Filing the FAFSA?
The Department of Education New Requirement
Students Must update FASFA FSA ID with a new user friendly FSA ID
On May 10, the Federal Student Aid FSA ID is being replaced by an FSA ID, a username and password, that must be used to login to certain U.S. Department of Education websites. Visit the link below for instructions on how to create your FSA ID.
How to Create a FSA ID
1. BEFORE YOU BEGIN
If you and your parents want to electronically sign your application or any future Application for Federal Student Aid (FAFSA) application, you should each apply for a Federal Student Aid (FSA) ID now at https://studentaid.ed.gov/sa/fafsa/filling-out/fsaid#pin-replacement.
If you link your new FSA ID with an established PIN (The previous Federal ID Method) you will be able to use it immediately. If you are a first-time student or Parent, once you create your FSA ID, you will be able to sign an original FAFSA (nothing else) until the information is verified with the Social Security Administration (SSA) one to three days after you apply. After verification, you will be able to access all of your financial aid information.
Oklahoma City University's Title IV School Code is 003166. you can create your FSA ID here: https://fsaid.ed.gov/npas/index.htm.
As you go through the instructions below, if you hear the word PIN while watching the demonstrations, it's referring to your FSA ID.
2. AFTER RECEIVING YOUR FSA ID
You will need the following information to complete your FAFSA:
- Your Social Security number (it’s important that you enter it correctly on the FAFSA)
- Your parents’ Social Security numbers if you are a dependent student
- Your driver’s license number if you have one
- Your Alien Registration Number if you are not a U.S. citizen
- Federal tax information or tax returns including IRS W-2 information, for you (and your spouse, if you are married), and for your parents if you are a dependent student:
- IRS 1040, 1040A, 1040EX
- Foreign tax return and/or
- Tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall islands, the Federal States of Micronesia, or Palau
- Records of your untaxed income, such as child support received, interest income , and veterans non-educational benefits, for you, and for your parents if you are a dependent student
- Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate but not including the home in which you live; and business and farm assets for you, and for your parents if you are a dependent student
The Financial Aid Application: You must use the Federal application, called the Free Application for Federal Student Aid (FAFSA) to apply for aid from the Federal Student Aid Programs. Go to fafsa.ed.gov to fill out the application.
Student Aid Report: You will receive a Student Aid Report (SAR) approximately one to two days after you submit the FAFSA application. You should carefully check the SAR for accuracy and follow any instructions on the form; if you don’t find any discrepancies, please keep the SAR for your records.
Verification of Information:
As you complete your FAFSA, the most efficient and accurate process available to the student and parent would be to use the IRS Data Retrieval tool. It will allow the FAFSA to use your IRS Records to complete the income and tax information. The IRS Data Retrieval Process provides students and parents the most secure and efficient way to save time and eliminate discrepancies when completing the FAFSA. Note: The student and parents will have to have their tax return completed for this to be effective.
|What is a Master Promissory Note? |
If the parent/student does not use the IRS Data Retrieval Tool, when a student is selected for verification we are no longer permitted to accept copies of tax returns to complete the verification process. The student and parents will be REQUIRED to request and submit a Tax Transcript from the IRS;the Financial Aid Office cannot do this on your behalf. If a tax transcript is required, it could delay your financial aid for the summer and possibly the fall.Verification of Information: Once Oklahoma City University receives your FAFSA information, you may receive a request for additional information to verify the information you reported. If you receive a request for additional information, no further action can be taken by the Financial Aid Office to determine your eligibility for financial assistance until all the requested information is received.
Award Determination: The Financial Aid Office will make an award to you based on your eligibility, college costs, enrollment status, and the availability of funds.
Financial Aid Award Notification: Once your eligibility for assistance has been determined, you will receive an email instructing you on how to log into Blue Link to view your financial aid award.
Accept or Decline Awards: You should carefully review your financial aid award and electronically accept or decline each award, and then click submit to send the information to our office.
Direct Stafford Student Loans: If you are accepting a student loan, and are a first time loan borrower at OCU, you will need to complete Stafford Entrance Counseling and complete a Master Promissory Note, found here.
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|What is the IRS Data Retrieval Process? |
- Apply as soon as possible after January 1, each year you are in college
- Use IRS Data Retrieval tool to expedite
- Keep copies of student and parent federal income tax information (all schedules) and W-2s
- Use FAFSA on the web to apply electronically at www.fafsa.ed.gov
- Make sure that the social security number and birth date on your FAFSA are correct
- Sign your application
- Apply as a married student before you are married
- Incorrectly report your parents' marital status
- Forget to include yourself (the student) as part of the household
- Incorrectly report income and assets of parents or spouse
- Report taxes withheld from W-2s instead of taxes paid from tax return
- Incorrectly report untaxed income
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4. General Eligibility Requirements
In order to be eligible for financial aid, a student must meet several requirements:
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- Have a high school diploma or GED or have passed the Ability to Benefit Test
- Be admitted and enrolled at least half-time as a regular student in a degree-seeking or certification program
- Provide a valid and verifiable social security number
- Be a citizen, national, or permanent resident of the United States, a permanent resident of Guam, a citizen of Palau, the Federated states of Micronesia, or the Marshall Islands, or be another type of eligible non-citizen
- Demonstrate financial need, with the exception of the Unsubsidized Stafford Student Loan. Need is determined from the information provided on the FAFSA
- Respond in a timely manner to requests from the Financial Aid Office for additional information
- Be registered with Selective Service, if required (men at least 18 years old, born after December 31, 1959, who are not on active duty with the armed forces)
- Maintain Satisfactory Academic Progress (SAP) toward a degree or certificate
- Not have borrowed in excess of annual or aggregate Title IV loan limits or be in default on any federal Title IV loan or owe an overpayment on any federal Title IV program received for attendance at any institution
5. Satisfactory Academic Progress
What does SAP stand for?
6. Federal Student Financial Aid Penalties for Drug Violations
Oklahoma City University recognizes its responsibilities as an educational institution to promote a productive student environment. This responsibility demands implementation of programs and services which facilitate that effort. Federal law requires the establishment of anti-drug and alcohol programs which prohibit the use of illegal drugs and alcohol in or on University owned or operated facilities. In order to meet these responsibilities and federal requirements, the University has established this Student Drug and Alcohol Abuse Policy, which is included in the OCU Student Handbook. I understand that Oklahoma City University has a Student Drug and Alcohol Abuse Policy. I further understand that the Vice President for Student Affairs is authorized to require those students whom he has reasonable grounds to believe are improperly using or possessing controlled substances in violation of the University's drug abuse polity to participate in the drug screening program. A student, who is convicted of a state or federal offense involving the possession or sale of an illegal drug that occurred while the student is enrolled in school and receiving Title IV aid, is not eligible for Title IV funds. A borrower's eligibility is based on the student's self-certification on the Free Application for Federal Student Aid (FAFSA). Convictions that are reversed, set aside or removed from the student's record, or a determination arising from a juvenile court proceeding do not affect eligibility and do not need to be reported by the student.
Oklahoma City University, in compliance with federal laws and regulations, does not discriminate on the basis of race, color, national origin, sex, age, religion, disability, sexual orientation, or status as a veteran in any of its policies, practices or procedures. This includes, but is not limited to, admission, employment, financial aid and educational services. The Associate Vice President for Administrative Services, located in Room 105 of the Administration Building, telephone (405) 208-5857, serves as the University's compliance officer and coordinates the University's compliance with Title VI, Title VII, Title IX, Sctn 504-Title II, the ADA and the IDEA.