housing and food (living expenses)
Books, course materials, supplies, and equipment
Transportation
Miscellaneous personal expenses
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Number resulting from the evaluation of a student’s (and family’s) approximate financial resources for a student’s postsecondary education
Student contribution
Parent contribution
(for dependent students)
What Is Student Aid Index (SAI)?
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Cost of attendance (COA) – Student aid index (SAI) = Financial need |
What Is Financial Need?
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Categories of Financial Aid
Need-based aid
Non-need-based aid
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Types of Financial Aid
Scholarships
Grants
Work-Study Employment
Loans
Gift Aid
Self-Help Aid
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Sources of Financial Aid
Federal Government
States
College and Universities
Private Sources
Employers
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Federal Government
Largest source of financial aid
Aid provided primarily based on financial need
Must apply each year using the FAFSA
Eligibility requirements must be met
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Federal Student Aid Programs
Federal Pell Grant*
Federal Supplemental Educational Opportunity Grant (FSEOG)
Teacher Education Assistance for College and Higher Education (TEACH) Grant
Federal Work-Study (FWS)
Federal Direct Student Loans (Direct Loans)
Federal Direct PLUS Loans*
*Changes to program effective with 2026-27 award year
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Federal Pell Grant Changes
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Parent PLUS Changes
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States
Residency requirements usually apply
Aid may be provided based on �both merit and need
Use information from the FAFSA and/or state aid applications
Deadlines vary by state
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Colleges and Universities
Aid provided based on both merit and financial need
Aid may be gift aid or self-help aid
Use information from the FAFSA and/or institutional applications
Deadlines and application requirements vary by institution
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Private Sources
Foundations, businesses, churches, civic,�and charitable organizations
Deadlines and applications procedures vary
Begin researching private sources early
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Employers
May have scholarships available�to the children of employees
May have educational benefits for their employees
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Federal Student Aid Estimator
https://studentaid.gov/aid-estimator
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Free Application for Federal Student Aid (FAFSA®)
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Free Application for Federal Student Aid (FAFSA)
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Free Application for Federal Student Aid (FAFSA)
Online FAFSA
PDF FAFSA
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Benefits of Using Online FAFSA
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StudentAid.gov Account Username and Password (FSA ID)
Apply at https://studentaid.gov/fsa-id/create-account/launch
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Online FAFSA
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FUTURE Act Direct Data Exchange (FA-DDX)
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PDF FAFSA
Source: 2026-27 FAFSA Draft
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Student Information
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Student Dependency Status
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Unusual Circumstances
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Student Information
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Student Financial Information
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Student Section Completion
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Student Invites Parents to FAFSA
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Parent(s) of Record
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Parents who live together�- income and assets of both parents.��Divorced or separated parents�- only the income and assets of the parent who provides the greater portion of the student's financial support.��Death of a parent�(A) If either of the parents has died, the surviving parent shall be considered a single parent, until that parent has remarried.�(B) If both parents have died, the student shall not report any parental income or assets.��Remarried parents�- the income of that parent's spouse shall be included in determining the parent's assessment of adjusted available income if the student's parent and the stepparent are married as of the date of application for the aid year concerned.��Single parent who is not divorced or separated�-income and assets of the parent.�
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Parent of record (Cont.)
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For dependent students with divorced or separated parents:
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Parent Invitation
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Parent Information
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Parent Financial Information
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Parent Section Completion
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Other Considerations
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Who Is Included in Family Size?
Dependent Applicants
Independent Applicants
*Include only if providing more than half of their support between July 1, 2026 and June 30, 2027
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FAFSA Processing Results
FPS
Student
College
Institutional Student Information Record (ISIR)
FAFSA Submission Summary (electronic or paper)
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FAFSA Submission Summary
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Making Corrections
If necessary, corrections to FAFSA data may be made by:
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Special Circumstances
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Special Circumstances
Secondary school tuition
Unusual uncovered medical/dental expenses
Extraordinary dependent care costs
Loss of employment or income
Divorce
Parent or spouse death
Additional family members in college
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FAFSA Demonstration
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Dependent Student Invites Parent
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Dependent Student: FAFSA® Landing Page
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This is the main FAFSA® landing page. On this page, students are directed to "Start New Form," "Edit Existing Forms," or "Accept an Invitation." For this section of the presentation, the student is beginning a new application.
Dependent Student: Log-in
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If the student selects "Start New Form" from the FAFSA® landing page and they are not logged in to StudentAid.gov, the student is taken to the "Log In" page to enter their credentials. To access the FAFSA form, all students are required to have a StudentAid.gov account username and password. If the student doesn't have a username and password, they can select "Create an Account."
Dependent Student: Roles
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After logging in, the student can select the applicable role to fill out the FAFSA® form: "Student" or "Parent." The student also has the option to "Enter Code" if they received an invitation code. The student selects "Student."
Dependent Student: Onboarding (1 of 4)
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When the student starts the 2026–27 FAFSA® form for the first time, they are taken through the FAFSA onboarding process. The first onboarding page provides an introduction of the FAFSA form and an accompanying video. Documents that may be needed to fill out the form are also included on this page.
Dependent Student: Onboarding (2 of 4)
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The second FAFSA® onboarding page provides information and a video about contributors who may be required to participate on the student’s FAFSA form. This page also provides information on how the student will invite contributors to the FAFSA form.
Dependent Student: Onboarding (3 of 4)
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The third FAFSA® onboarding page provides information about what the student can expect when completing the FAFSA form. This includes information about consent and approval, a time estimate for completing the form, and a note that the student can save the form and return later if needed, along with an accompanying video.
Dependent Student: Onboarding (4 of 4)
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The last FAFSA® onboarding page provides information and a video about what to expect once the FAFSA form is completed, submitted, and processed. On this page, the student can select "Start FAFSA Form" to begin.
Dependent Student: Student Identity Information
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This is the first page within the student section. The student can verify that the personal information is correct. To update any of the personal information, the student must access their account settings on StudentAid.gov.
Dependent Student: State of Residence
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The student is asked about their state of residence. The student selects the state from a drop-down box and provides the month and year when they became a resident.
Dependent Student: Provide Consent and Approval
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This page informs the student about consent, approval, and the use of federal tax information. Once the student provides consent and approval, their federal tax information is transferred directly from the IRS into the FAFSA® form to help complete the "Your Finances" section.
Dependent Student: �Provide Consent and Approval (Continued)
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This is a continuation of the consent and approval page. The student can expand and collapse FAQs about consent and approval. The student selects "Approve" to provide consent and approval and is taken to the next page.
Dependent Student: Imports IRS Information
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This page imports the student’s federal tax information by directly transferring it from the IRS into the FAFSA® form to help complete the "Your Finances" section.
Dependent Student: Imports IRS Information (Continued)
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This page displays the results from the IRS import for the student. For this scenario, the student is starting a new FAFSA® form and there is no federal tax information available from the IRS.
Introduction: Dependent Student Personal Circumstances
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This is the first page within the "Your Personal Circumstances" section. It provides an overview of the section.
Dependent Student: Marital Status
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The student is asked about their marital status. The student selects the "Single (never married)" option.
Dependent Student: College or Career School Plans
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The student is asked about their college grade level for the 2026–27 school year and if the student will have their first bachelor’s degree. The student selects "First year (freshman)" and "No" to the question about the student’s first bachelor’s degree.
Dependent Student: Personal Circumstances
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The student is asked if any of the listed personal circumstances apply. The student selects "None of these apply."
Dependent Student: Homelessness Status
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The student is asked if they were homeless or at risk of being homeless. The student selects "No."
Dependent Student: Unusual Circumstances
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The student is asked if unusual circumstances prevent them from contacting the student’s parent(s). The student selects "No."
Student Dependency Status: Dependent Student
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Based on the answers provided by the student, the student is considered a dependent student. The student is asked if a financial aid administrator should determine their eligibility for a Direct Unsubsidized Loan only. This is an option if the student’s parents are unwilling to provide information. The student selects "No." If the student had selected "Yes," a modal would appear to warn about missing out on other potential federal student aid.
Introduction: Dependent Student Demographics
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This is the first page within the "Student Demographics" section. It provides an overview of the section.
Dependent Student: Demographic Information
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The student is asked to identify their sex. The student selects "Male."
Dependent Student: Race and Ethnicity
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The student is asked to identify their race. The student selects the checkboxes that apply. After making a selection, a second drop-down box appears, and the student selects the checkboxes that apply to them.
Dependent Student: Citizenship Status
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The student is asked about their citizenship status. The student selects the "U.S. citizen or national" option.
Dependent Student: Parent Education Status
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The student is asked about their parents’ education status. The student selects the "Neither parent attended college" option.
Dependent Student: Parent Killed in Line of Duty
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The student is asked if their parent was killed in the line of duty. The student selects the "No" option.
Dependent Student: High School Completion Status
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The student is asked about what their high school completion status will be when the student starts the 2026–27 school year. The student selects the "High school diploma" option.
Dependent Student: High School Information
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Because the student selected high school diploma, the student is asked to select which high school they did or will graduate from. The student enters the high school’s state and city. After selecting "Search," the student selects the correct high school from the search results.
Dependent Student: Confirm High School
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The student has the option to edit the high school information presented on this page by selecting "Edit," which will return the student to the high school information page. The student confirms the high school information and selects "Continue" to proceed to the next section.
Introduction: Dependent Student Financials
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This is the first page within the "Your Finances" section. It provides an overview of the section. The student can select the hyperlink to learn about special financial circumstances.
Dependent Student: Tax Filing Status
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The student is asked about their tax filing status. The student selects "Yes" to "Did or will the student file a 2024 IRS Form 1040 or 1040-NR?"
Dependent Student: Tax Return Information
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The student is asked about their 2024 tax return. The student selects "Single" as the filing status and enters dollar amounts in the other required responses.
Dependent Student: Tax Return Information (Continued)
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The student is asked about their taxes, income, and other financial information. The student enters dollar amounts in the responses. If the student has nothing to report, the student enters the numeral zero.
Dependent Student: Assets
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The student is asked about their assets. The student enters a response in each entry field. If the student has nothing to report, the student enters the numeral zero.
Introduction: Dependent Student Select Colleges
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This is the first page in the "Select Colleges and Career Schools" section. It provides an overview of the section.
Dependent Student: College Search
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The student is asked to search for the colleges, career schools, or trade schools that will receive their FAFSA® information. The student searches for a school by selecting the state from the drop-down menu and selecting "Search." If the student can’t find a school searching by state, the student can search by school code.
Dependent Student: College Search (Continued)
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After entering a school’s state and selecting "Search," the student selects the correct school(s) from the search results. Students can send their FAFSA® information to a maximum of 20 schools. The student must add at least one school to continue.
Dependent Student: Selected Colleges
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After the student selects the correct school(s) from the search results, the student can review the school(s) chosen before continuing. If 20 schools have not been selected, the student has the option to search and select more schools, and, in some states, the student has the option to reorder the list of selected schools.
Introduction: Dependent Student Invites Contributor
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This is the first page in the "Invite a Parent as a Contributor" section, which is the last student section to require information. It provides an overview of the section.
Dependent Student: Invite Contributor (Continued 1 of 2)
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The student is asked to enter their parent’s email address to invite the parent to the FAFSA® form. After entering the email address, the student selects "Send Invite." A pop-up window appears, and the student confirms their parent’s email address by selecting "Send Invite."
Dependent Student: Invite Contributor (Continued 2 of 2)
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This page confirms the student’s parent will receive an email inviting them to the student’s FAFSA® form. The parent can access the form by accepting the invitation in the email. On this page, the student is also provided an invitation link and invitation code that can be shared directly with the parent.
Dependent Student: Review Page
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The review page displays the responses that the student has provided in the FAFSA® form. The student can view all responses by selecting "Expand All" or expand each section individually. To edit a response, the student can select the question’s hyperlink to be taken to the corresponding page.
Dependent Student: Signature
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On this page, the student reviews the terms and conditions of the FAFSA® form and what they’ll agree to when the student signs the form.
Dependent Student: Signature (Continued)
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This is a continuation of the student signature page. After agreeing to the terms and conditions of the FAFSA® form and digitally signing, the student is able to submit their sections of the FAFSA form. Since parent information has not been provided, the FAFSA form is not considered complete and can’t be processed yet.
Dependent Student: Section Complete
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Upon digitally signing the student section, the student is presented with the "Pending Submission" page. The student is reminded that their FAFSA® form is not completed and can’t be submitted until the parent completes the contributor section of the form and signs it. This page also displays next steps the student can take, including tracking and managing their form.
Dependent Student: Section Complete (Continued)
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This is a continuation of the student section complete page. This page displays information for the student about next steps, including checking their email and a reminder that their FAFSA® form is not completed and can’t be submitted until the parent completes the contributor section of the form and signs it. Next, in this scenario, the invited parent will enter the FAFSA form and complete the parent section.
Dependent Student: Parent Email
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This is NOT a view within StudentAid.gov or the FAFSA® form. This view demonstrates a parent opening the FAFSA invitation from their email. The parent selects "Accept Invitation" and is taken to StudentAid.gov.
Dependent Student: Parent Log-in
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The parent is taken from their email to the "Log In" page to enter their credentials. To access the FAFSA® form, all users are required to have a StudentAid.gov account username and password. If the parent doesn't have a username and password, they can select "Create an Account."
Dependent Student: Parent Accepts Invitation
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After logging in, the parent is taken to the "Accept 2026–27 FAFSA® Invitation" page. The invitation code from the parent’s email automatically fills in the text box if the parent used the link from the email.
Dependent Student: Parent Accepts Invitation (Continued)
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When the parent selects "Submit," a pop-up window appears, confirming the student’s name and reminding the parent that their personal information is needed to fill out the student’s FAFSA® form. The parent selects "Accept" to agree to sharing their information and enters the FAFSA form.
Dependent Student: Parent Onboarding (1 of 4)
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When the parent enters a 2026–27 FAFSA® form for the first time, they are taken through the FAFSA onboarding process. The first onboarding page provides an introduction of the FAFSA form and an accompanying video.
Dependent Student: Parent Onboarding (2 of 4)
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The second FAFSA® onboarding page provides information and a video about contributors that may be required to participate on the student’s FAFSA form. This page also provides information on how the parent will invite contributors to the FAFSA form.
Dependent Student: Parent Onboarding (3 of 4)
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The third FAFSA® onboarding page provides information about what the parent can expect when completing the student’s FAFSA form. This includes information about consent and approval, a time estimate to complete the form, and a note that the parent can save the form and return later if needed, along with an accompanying video.
Dependent Student: Parent Onboarding (4 of 4)
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The last onboarding page provides information and a video about what to expect once the FAFSA® form is completed, submitted, and processed. On this page, the parent selects "Start FAFSA Form" to begin the parent section.
Dependent Student: Parent Identity Information
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This is the first page within the parent section. The parent can verify that the personal information is correct. To update any of the personal information, the parent must access their account settings on StudentAid.gov.
Dependent Student: �Parent Identity Information (Continued)
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This is a continuation of the first page within the parent section. The parent can verify their mailing address on this part of the page. To update this information, the parent must access their account settings on StudentAid.gov.
Dependent Student: �Parent Provides Consent and Approval
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This page informs the parent about consent, approval, and the use of their federal tax information. Once the parent provides consent and approval, their federal tax information is transferred directly from the IRS into the FAFSA® form to help complete the "Parent Finances" section.
Dependent Student: �Parent Provides Consent and Approval (Continued)
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This is a continuation of the consent and approval page. The parent can expand and collapse FAQs about consent and approval. The parent selects "Approve" �to provide consent and approval and is taken to �the next page.
Dependent Student: Parent Imports IRS Information
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This page imports the parent’s federal tax information by directly transferring it from the IRS into the FAFSA® form to help complete the "Parent Finances" section.
Dependent Student: �Parent Imports IRS Information (Continued)
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This page displays the results from the IRS import for the parent. For this scenario, the parent is contributing to a new FAFSA® form and there is no federal tax information available from the IRS.
Introduction: Dependent Student’s Parent Demographics
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This is the first page in the "Parent Demographics" section. It provides an overview of the section.
Dependent Student: Parent Current Marital Status
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The parent is asked about their current marital status. The parent selects the "Married (not separated)" option.
Dependent Student: Parent State of Residence
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The parent is asked about their state of residence. The parent selects the state from a drop-down box and provides the month and year when the parent became a resident.
Introduction: Dependent Student’s Parent Finances
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This is the first page within the "Parent Finances" section. It provides an overview of the section. The parent can select the hyperlink to learn about special financial circumstances.
Dependent Student: Parent Federal Benefits Received
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This page asks the parent if the parent or anyone in the parent’s family has received federal benefits. The parent selects "None of these apply."
Dependent Student: Parent Tax Filing Status
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This page asks the parent about their tax filing status. The parent selects "Yes" to "Did or will the parent file a 2024 IRS Form 1040 or 1040-NR?" and "Yes" to "Did or will the parent file a 2024 joint tax return with their current spouse?"
Dependent Student: Parent Family Size
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This page displays the family size for the student. The parent has the option to enter the number of children or other dependents who live with the parent and will receive more than half of their support from the parent between July 1, 2026, and June 30, 2027.
Dependent Student: Parent Number in College
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This page asks the parent how many people in the family will be in college between July 1, 2026, and June 30, 2027. The parent enters a response into the entry field.
Dependent Student: Parent Tax Return Information
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The parent is asked questions about their 2024 tax return. The parent enters a response in each entry field. If the parent has nothing to report, the parent enters the numeral zero.
Dependent Student: Parent Assets
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The parent is asked about their assets. The parent enters a response in each entry field. If the parent has nothing to report, the parent enters the numeral zero.
Dependent Student: Other Parent Information
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The parent is asked to provide information about their spouse or partner. In this example, the other parent does not need to contribute to the student’s FAFSA® form because the parents filed taxes jointly. After providing the other parent’s date of birth, all required parent information will be complete.
Dependent Student: Parent Review Page
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The review page displays the responses that the parent has provided in the FAFSA® form. The parent can view responses only within the parent section of the student’s FAFSA form. The parent can view all the responses by selecting "Expand All" or expand each section individually. To edit a response, the parent can select the question’s hyperlink to be taken to the corresponding page.
Dependent Student: Parent Signature
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On this page, the parent acknowledges the terms and conditions of the FAFSA® form and digitally signs the parent section. Since all required sections are complete, the parent can both sign and submit the student’s FAFSA form.
Dependent Student: Parent Confirmation
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Upon submitting the student’s FAFSA® form, the parent is presented an abbreviated confirmation page. This page displays information about tracking the student’s FAFSA form and next steps. The student will receive an email with the full, detailed confirmation. With the student and parent sections completed and signed, the FAFSA form is now considered complete and submitted for processing.
Next Steps
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QUESTIONS?
Sue Bialk�Financial Aid & Educational Funding
bialkse@lakeland.edu
920-565-1032 ext. 2377
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