Financial Aid Night
Academic Year 2027-2028
Free Application for Federal Student Aid�(FAFSA)
Federal Student Aid Estimator
https://studentaid.gov/aid-estimator
Getting started
Getting started
Students and other contributors, such as a parent or spouse, each need their own StudentAid.gov account. Accounts can’t be shared. An email address can be linked to only one account.
This page asks the student to enter information from their 2025 federal tax return.
In this scenario, the student selects “Single” as the filing status.
Based on the information that was imported from the IRS when the student provided consent and approval, some students might not see all these entry fields.
If the student has nothing to report in a field, they enter the numeral 0.
The student enters a response in each field. If the student has nothing to report, they enter the numeral 0.
Assets
Net worth means the current value, as of today, of investments, businesses, and/or investment farms, minus debts related to those same investments, businesses, and/or investment farms. When calculating net worth, use 0 for investments or properties with a negative value.
Investments include real estate (do not include the home in which you live), rental property (includes a unit within a family home that has its own entrance, kitchen, and bath rented to someone other than a family member), trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, installment and land sale contracts (including mortgages held), commodities, etc.
Investments also include qualified education benefits or education savings accounts such as Coverdell savings accounts, 529 college savings plans, and the refund value of 529 prepaid tuition plans. If the student is required to report parent information on the FAFSA form, parents should not report the value of education savings accounts for other children. Qualified education benefits or education savings accounts must be reported as an asset of the parent if the student is required to report parent information. If the student is not required to report parent information on the FAFSA form, the education benefit or savings account is reported as an asset of the student. UGMA and UTMA accounts are considered the assets of the student and must be reported as an asset of the student on the FAFSA form, regardless of whether the student is required to report parent information.
Assets
Investments do not include the home you live in, the value of life insurance, ABLE accounts, retirement plans (401[k] plans, pension funds, annuities, noneducation IRAs, Keogh plans, etc.), or cash, savings, and checking accounts reported in the previous question.
Investments also do not include UGMA/UTMA accounts for which the student is the custodian but not the owner or the value of qualified education benefits or education savings accounts that are for the benefit of the parent’s other children (not the student).
Investment value means the current balance or market value of these investments as of today. Investment debt means only those debts that are related to the investments.
Businesses and farms include businesses that you own (including a small or family-run business) or income-producing farms that you own (including the fair market value of land, buildings, livestock, unharvested crops, and machinery actively used in investment farms, agricultural, or commercial activities).
Businesses and investment farms do not include the value of crops that are grown solely for consumption by the student and their family or the home in which you live. If the home in which you live is also located on a farm that you own, do not include the net value of that principal residence in the net value of all farm assets. The principal residence may include the home, structures, and land that are adjacent to the home that are not being used, stored, or sold for farming or other commercial activities
The student can select a maximum of 20 schools. They need to add at least one school to continue.
The student can search for a school by entering a school name, code, or a location.
Which parent to report?
If the parents are divorced or separated, answer the questions about the parent who provides the greater portion of the student’s financial support, even if the student does not live with them. If this parent is remarried as of today, answer the questions about that parent and the stepparent.
https://studentaid.gov/fafsa-apply/parents
Which parent to report?
Examples of support could include child support paid, federal/state benefits, health insurance dependent, etc.
Student Review & Submit Page
In this scenario, the parent:
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After logging in, the “Accept FAFSA® Invitation” page loads.
If the parent selected the link from the email, the invitation code in the email will be pre-filled in the entry field.
If they didn’t, the parent will need to enter the code. The parent can then select “Accept Invite.”
Once the parent provides consent and approval, the IRS transfers the parent’s federal tax information into the FAFSA form. This helps complete the “Parent Finances” section.
This page asks the parent if they or anyone in their family has received federal benefits.
In this scenario, the parent selects “None of these apply.”
This page displays the number of people in the parent’s family based on the parent’s answers to previous questions in the FAFSA® form.
If the number is wrong, the parent can enter the number of children or other dependents who live with the parent and who will get more than half of their support from the parent between July 1, 2027, and June 30, 2028.
No longer used in SAI calculations, but schools can still use for aid consideration.
This page asks the parent to enter information from their 2025 federal tax return.
In this scenario, the student selects “Married filing jointly” as the filing status.
Child Support received – use amount received for the last complete calendar year (as of the date filing the FAFSA).
When a parent submits a dependent student’s FAFSA® form, this abbreviated version of the confirmation page displays. It has information about next steps for the student.
The student will receive an email with more-detailed confirmation information.
School Information
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On the School Information tab, the student sees information about the college(s) and/or career school(s) that they selected to send their FAFSA® information. The student can compare the graduation rate, retention rate, transfer rate, default rate, median debt upon completion, and average annual cost of their selected schools.
After the FAFSA submission
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Each school will receive the FAFSA electronically within 3-5 business days.
You will see a range of when offer letters are sent out November - April
CSS Profile
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Some schools also require the CSS Profile in addition to the FAFSA form. This is used to award non-federal institutional aid. Check with each school for their specific deadlines.
Opens on October 1st
https://cssprofile.collegeboard.org/about
What is Cost of Attendance (COA)
What is the Student Aid Index (SAI)
Cost of Attendance
– Student Aid Index
= Financial Need
What is Financial Need
Types of Financial Aid
Sources of Financial Aid
Federal Government
Common Federal Aid Programs
State Aid Programs
NYS Aid Programs
Private Sources/Employers
Special Conditions/Appeals
Thank You!