FAFSA Process

What is the FAFSA?

FAFSA stands for Free Application for Federal Student Aid. Essentially, it’s the U.S. Department of Education’s way of qualifying which students are eligible for financial aid. We also use it to qualify students for aid from BJU.

New for the 2012-2013 FAFSA

Because of recent changes by the Department of Education concerning the verification of tax information submitted on the 2012-13 FAFSA, we ask that you follow the following steps to ensure a smooth transition for your family.

  1. Submit your tax forms to the IRS electronically in early February, 2012, if at all possible.
  2. When completing your FAFSA at www.fafsa.gov, use the IRS Data Retrieval option, if available.
    1. If taxes are filed electronically, your tax information will be available 10-14 days after filing.
    2. If taxes are filed by mail, your tax information will be available 4-6 weeks after your tax forms have been mailed.
  3. If you completed your FAFSA before your tax information was available through the IRS Data Retrieval system, return to your FAFSA to update the tax information using the IRS Data Retrieval.
  4. If you use the IRS Data Retrieval option and do not make any changes to the tax information provided, you will not need to submit an IRS tax transcript if selected for verification.
  5. The IRS Data Retrieval option is not available in the following cases:
    • Your marital status has changed since December 31, 2011
    • You filed “married filling separately.”
    • You filed an amended tax return.
    • You filed a foreign tax return.

How do I complete the FAFSA Process?

  1. Before you begin, gather the following information:
    1. Social Security numbers for student, spouse (if independent) or parents (if dependent).
    2. Federal tax return information, if IRS Data Retrieval option is not available
    3. W-2 forms if not filing taxes.
    4. Recent bank statements showing checking and savings balances for student, spouse (if independent) or parents (if dependent).
  2. Go to www.fafsa.gov, the U. S. Department of Education website. There is no charge for submitting the application.
  3. You will be prompted to request a PIN for you and one parent (if dependent) by going to www.pin.ed.gov. Your PIN will become your electronic signature(s) on the FAFSA. Save your PIN(s) in a secure location. The same PIN(s) will also be used to sign all future FAFSA’s, to request student loan documents, and to request loan information.
  4. When asked to enter a school code, enter BJU’s school code — 003421. This number ensures that BJU will receive an electronic copy of your FAFSA results which are necessary to process your financial aid.
  5. When you have completed the application, you and your parent (if dependent) need to sign it electronically by entering your PIN(s) and then submitting it.

How does the FAFSA work?

The U.S. Department of Education uses the financial and family information provided on your FAFSA to determine your Expected Family Contribution (EFC). Your EFC represents the amount of money the Department of Education believes you and your family should be able to provide to pay for your college expenses. This amount is not what you will pay, but what money may be available for you to contribute. You will be notified of your EFC number when you receive confirmation of the submission of your FAFSA.

The EFC number is used by the Department of Education to determine your level of need for financial aid assistance. The lower your EFC the more need-based aid such as the Pell Grant may be available to you.

Submitting the FAFSA also establishes your eligibility for the Federal Direct Stafford Student Loans. Your EFC helps to determine the type of loan money, subsidized or unsubsidized, that is available to you. For more information about the Direct Stafford Student Loans, go to www.studentloans.gov.

What if I am selected for Verification?

  • What is verification?

    Verification is a process by which the information on the FAFSA is checked for accuracy. A student’s FAFSA can be selected for verification by the U.S. Department of Education or by the school. About 30-40% of all FAFSA’s sent to BJU are generally selected.

  • Why was I selected?

    The main reasons for being selected include but are not limited to the following:
    • Your FAFSA was randomly selected. (Chances of random selection increase if you are a potential Pell grant recipient.)
    • Your FAFSA includes incomplete information.
    • The information on your FAFSA is contradictory.
    • The tax information on your FAFSA was estimated.

  • What happens if I am selected?

    The BJU Financial Aid Office will notify you if you have been selected and will provide a list of documents which you will need to provide. This information may be sent to the BJU Financial Aid Office by mail or fax. Once received a financial aid counselor will compare the information provided with the information which was submitted on the FAFSA to ensure all information is accurate.