Student loans in the U. Flag of the United States. Template css financial aid profile application 2016-2017 on pdf:Education in the U.

Nearly every student is eligible for some form of financial aid. 2010 changed the criteria for suspension of eligibility for drug-related offenses. Previously, students could lose eligibility for either the possession or sale of a controlled substance during the period of enrollment. SAFRA dropped the penalties for possession of a controlled substance but retained the penalties for sale of a controlled substance.

SAFRA increases the suspension to two years for a first offense and indefinite for a second offense. FAFSA is made available to the public on October 1. The 2016-2017 academic year was the final time the FAFSA was made available on January 1. The US Department of Education made the FAFSA available earlier to more closely align the timing of the financial aid application process with the typical college application process. Additionally, 2-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017-2018 academic year. This change in using “prior-prior tax year” information enables families to use the IRS Data Retrieval Tool in the FAFSA to verify their tax information without a delay from the IRS processing tax information. Some financial aid is provided on a first-come, first-served basis, and students are encouraged to submit a FAFSA as soon as possible.

The Higher Education Opportunity Act of 2008 authorized fee-based FAFSA preparation. By law, fee-based FAFSA preparation services must on initial contact with students inform them of the free option and be transparent about their non-affiliation with the U. Department of Education and their fees. In addition to demographic and financial information, applicants can list up to ten schools to receive the results of the application once it is processed. However, the US Department of Education changed the FAFSA for the 2016-2017 academic year to prevent schools from having access to view other schools that may be listed on the application. Students should carefully review the SAR for errors and make any corrections as necessary.