The FAFSA Application for 2023-24
- You can file your 2023-2024 FAFSA as early as Oct. 1, 2022.
- If you file the FAFSA earlier, you’ll have an earlier indication of how much your family is expected to contribute, which will help with budgeting for the upcoming school year. You can also use the EFC with our Net Price Calculator once completed to estimate your costs. You will use prior year tax and income information.
- For the 2023-24 FAFSA, you will be required to report prior year tax and income information. On the 2023-24 FAFSA, you — and your parent(s), as appropriate — will report your 2021 tax and income information.
- This will make the FAFSA easier because you have already completed your taxes, you may be able to automatically import your tax information from the IRS data retrieval tool found in the FAFSA.
|If you plan to attend college from:||Submit this FAFSA:||You can submit the FAFSA from:||Use income and tax info from:|
|July 1, 2022 – June 30, 2023||2022 – 23||Oct. 1, 2021 – June 30, 2023||2020|
|July 1, 2023 – June 30, 2024||2023 – 24||Oct. 1, 2022 – June 30, 2024||2021|
Step One: Obtain an FSA ID
First you must obtain an FSA ID, which is an Electronic Signature for both Student and Parent(s) if dependent.
You need an FSA ID when logging into certain Department of Education websites. Create an FSA ID now.
Remember: An email address can be associated with only one FSA ID. Why? The FSA ID is used to electronically sign documents such as loan promissory notes (which establish the binding legal obligation for the loan debt). Therefore, it is extremely important that any communications related to those documents or that FSA ID go to the correct person. Similarly, make sure you don’t let anyone else know your FSA ID or create it for you because you’ll be putting yourself at risk of identity theft or — at the very least — at risk of not knowing how to sign into your own accounts.
Watch the video to learn how to create an FSA ID
The FSA ID process consists of three main steps:
- Enter your log-in information.
Provide your email address, a unique username, and password.
- Enter your personal information.
Provide your Social Security Number, name, and date of birth.
Include your mailing address, email address, telephone number, and language preference. For security purposes, provide and create answers to five challenge questions.
- Submit your FSA ID information.
Agree to the terms and conditions.
Verify your email address. (This is optional, but helpful. By verifying your email address, you can use your email address as your username when logging into certain Department of Education websites. This verification also allows you to retrieve your username or reset your password without answering challenge questions.)
Step Two: File a FAFSA (Free Application for Federal Student Aid)
Complete a Free Application for Federal Student Aid (FAFSA) every year.
- The FAFSA is available online.
- Login with your FSA ID.
- This web application automatically prompts applicants to enter all required fields and questions any discrepant data. Renewal applicants may access their Renewal FAFSA at this site using their FSA ID.
University of Lynchburg uses your FAFSA data to determine your eligibility for institutional aid.
IRS Data Retrieval Tool
We highly recommend using the IRS Data Retrieval tool for submitting your financial information on the FAFSA if you filed taxes.
How to use the tool:
- Go to the FAFSA website.
- Click the Login Button on the right side of the screen
- Enter your information and click “Next”
- Click on “Make Corrections to a Processed FAFSA”
- Click on the “Financial Information” tab
- Answer “Already Completed” to the question have your parents filed their IRS Income tax return, then by checking “None of the above” if that is accurate to the next question about the filing status, the “Link to IRS” button will appear. (If you cannot accurately check none of the above, you will need to submit an IRS Tax Transcript.)
- Click on the “Link to IRS” button (you will be directed that you are leaving the FAFSA website).
- Enter the information asked by the IRS page and then click “Transfer Now” to FAFSA.
*If you only wish to receive merit aid you do not need to complete the FAFSA.