FAFSA Season

October 2, 2020 - Jacob Silva

So, it is officially FAFSA season, also known as the most stressful time of the year. What is the FAFSA you ask? Well, let me tell you; the Free Application for Federal Student Aid is also known short handedly as the FAFSA. The FAFSA is a federal form that you can fill out to determine if you qualify for any student aid to help you afford college. FAFSA is your application for grants (free money), work study (money you earn), and loans (money you pay back). Many people always think that their parents make too much money, so they won’t get any financial aid to help them afford college. While that is not necessarily wrong, it still doesn't’t hurt to fill it out and see if you can possibly get something, because hey, anything helps!

he FAFSA application opens for submission on October 1st for the following school year and the sooner you fill it out the greater the opportunity you’ll have to receive aid from your institution! So, as soon as October 1st approaches, start gathering all the necessary documents:

  1. Your FSA ID
  2. Your Social Security Number
  3. Your Driver’s License Number
  4. Your and your parents 2019 Tax Returns
  5. The FAFSA also has a great tool called the IRS Retrieval Tool, it allows for tax information to be directly transferred from the IRS to the FAFSA.

The 2021-2022 FAFSA will be available to complete as early as October 1st using you and your family's 2019 tax and income data. You will be able to complete the FAFSA every year as early as October 1 using the prior years' tax information. UNM's FAFSA priority date for 2021-22 is January 5th with a requirement to have all additional documentation submitted by January 31st to remain eligible for priority aid.

Sometimes UNM needs additional documentation in order to complete your Financial Aid file. To understand the types of documents that they may need, you can check the status of your file at my.unm.edu. Once you log into myUNM, take these steps:

  1. Click the Financial Aid Tab
  2. Click Eligibility Requirements
  3. Select the aid year your applying for
  4. View the documents needed
    1. Submit the documents to the Financial Aid Office either online or in-person.
    2. Then confirm with the Financial Aid Office that your file is complete.

Just like many other schools, UNM has a priority deadline, and that day is on January 5th. With the holiday season sneaking up on us, you are probably thinking of gifts to give to your family and friends, right? While I am pretty sure they’ll forgive you for giving them a gift late, the financial aid office….not so much. Quite frankly, if you miss the priority deadline it could cost you money, and as college students we need as much as we can get! So, make sure you are being timely with completion of this application.

Need help? Here is the website for the financial aid office at UNM. Keep a lookout on workshops offered by different departments at UNM that can help you complete the application! Or, as always feel free to contact us at the CFC to help you out! The CFC will be offering a workshop in October in collaboration with the Financial Aid office to give a run down of the process.