Lake Superior State University
Lake Superior State University
 
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Financial Aid Office

LSSU Helpful Hints for Completing Your FAFSA

  • Be sure to file your Free Application for Federal Student Aid (FAFSA) at www.FAFSA.ed.gov and NOT on any other site. You will be charged a fee if you file through the fafsa.com site. Just remember that Filing a FAFSA at www.fafsa.ed.gov is FREE and if you are being charged a fee, then you are probably at the wrong site!
  • For the most beneficial financial aid package, file your FAFSA by March 1st each year.
  • We recommend that you complete your taxes two weeks before filing your FAFSA so that you can use the new IRS data retrieval process.  If your taxes are not completed by March 1st, you may file your FAFSA with estimated information.  Once your taxes have been filed, you will need to update your FAFSA with correct information.  We recommend using the IRS Data Retrieval tool to update your FAFSA with your tax information.
  • If you are filing your FAFSA on the web, be sure you electronically sign your FAFSA with your PIN.  If you are a dependent student, one of your parents will also need to electronically sign your FAFSA with his/her PIN.
  • Social Security numbers must be entered correctly and must match the name exactly as it is shown on your SSN card.  If a Social Security number is incorrect, this will significantly slow down the process. 
  • If you are asked to report asset information, do not include the value of your home (or parents’ home) or retirement accounts as an asset on your FAFSA.  Your assets include all available cash on the day you file the FAFSA, as well as trust accounts, money market accounts and other investments. 
  • If your parents are divorced (for dependent students), you will only enter information on the FAFSA about the parent that you live with the most.  If your parents share custody, you have to determine which parent provides you with the most support and use that parent’s household as yours on the FAFSA.  If your parent is remarried, you must also enter the information for your stepparent and any children that reside in their home.
  • If you are unsure how to answer a question, be sure to refer to the helpful hints on the FAFSA website or contact the Financial Aid Office with your question.  
  • If your parents’ income or health has changed dramatically from the year you reported on the FAFSA, you may be eligible for a Special Circumstance review.  Check out the details on our form at www.lssu.edu/finaid/forms15A.
  • Don’t forget to file your FAFSA each year, prior to March 1st, for the best aid package!

IRS Data Retrieval Process and IRS Tax Return Transcript Request Instructions

 

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